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.

Here is the RNS :-

Significant Lithium Recoveries from Mexico

Rare Earth Minerals PLC (AIM: REM) is pleased to announce a potentially significant development in the advancement of the Sonora Lithium Project in northern Mexico, of which REM has a 30% direct interest in the Fleur-El Sauz Concessions of the Project and an economic interest of 31.5% due to REM's direct 2.2% shareholding in Bacanora Minerals Ltd ("Bacanora"). Bacanora has released the results of the preliminary metallurgical testing, the full text of which follows at the end of this announcement.
David Lenigas, Rare Earth Minerals Chairman commented:
"The metallurgical recoveries announced by Bacanora, of up to 90.4% of Lithium Carbonate from the initial independent test work on their section of the Sonora Lithium Project's clays, are potentially economically significant to REM and this bench scale work shows categorically that Lithium can be extracted from this large Lithium Clay deposit."
"The high recoveries of Lithium Carbonate demonstrate that Lithium from the La Ventana section of the Sonora deposit is indeed soluble and indicate that Lithium Carbonate can be produced from the resulting solution. The Company looks forward to working with our Joint Venture partner in advancing efforts to achieve a commercial grade lithium product as well as investigating the recovery of other alkali metal compounds contained within the deposit".
Metallurgical test work has begun at the Metallurgical Division of Inspectorate Exploration and Mining Services Ltd of Richmond, Canada on samples from the southern extension of the La Ventana deposit on the Fleur-El Sauz concessions that form part of the Bacanora / REM Joint Venture Lands. Further details on the test work are available from Bacanora's Press release 4/11/2013.
- Ends -

hope you guys did well here before the retrace
atb

what retrace? going the other way if you ask me

didnt david lenigas buy at .79p recently?

Completion of Increased Interest In Joint Venture

Rare Earth Minerals PLC (AIM: REM) is pleased to announce that further to the announcement of 5 September 2013, the Company has now received formal notification that it officially owns 30% of the shares of MEXILIT SA de CV ("MEXILIT"), the local Mexican company that holds the El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 Concessions which form part of the overall Sonora Lithium Project in northern Mexico. The acreage held by MEXILIT totals 5,325 hectares.

As previously announced, REM continues to have a first right of refusal, under the agreement with Bacanora, to negotiate terms to further increase its interest in the Project to 49.9%.

Mexico - Discovery of Rare Metals

Mexico - Discovery of Rare Cesium, Potassium, Magnesium, Rubidium and Strontium Metals


Rare Earth Minerals (AIM: REM) is pleased to announce that Baconora Minerals Ltd ("Bacanora") has released new alkali metal and alkali earth metal inferred resources for the Fleur-El Sauz Concessions in northern Mexico. Bacanora's release is shown in full below. In accordance with Canadian NI 43-101, Bacanora will prepare a technical report in respect of this initial inferred resource estimate, which will be filed on SEDAR within 45 days from today.

looks like a good buy sp right now

Mexico Update

Mexico Update - New lithium clays discovered and 1,800% increase in acreage

Rare Earth Minerals (AIM: REM) announces that lithium-bearing clay units in northern Mexico have now been identified at surface in 4 parallel trending sequences that are estimated to extend for at least 40 kilometres in strike length. A new joint venture ("JV #2") with Bacanora Minerals Ltd ("Bacanora") has been entered in to that covers these new discoveries and increases concessions under both joint ventures by over 1,880% from 5,325 hectares to 100,140 hectares (247,451 acres).

David Lenigas, the Company's Chairman commented:

"REM now has a direct interest in a quarter of a million acres of high prospective ground for lithium and potentially other valuable metals."

The new concessions cover strategic ground surrounding the entire Sonora Lithium Project, where lithium-bearing clay units have now been identified at surface in 4 parallel and arcuate north-westerly trending sequences that are estimated to extend for at least 40 kilometres in strike length. Reconnaissance work by Bacanora has identified clay units on the new concessions where surface samples of the clays have analysed up to 1,350 parts per million lithium.

The JV is preparing to initiate the first stage of an exploration program on the new concession, consisting of geological mapping, surface rock sampling and identification of lithium drill targets.

