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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.

"rising to as high as 1.4p from just 0.6p as recently as August 12."

They really should do their research!

As posted above, I had a limit order in yesterday morning which didn't get filled because of the speed of the trades.

yep things were moving at quite a pace! not surprising really - wonder what next week will bring gl

sod it..bought in today...complete u turn...lithium is the one to be in...forget gold,silver,platinum...could make us millionaires

Mexico Lithium Joint Venture Update

Rare Earth Minerals (AIM: REM) is pleased to announce that it has today been informed by its joint venture partner Bacanora Mineral Ltd ("Bacanora") that additional concessions, contiguous with the existing Fleur and El-Sauz concessions the ("Existing Concessions") that contain the Fleur-El Sauz Lithium deposit in northern Mexico, have been staked and mineral rights secured.

The acreage under the Joint Venture has as a result been increased by approximately 60% from 3,305 hectares to 5,325 hectares.

The new total of 5,325 hectares of concessions, are the subject of a joint venture between Bacanora and REM, pursuant to which REM has given notice to increase its interest in the joint venture from 10% to 30% and has a first right of refusal to negotiate a deal to further increase its interest in the joint venture to 49.9%.

These new concessions cover strategic ground to the east and north of the Existing Concessions where it is believed that the Lithium-bearing clay units within the Existing Concessions identified by the stage 1 drilling programme may extend down-dip and eastward.

REM Closes Part of Equity Swap for £2.16 million

Rare Earth Minerals (AIM: REM) is pleased to announce that it has completed a 58% partial close of the existing Equity Swap Agreement with YA Global Master SPV, Ltd. ("YAGM"), and is to receive a cash payment of £2,157,684 without issuing any further equity in the Company. YAGM has agreed to lock in all their remaining shares in REM until at least the 1 November 2013.

REM Granted Greenland Exploration Licence

REM Granted Greenland Exploration Licence Adjacent to Kvanefjeld Deposit
REM (AIM:REM) is pleased to advise that the licence application made directly with the Bureau of Minerals and Petroleum in Greenland, as announced on the 4 February 2013, for the strategic 38 sq. km mineral exploration licence to explore for rare earth minerals, has just been approved by the Government of Greenland. The licence number assigned to this concession is 2013/20 at Kussanga in West Greenland. The exploration licence area's north eastern boundary is approximately 500 metres from the exploration licence area owned by Greenland Minerals and Energy (ASX: "GGG") which hosts the substantial Kvanefjeld rare earth element, uranium and zinc deposit.

Kvanefjeld plus two other of GGG's associated deposits in the Ilimaussaq Complex have JORC compliant Inferred and Indicated resources that total 956 Mt at 1.08% total rare earth oxides, 273 ppm U3O8 and 2,351 ppm Zn at a cut-off grade of 150 ppm U3O8. The project is currently undergoing a feasibility study for development of the Kvanefjeld deposit.

David Lenigas, REM's Executive Chairman commented:

"We are pleased to have secured exploration rights over this strategic block in Greenland, particularly as it sits alongside the world class Kvanefjeld rare earth, Uranium and Zinc deposit."

"We see this whole regional play as becoming more interesting as GGG get closer to completing their feasibility study."

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Mexico Lithium Project Update

Rare Earth Minerals to kick off Mexican drilling

Investments

Rare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company is pleased to announce that it has made further market investments totalling $0.186 million in Bacanora Minerals Limited ("Bacanora") and Western Lithium USA Corporation ("Western Lithium").

Investments

Rare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company is pleased to announce that it has made a further market investment totalling $0.05 million in Bacanora Minerals Limited ("Bacanora").

Investments

Bacanora is a TSX-V listed company exploring for and developing industrial mineral resources in Mexico with a primary focus on Borates and Lithium. It is the joint venture partner of REM in the Fleur-El Sauz Lithium project (the "Joint Venture"). REM now has an interest of approximately 0.90% in the issued share capital of Bacanora, acquired at a cost of $0.25 million. This interest, when aggregated with REM's 30% direct interest in the Joint Venture, results in a total economic interest in the Joint Venture of approximately 30.63%.

- ends -

Board Changes and Appointment of CEO

Rare Earth Minerals plc (AIM: REM), the rare earth minerals and metals investment company, is pleased to announce that it has appointed Kiran Mozaria as Chief Executive Officer ('CEO') and Donald Strang as Finance Director of the Company. Mr Richard Griffiths has also stepped down as a non-executive director of the Company.

David Lenigas, the Company's Executive Chairman, commented:

"The past few months have been a very exciting and positive time for the Company with the exploration success in the Fleur-El Sauz Lithium Project in northern Mexico. With the pace at which we are moving the project forward the board concluded that it is timely to appoint two key executives to manage our development. We are fortunate to have been able to recruit Kiran and Donald, who have a wealth of experience in their respective fields."

