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

Related Articles

Madagascar Oil shares suspended 17 Dec 2010
Internet talk of Falkland oil discovery ramps Desire 28 Oct 2010
Revealed: how Desire's advisers have cashed in 29 Oct 2010
Miners finish with flourish as FTSE 100 limps towards 201131 Dec 2010
Lenigas aims to mine rich seam in rare earths31 Dec 2010
Beware dreams of gushing Falklands oil after Desire's flop31 Dec 2010
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.

Statement re: Press Speculation


REM notes the speculation in today's press regarding an update on its lithium operations in Mexico. The Company expects to provide an update on its operations in due course.



-END-

Top mover today.

Scoping Study

US$2 Billion NPV Valuation of El Sauz and Fleur Lithium Project, Mexico.

Rare Earth Minerals Plc (London AIM: REM) is pleased to announce the results of its Scoping Study ("Scoping Study") on the El Sauz and Fleur Lithium Project in northern Mexico, in which it has an economic interest of 38.4%. As a result of the Scoping Study which is summarized below, the Board of REM believe the El Sauz and Fleur lithium project has the identified potential to be one of the world's largest Lithium Carbonate ("LCE") producers, capable of producing up to an average of 75,600 tonnes LCE per annum which is equivalent to approximately 45% of the estimated global production in 2012 (note 1).

HIGHLIGHTS

· Pre-tax net present value ("NPV") of US$2,023 million based on a discount rate of 8% and a Lithium Carbonate Equivalent (LCE) price of US$6,500 per tonne.
· Average total cash cost of US$2,525 per tonne of LCE over life of mine, with an average operational cash flow of US$233 million per year.
· The NPV is achieved with a constrained optimised pit shell of an average of 69,800 tonnes of lithium carbonate per annum over an initial 20-year mine life, with an average of 75,600 tonnes of lithium carbonate per annum between years 2-19.
· Mined from a single open pit, 2.75 km long, 1.4 km wide and 400 metres deep containing 1.39 million tonnes of lithium carbonate (recoverable).
· Plant and infrastructure capital cost of US$422 million for a plant with a rated maximum capacity of 11.7 million tonne per annum ("Mtpa").
· Payback period of 3.3 years, after taxes and royalties.

Rare Earth Minerals - US$2 Billion NPV Valuation of El Sauz and Fleur Lithium Project, Mexico

Click hre

Western Lithium Ships First Organoclay Order

Sonora Lithium Project expanded

Sonora Lithium Project expanded with new drilling discovery.

Rare Earth Minerals Plc (London AIM: REM) is pleased to announce the results of the successful drilling campaign on the southern 3 km of an estimated 6 km strike extent of lithium bearing clays on the Buenavista Project ("Buenavista"). The exploration programme targeted a new and previously untested deposit type in the Sonora Lithium Project, which is thought to be of fluvial origin and eroded from a primary lithium source, as opposed to the types of deposits previously drilled at the Sonora Lithium Project in northern Mexico. The results confirm significant thicknesses of lithium bearing clays, very close to surface, at greater than 1,000 ppm Lithium values.

David Lenigas, the Company's Chairman, commented:

"These drilling results from Buenavista are highly encouraging, especially given the geological simplicity of the deposit and the minimal overburden which overlies the lithium, both of which would serve to reduce the potential mining costs of such a deposit. Moreover the results prove that there are other continuous lithium deposits within the Sonora Lithium Project, which will add to the already substantial Indicated Lithium Resources of 3.28 million tonnes of Lithium Carbonate Equivalent ("LCE") already defined at La Ventana, Fleur and El Sauz."

Highlights of Drill Results

· 24 reverse circulation holes tested approximately half of the 6 km strike length of the lithium-bearing clays exposed at Buenavista.
· The lithium-bearing clays outcrop at surface and dip gently to the east, providing a target for potential open pit mining with a minimal strip ratio.
· Significant lithium values (i.e. greater than 1,000 ppm Li) were found in 13 of the 24 holes.
· Of those 13 holes, 11 reported significant thicknesses and grades of lithium-bearing clays, as tabulated below in Table 1.
· Lithium values of individual 1.0 metre samples, within the significant intervals, range from 336 to 2,210 ppm Li.

more....

Full Scoping Study - Mexico Lithium Project & Updated Company Presentation

Rare Earth Minerals (AIM: REM) today advises that The Company's latest presentation has been posted to its website.

The Company has also posted to its website a copy of the full Scoping Study ("Study") completed last year. The material aspects of the Study were announced on the 22 December 2014.

