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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.

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.

more...

Update - El Sauz Fleur Lithium Property, Mexico

Rare Earth Minerals Plc (LSE AIM: REM) is pleased to announce that it has agreed with its partner in the Sonora Lithium Project in Mexico, Bacanora Minerals Ltd ("Bacanora"), to extend the date of the exclusive right to negotiate increasing REM's interest in the El Sauz Fleur Lithium Property ("Agreement 1") from 30% to as high as 49.9% from 22 May 2014 to 30 September 2014.

The Agreement 1 mining concessions comprise of Fleur, Fleur 1, El Sauz, Sauz 1 and Sauz 2, which total 5,325 hectares and form part of the overall Sonora Lithium Project in northern Mexico ("Concessions").

REM's interest in the overall Sonora Lithium Project consist of a 11.27% direct interest in Bacanora, a 30% in the Bacanora subsidiary that owns the Concessions (Agreement 1) and a 10% in the Bacanorasubsidiary that owns the Megalit mineral concessions (Agreement 2). When aggregated the total economic interests are, 37.89% in Agreement 1 and 20.14% in Agreement 2.

Second RNS out.

Sonora Lithium Project - NI43-101 Technical Report

Rare Earth Minerals Plc (LSE AIM: REM) is pleased to announce that the Company's Joint Venture Partner Bacanora Minerals Ltd ("Bacanora") has filed the Technical Report ("Report") on the updated and reclassified lithium resource in respect of the Sonora Lithium Project.

The Report summarises increases to the resources tonnage and classification that were announced by the Company in its announcement of June 4, 2014. For a summary of those increases, readers are encouraged to refer to the announcement of 4 June or directly to the Report.

The report covers the El Sauz and Fleur mineral concessions, the La Ventana Concessions and the Megalit Concessions.REM's interest in the overall Sonora Lithium Project consist of a 11.27% direct interest in Bacanora, a 30% in the Bacanora subsidiary that owns the El Sauz and Fleur mineral concessions (Joint Venture 1) and a 10% in the Bacanora subsidiary that owns the Megalit mineral concessions (Joint Venture 2). When aggregated the total economic interests are, 37.89% in Joint Venture 1 and 20.14% in Joint Venture 2.

The Report, in compliance with the recognised Canadian Security Administrators' National Instrument 43-101 and CIM guidelines for reporting resources and reserves, has been filed by Bacanora on SEDAR and will be available for download on the Company's website at www.rareearthmineralsplc.com. The full news release from Bacanora is shown below.

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Offer over 1p atm.

Good amount of buying today can it stay above 1p.

Edit finished @1.02p.

REM increases strategic holding in Bacanora Minerals to 11.85%

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 11.85% from the previously reported 11.27% through further on-market purchases totalling £207,000 from 27 June to 3 July 2014.

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 Megalit Joint Venture, results in a total economic interest in Fleur- El Sauz of approximately 38.29% and a total economic interest in Megalit of approximately 20.66%.


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Bacanora shares are at an all time high and they will be listing on AIM soon, may well be worth taking a close look when it happens!

To think these were 0.05p a year back.

On the move again atm.

yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Good volume today and rise.

thanks mitzy hope you are / were in
gl

I'm in gibby like you..