"I would also like to thank Richard Griffiths for his very important contribution to the early stage growth of the Company. I have greatly valued his advice."

Kiran Morzaria (aged 39) holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School. He has fourteen years of experience in the mineral resource industry. Mr Morzaria spent his first four years in exploration, mining and civil engineering. Mr. Morzaria has been active in IPOs, corporate acquisitions, joint ventures, qualified persons reports, due diligence and debt/equity raisings. He has served as a director of a number of public companies, including Lonrho plc and Vatukoula Gold Mines plc.

Donald Ian George Layman Strang (aged 45) is a member of the Australian Institute of Chartered Accountants and has been in business over 20 years, holding senior financial and management positions in both publicly listed and private enterprises in Australia, Europe and Africa. Mr Strang has considerable corporate and international expertise and over the past decade has focussed on mining and exploration activities. He is currently the Finance Director of Polemos plc, Stellar Resources plc and AfriAg plc and is the Non-Executive chairman of Doriemus plc.

Unaudited Interim Results

First Half Highlights

· Signed an agreement with listed Canadian company Bacanora Minerals (BCN.V) to participate in
drilling and project evaluation of the 34 square kilometre El Sauz and Fleur Concessions in northern
Mexico, taking an initial 10% stake.

· Raised £400,000 in a placing to pay for drilling and exploration commitments on the El Sauz and Fleur
Lithium Project.

· Applied with the Bureau of Minerals and Petroleum in Greenland for a strategic 38 square
kilometres mineral exploration licence for rare earth minerals.

Post First Half Highlights

· Exercised the Company's option to acquire a further 20% holding in the Fleur-El Sauz Lithium
Project, increasing its interest from 10% to 30%.

· Issued a maiden resource estimate at the Fleur-El Sauz Lithium Project with an initial inferred
resource of 1.78 million tonnes of Lithium Carbonate Equivalent (LCE), from 153.8 million tonnes grading 1.09% LCE at a 1,000 ppm Lithium cut.

· Joint-venture partner Bacanora Minerals Ltd. (BCN.V) secured additional concessions that have
increased its area of mineral rights around the Fleur-El Sauz Lithium Project by 60%.

· Completed a 58% partial close of the existing equity swap agreement with YA Global Master SPV, Ltd
raising £2.16 million for the Company, without issuing any further equity.

· Government of Greenland approves the license to explore for rare earth minerals at the 38 sq. km
mineral exploration adjacent to the Kvanefjeld rare earth element, uranium and zinc deposit.

· A significantly larger Stage 2 drilling programme has been commissioned on the joint venture lands
of the Lithium Project in Mexico, and detailed metallurgical test work has commenced to determine
the economic parameters for a Preliminary Economic Assessment.


Financial & Corporate
· Cash at bank and cash equivalents of approximately £2.4m as at 24 September 2013.
· Pre-tax group loss for the period of £323,000 (30 June 2012: loss of £356,000)
· In September 2013, Donald Strang was appointed Finance Director; Kiran Morzaria was appointed
CEO and Richard Griffiths stepped down from the board.

Targets to the end of 2013

· Publish the NI 43-101 resource on Fleur-El Sauz.
· Continued drilling on Fleur -El Sauz to increase the overall Lithium resource.
· Establish the metallurgical characteristics of the Lithium bearing clays.
· Publish a Preliminary Economic Evaluation on Fleur-El Sauz.
· Plan a detailed exploration programme in Greenland for Spring 2014.
· Assess further investment opportunities.

JUST bought in today...been told massive news imminent

see what i mean 400m shares traded today...if you wanna know inside info follow the maestro van

Looking good,,done well with REM having been in since before the big rise.. I'm also in CCE which has had a good day today

FML could out trump them all though... 20m market cap sitting on 1.9bn of resources

Mexico Lithium Project Update

Rare Earth Minerals (AIM: REM) is pleased to announce that the larger Stage 2 drilling programme on the Joint Venture Lands ("JV Lands" or "Project", i.e. Fleur-El Sauz concessions) in northern Mexico is due to start at the end of this week.

David Lenigas, the Company's Chairman, commented:

"The start of the Stage 2 exploration programme represents a busy period for the Company. We are expecting the technical report documenting the maiden lithium resource, in compliance with Canada's NI 43-101F1, to be filed on SEDAR within the next two weeks "

Stage 2 Drilling Programme:

The drilling contractors have now prepared the access roads and drill pads for 24 new drill holes. Drill crew and equipment are being mobilised this week to commence the larger Stage 2 drilling programme on the JV Lands on 6 October 2013.

The prime focus for the Joint Venture partners for the Stage 2 exploration programme on the JV Lands is to significantly expand the global lithium resource, assess the metallurgy and recovery options and provide a realistic and meaningful economic assessment of the potential commercial value of this deposit.