Both of the above documents are available at the Company's website www.rareearthmineralsplc.com.

- Ends -

Will there be a early rights issue

REM increases strategic holding in Bacanora Minerals to 14.37%

Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in Bacanora Minerals Limited ("Bacanora"), from 13.30% to 14.37% through further market purchases totaling £547,860.

This interest, when aggregated with REM's 30% direct interest in Megalit S.A de CV (the company holding the Buenavista, Megalit and San Gabriel concessions) and the 30% direct interest in Mexalit S.A de CV (the company holding El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 concessions), results in a total economic interest in each of these companies of 40.06%.

David Lenigas, The Company's Chairman, commented:

"REM believes that 2015 will represent a pivotal year for Bacanora. The work being carried out on the Sonora Lithium project will, we believe, cement this project as globally significant and one that could service a large proportion of the rapidly increasing lithium market. Given the importance of the deposit and as part of our strategy to increase our exposure to the Sonora Lithium Project we have continued to purchase additional shares in Bacanora.


- Ends -

Western Lithium Produces First High Purity Lithium

Highlights from the Western Lithium news release are set out below:

· 99.8% high quality lithium carbonate produced in first trail run of Western Lithium's demonstration plant in Germany.

· Western Lithium expects to produce several tons of lithium products in 2015 to verify equipment selection and to provide production run samples for potential off-take sales.

· Permitting and engineering work is planned to accelerate in 2015 based on current discussions with several strategic partners that have indicated interest to partner with the Company.

· Lithium hydroxide studies have been advanced to finalise the design of Western Lithium's lithium hydroxide circuit for production. The Company expects to test its lithium hydroxide circuit in pilot tests in 2015.

· Western Lithium has previously tested its high purity lithium product in battery tests with a leading lithium-ion battery laboratory in the the United States, that demonstrated satisfactory performance in cycle testing of lithium-ion battery cells

REM's Chairman to join the board of Bacanora

UK based SRK Consulting contracted to the Sonora Lithium Project

Rare Earth Minerals Plc (AIM: REM) is pleased to announce that SRK Consulting (UK) Limited ("SRK") has been appointed as part of the engineering team to review and prepare an updated resource statement on the Sonora Lithium Project in northern Mexico, in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Joint Ore Reserve Committee ("JORC") guidelines.

This resource statement will form the basis for detailed mine design work required for the completion of the Sonora Project's pre-feasibility study and will be used in negotiations with potential project partners and potential lithium off-take partners.

David Lenigas, The Company's Chairman, commented;

"SRK's appointment as part of the team of internationally recognised consultants is important to the further development of the Sonora Lithium Project and their experience in the lithium sector will be invaluable as this exciting project advances."

"The recently reported drilling success on the Sonora Lithium Project should result in further increases to the already reported indicated mineral resource 3.28 million tonnes LCE, and we look forward to updating the market which could be as early as the end of April 2015."

- Ends -

REM's Chairman joins the board of Bacanora Minerals Ltd.

London listed Rare Earth Minerals Plc (AIM: REM) is pleased to announce that REM's Chairman, David Lenigas, has joined the board of directors of Bacanora Minerals Ltd ("Bacanora") as a non-executive director with immediate effect.


David Lenigas, The Company's Chairman, commented;

"I am pleased to join REM's CEO, Kiran Morzaria, on the board of Bacanora at this exciting stage of the development of the Sonora Lithium Project in northern Mexico."


Colin Orr-Ewing, Non-Executive Chairman of Bacanora, commented:

"We are very pleased to have received all required approvals to allow David to join our board and look forward to him immediately bringing his extensive experience to assist in further advancing the Company."

- Ends -

Rare Earth Minerals - Analyst Interview, WH Ireland

Click here

Update on Yangibana Rare Earths Element Project

HIGHLIGHTS (from Hastings news release)
· Tests indicate that Yangibana North beneficiated concentrate contains around 4.25%Nd2O3 (8.3%Nd2O3-Eq*) and Bald Hill South around 8.1%Nd2O3 (14.0%Nd2O3-Eq*)
· At current commodity prices these Nd2O3-Eq* figures equate to values of US$4,900/t and US$8,300/t of concentrate respectively
· Flotation tests are achieving 90% recovery of rare earths into 7% of original mass with a >13 times increase in rare earths grade to >20% TREO
· Results indicate potential to significantly reduce capital costs of the hydrometallurgical plant compared to the estimate used in the scoping study
· Hydrometallurgical plant now only required to treat around 70,000 tonnes per annum (tpa) compared to 200,000 tpa

David Lenigas, The Company's Chairman, commented;

