Markets

Rare Earth Minerals' 333pc rise after name change puts Aim under fresh scrutiny
What's in a name? About 10m, according to investors in Aim-listed Rare Earth Minerals Plc, whose share price rose 66pc yesterday.

Rare Earth Minerals' new website can still be found at www.zestmusic.com By Rowena Mason, Energy Correspondent 6:00AM GMT 31 Dec 2010
18 Comments
The company, which does not yet own any rare earth minerals or licences to mine them, was a loss-making music business called Zest until eight days ago.

It has not revealed how it plans to acquire any of the minerals on which China has a near monopoly. Nor has it disclosed the countries where it is targeting acquisitions with just 630,000 of cash in the bank.

However, since it proposed the name change on November 12, its share price has more than quadrupled from 0.35p, valuing it at 3.1m, to 1.52p, valuing it at 13.5m.

The rise is likely to raise further questions about the London Stock Exchange's governance of the AIM market - three years on since Roel Campos, an SEC commissioner, described the junior market as a "like a casino".

It has been under renewed scrutiny since Desire Petroleum's wild share spikes earlier this month. A spokesman for AIM declined to comment on whether the regulatory team is looking into Rare Earth Minerals

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One broker said: "It is penny stock madness, a herd mentality, though I'm not sure what they're trying to cash in on. It is just like a type of dotcom boom situation."

At the height of the dotcom boom, a string of cash shells - companies with a stock market quote but no actual business - listed on AIM. The value collapsed when the bubble burst, prompting the LSE to change its rules.

TD Waterhouse, the retail broker, said Rare Earth Minerals was its most traded stock yesterday, with the most buy orders and fourth most sell orders. "It's the first time I've ever seen it appear in the top ten," a spokesman said.

More than 143m shares changed hands, despite no new publicly available information.

The only announcement the company has made recently has been the award of 98m share options to "directors, staff , consultants and advisors" at 0.5p, redeemable in ten years.

The company's shares also rose sharply in January, when it appointed David Lenigas, a veteran of the world of penny stocks, as a non-executive. He is one of only two board members at Rare Earth Minerals and disclosed he was a director of 94 other companies including Solo Oil, Vatulouka Gold Mines and LonZim.

Last year, a study by Manchester Business School found AIM companies were no more likely to fail than those on other markets. However, they had more chance of survival if older, bigger, had a greater free float and a reputable nominated advisor.

Rare Earth Minerals was unavailable for comment.

Update on Greenland Exploration

Rare Earth Minerals Plc (AIM: REM) is pleased to announce that SRK Exploration Services Ltd ("SRK ES"), the Company's geological consultants for Greenland, have now identified one main rare earth element target and eight gold targets on the Company's 100% owned 2012/15 exploration Licence in South Greenland.

As previously announced on 25 April 2014, REM's exploration effort in Greenland will be managed by Greenland Minerals Energy Limited ("GMEL"); a leading operator in Greenland's emerging minerals industry and owners of the Kvanefjeld rare earth-uranium deposit, one of the largest rare earth deposits in the world. Exploration efforts will now move to ground based exploration with the GMEL field crews expected on site on 17 June 2014.

more....

Lithium Resource Increase and Upgrade - Sonora Lithium Project

Highlights:

· El Sauz and Fleur and contained LCE increases by 35% to 2.01 million tonnes.

· La Ventana contained LCE increased by 37% to 1.273 million tonnes

· Indicated total Lithium Resources for El Sauz and Fleur total 120,990,000 tonnes averaging 3,120 ppm Li (1.66% LCE) for combined Upper and Lower Clay units at a cut-off of 2,000 ppm Li.

· Indicated total Lithium Resources for La Ventana are 75,320,000 tonnes averaging 3,174 ppm Li (1.66%) for the combined Upper and Lower Clay units at a cut-off of 2,000 ppm Li.

· Work on the large, 96,964 hectare, concession package that form the lands under the second joint venture with Bacanora is progressing well. To date four drill holes have been completed, mapping and surface sampling are ongoing. First results are expected towards the end of June 2014.

It would be nice if they put a value to all this.......I presume probably five times todays sp value...perhaps even more....

Up5% today.

REM increases strategic holding in Bacanora Minerals to 11.27%

Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in its joint venture partner in the Sonora Lithium Project in Mexico, Bacanora Minerals Limited ("Bacanora"), to 11.27% from the previously reported 10.18% through further on-market purchases totalling £328,200.

This interest, when aggregated with REM's 30% direct interest in the Fleur- El Sauz Lithium Joint Venture and the 10% direct interest in the 94,000 hectare Megalit Joint Venture, results in a total economic interest in Fleur- El Sauz of approximately 37.89% and a total economic interest in Megalit of approximately 20.14%.

David Lenigas, The Company's Chairman, commented:

"We continue to steadily increase our strategic shareholding in Bacanora Minerals, as we seek to increase REM's exposure to the Sonora Lithium Project in Mexico"

- Ends -

cant believe there is so little interest here...this could be a 100 bagger!

How much..?

Exercise of Warrants and Options. Loads of them!

More cash for REM to put into Bacanora?!

Following Admission, the Company's enlarged issued share capital will comprise 5,453,375,717 ordinary shares.

5.45 Billion!!!!! FFS

They'll do a consolidation when the sp reaches 50p skinny! :o)

REM secures US$ 10m debt facility to fund further acquisitions.

At least they are not issuing more shares!

No because 5.45 billion is such a nice number!!!!!!!

Yes, it would be a shame to spoil it!

Where is gibby? Surely doesn't want to be out of this over the weekend? ;o) I'm not!

Impossible to buy 10 shares.

:o)

Plenty of buyers @1p today.

Drilling Update on Yangibana Rare Earth Prospect

Drilling Update on Yangibana Rare Earth Prospect.

Rare Earth Mineral Plc (AIM: REM) is pleased to announce significant rare earth element results from the first phase of drilling recently completed on its 30% owned Yangibana North rare earth element project in Western Australia. The first phase of drilling comprised of 44 reverse circulation (RC) drill holes for a total of 1,836 metres.

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