The drilling is designed to not only infill the known mineralisation into better defined categories under the NI 43-101 reporting standards, but is also designed to test for extensions of the deposit, both down dip to the east and along strike to the south, as the deposit remained open in both of these directions. Recent surface mapping has identified further potential to extend the lithium-bearing clays by approximately 2km along strike to the south-east from the previously identified mineralisation and some of this potential will be tested in the upcoming drill programme.
Qualified Person's Statement:

Information in this announcement relates to information compiled by Carl G Verley, P.Geo, a consultant to the Company, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is a Qualified Person with respect to the information disclosed herein.

Mexico Lithium Project - NI43-101 Technical Report

Mexico Lithium Project - NI43-101 Technical Report


Rare Earth Minerals (AIM: REM) announces that the Company's Joint Venture Partner Bacanora Minerals Ltd ("Bacanora") has filed the Technical Report ("Report") on the maiden estimated resource in respect of the Fleur and El Sauz concessions ("Concessions") that form part of the Sonora Lithium Project in northern Mexico.

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 is also available for download on the Company's website at www.rareearthmineralsplc.com.

The total inferred Lithium Carbonate Equivalent ("LCE") resources at a cut-off of 2,000 ppm lithium on the Fleur-El Sauz Project is 1,486,000 tonnes LCE from 88,271,000 tonnes of clay at an average grade of 1.68% LCE. REM has at present a 30% interest in the Fleur-El Sauz Project, implying REM's share of the estimated inferred resource is 445,800 tonnes of LCE.

The initial inferred lithium resources for the Concessions apply a cut-off of 2,000 ppm Li for the combined Upper and Lower Clay Units. The Upper Clay Unit has an inferred Li resource estimated at 20,060,000 tonnes averaging 2,748 ppm Li (1.46% LCE) and the Lower Clay Unit has an inferred Li resource estimated at 68,211,000 tonnes averaging 3,278 ppm (1.75% LCE).

The recently completed drilling campaign on the Concessions tested a 4 kilometre strike length of the lithium-bearing volcanic-sedimentary succession, which remains open down dip and to the east as well as on strike to the south. A relatively high-grade portion of the deposit underlies the northern 2.7 kilometres of the area tested and, at a cut-off of 3,000 ppm Li, contains 53,929,000 tonnes averaging 3,922 ppm Li (2.09% LCE).

In addition, other potentially valuable alkali metals and alkali earth metals, such as potassium, cesium, rubidium and strontium show marked anomalism in the clays that host the lithium and are being investigated to determine if they will add further value to the deposit.

Further drilling has commenced to test for additional resources, as the Lithium bearing clays in the deposit identified to date remain open on strike to the south and to depth, down dip to the east.

Mexico Lithium Project - Update Stage 2 Drilling

Rare Earth Minerals PLC (AIM: REM) announces that the first hole of a scheduled 24 hole second phase of diamond drilling (Stage 2 Programme) has been successfully completed and identified 59 metres of the same clay formation previously encountered during Phase one drilling on the El Sauz and Fleur Lithium concessions (the "Concessions" or individually, a "Concession") in northern Mexico.
David Lenigas, Rare Earth Minerals Chairman commented:
"The Company is very pleased to have started the second stage of drilling on this Lithium Project and that the first hole has successfully intersected the same sequence of clay down dip from the previously identified lithium-bearing clays. With drill and assay results from the expanded programme, it is expected the new data will provide further evidence that the concessions host a new, large lithium resource."
Update:
The diamond drill under contract from Godbe Drilling of Colorado, USA has completed the first hole of this campaign (ES-11) approximately 200 metres northeast of hole ES-01 and within 20 metres of the boundary with the neighbouring La Ventana concession to the north. It was drilled to a total depth of 258.16 metres and intersected a 35 metre interval of the upper clay unit and a 24 metre interval of the lower clay unit. The estimated true thickness of the upper clay is 33 metres and that for the lower clay is 22.5 metres. The preliminary log of the main units intersected in ES-11 is tabulated below.

The result of the first hole successfully demonstrates continuity of the clay units to depth down dip of the previously drilled resource and this new mineralisation will add to the overall resource once assays confirm the quantities of Lithium in the clay. A full suite of analytical results for lithium and other alkali metals and alkali earth metals from drill core samples are expected over the coming weeks.

more....

Oct 24 (Reuters) - Greenland's parliament voted on Thursday to end a decades-long prohibition on mining for radioactive materials like uranium, further opening up the country to investors from Australia to China eager to tap its vast mineral resources.

The move will not only allow the mining of uranium deposits, but also of rare earths, minerals used in 21st century products from wind turbines to hybrid cars and smart phones and that are currently mostly extracted by China.