"The continued advancement of the pre-feasibility work on the Yangibana REE deposit has yielded some excellent results in terms of recovery and in particular, what would be a significant reduction in capital costs as a result of the lower ore throughputs required at the hydrometallurgical plant"

- Ends -

Sonora Lithium Project Update

Rare Earth Minerals - Yangibana & Sonora Lithium Project Update

click here

Rare Earth Minerals - Sonara Lithium Project March 2015

click here

Update on Yangibana Rare Earths Element Project

HIGHLIGHTS

· PFS to include expansion of the existing JORC resource base with infill and extension drilling at a number of the deposits defined by drilling in 2014
· Tetra Tech Proteus - major international engineering group - lead consultant
· Other consultants are:-
• Snowden Mining Consultants - mining studies and resource review
• Core Process Engineering - process design, hydrometallurgical and separation test work
• ATC Williams - water management, waste rock and tailings
· Ecoscape - environmental approvals and permitting
· Radiation Professionals - radiation management
· Austwide Mining - heritage protection and native title
· Mount Magnet Drilling will undertake both reverse circulation and diamond drilling during the PFS stage

David Lenigas, The Company's Chairman, commented;

"We are pleased with the appointment of a highly experienced PFS team, including individuals well-versed in developing REE deposits. We eagerly anticipate the outcome of the Yangibana REE Project PFS, and are confident that this team will enable the acceleration of its delivery."

- Ends

Update in Lithium Resources for the Sonora Lithium Project.

Rare Earth Minerals Plc (LSE AIM: REM)) is pleased to announce a substantial increase in the Mineral Resource for the Sonora Lithium Project in the northern Mexico in which it holds an interest though its 15.4% holding in Bacanora Minerals Ltd ('Bacanora') and the joint ventures interest of 30% in each of Megalit S.A. de CV and Mexalit S.A. de CV as more fully described below. The combined Sonora Lithium Project now has an updated Mineral Resource Estimate ("MRE"), which has more than doubled the contained metal and has identified a further exploration target which have the potential to add a further 2.4 to 4.6 million tonnes ("Mt") of lithium carbonate equivalent ("LCE"). The MRE was carried out by SRK Consulting (UK) Limited ("SRK"), an independent consultant.

· Indicated portion of the MRE is gross 1.12 million Mt LCE contained in 95 Mt of clay, at lithium ("Li") grade of 2,200 ppm.

· Inferred portion of the MRE is gross 6.3 Mt LCE contained in 500 Mt of clay at a Li grade of 2,300 ppm.

· Maiden MRE declared for Megalit of gross 0.9 Mt LCE contained in 50 Mt of clay.

· Conceptual extensions within current pit shell have the potential to add 2.4 to 4.6 Mt LCE1 contained in 300 to 250 Mt of clay at a Li grade of approximately 1,500 to 2,500 ppm.

· This MRE (which has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) does not include identified grade and tonnages contained within the Buenavista concession, as further metallurgical testing is required on this deposit; and
· This updated MRE has been developed using a 3D geological model and Kriged grade estimates. The indicated portion of the MRE will be used for initial open pit mine design while we further develop the inferred portion of the MRE.

more...

Sonora Lithium Project Drilling Results

Highlights:

· A total of 2,946 metres were drilled in the 22 in-fill holes from La Ventana.
· Intercepts of the Upper Clay range from 26.10 to 50.83 metres in length and those for the Lower Clay range from 12.98 to 23.57 metres at La Ventana.
· Analyses received for 18 of the 22 holes indicate that the lithium content of both the Upper and Lower clays increase to the south at La Ventana as well as maintaining grade and thickness:
o Weighted averages (Table 1 below) for lithium content in the Upper Clay Unit varies from 955 ppm Li (0.5% LCE ) over 41.6 metres (hole LV-19) to 3,215 ppm Li (1.7% LCE) over 17.48 metres (hole LV-27);
o For the Lower Clay Unit lithium content varies from 1,143 ppm Li (0.6% LCE) over 19.20 metres (hole LV-18) to 5,830 ppm Li (3.1% LCE) over 20.42 metres (LV-27).
o Individual 1.5 metre long samples of clay range up to 10,000 ppm Li (5.32% LCE).
· The hole drilled on the Fleur concession intersected 7.16 metres of the Upper Clay unit, which averaged 3,107 ppm Li (1.7% LCE) and 25.30 metres of the Lower Clay, which averaged 4,242 ppm Li (2.3% LCE).

A map with the drill holes highlighted is available on the Company's website (www.rareearthmineralsplc.com)