REM has agreed the new JV #2 deal with Bacanora on:

· The new Megalit concession staked by Bacanora totals approximately 94,815 hectares (234,291 acres) in area and is contiguous with and surrounds the entire Sonora Lithium Project in northern Mexico.
· Bacanora's key and strategic 1,500 hectare San Gabriel and 649 hectare Buenavista concessions which immediately joins their La Ventana deposit.
The key terms of the additional concessions package deal (JV #2) with Bacanora are:

· REM is to acquire an initial 10% interest in the additional concessions package by paying Bacanora $250,000 and spending $500,000 on exploration and drilling over a 12 month period.

· After the first 12 month period, REM then has the right, at its election, to increase that interest in the additional concessions package to 30% by paying Bacanora another $500,000 and spending a further $1,000,000 on drilling and exploration over a further 12 month period.

REM will have an exclusive right of first refusal to further negotiate terms to increase the interest in the additional concessions package to a maximum of 49.9%, provided the terms comply with the Company's stated investment strategy. This right of first refusal will expire on 1 December 2015.

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.

- Ends -

I'm staying in for the time being.. well up with this one and have taken profits so running the balance!

Mexico Lithium Project

Mexico Lithium Project - First Results Stage 2 Drilling confirms thickness and grades
Rare Earth Minerals PLC (AIM: REM) announces that it has received analytical results for the first 6 holes of the second phase of diamond drilling (Stage 2 Programme) onthe 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 confirmed continuity of the clay units between holes. The results demonstrate excellent consistency in thickness of the clay units and grade of lithium within the clays."
"Reiterating Bacanora's President views of the new drilling results so far; these step-out and infill holes demonstrate an increase in thickness of the upper clay unit as well as an increase in grade of Li within the clays when compared to previously reported results."

Update:

Significant lithium-bearing intervals were intersected in all of the drill holes. The weighted average values for these intercepts are listed below (Table 1).

The first 6 holes of Stage 2 tested, by way of infill and step out holes between the first 5 holes of Stage 1, a strike length of 2,100 metres of the clay units south from the southern boundary of the La Ventana concession across the Fleur and onto the El Sauz concession. Within the area drilled, the average intercept length for the Upper Clay Unit was 35.841 metres (33.69 m estimated true thickness2) and 27.373 metres (25.73 m estimated true thickness) for the Lower Clay Unit. The average length of sample intervals in the Upper Clay is 1.47 metres and Li values range from 27 to 5,910 ppm Li, averaging 1,404 ppm Li for individual samples. For the Lower Clay Unit the average length of sample intervals is 1.49 metres and Li values in individual core samples range from 1,250 to 9,660 ppm Li, averaging 4,177 ppm Li.

the start of a rally now?

PEA news imminent I believe

Mexico Lithium Project - NI43-101 Technical Report

REM increases its holding in Bacanora Minerals Ltd.

Drilling Increases Size of Mexican Lithium Projec

Highlights:
· Results of additional 7 new holes show lithium values averaging 1,683 ppm (0.90% LCE) over 20.88 metres in the upper clay and 4,821 ppm Li (2.57% LCE) over 28.80 metres in Lower Clay, which are in line with expectations.
· An additional 5 holes drilled further along strike to the south-east have extended the deposit by 3 kilometres further than previously drilled, with analytical results pending.
· Surface grades have now been recorded up to 16,410 ppm (1.64 % Li or 8.7% LCE).
· Construction of new bulk testing pilot plant has commenced.
· Drilling to be initiated on the new 94,815 hectare Megalit concession (Joint Venture #2 Lands).

LISTEN: Rare Earth Minerals (REM) - Mexico Lithium Project update

Click here to listen

LISTEN: Kiran Morzaria, CEO of Rare Earth Minerals, discusses the recent £6.4 million conditional placing

Click here to listen

Sonora Lithium Project - Update

Rare Earth Mineral Plc (AIM: REM) is pleased to announce Bacanora Minerals Limited ("Bacanora") has reported significant lithium results from 5 recently completed holes drilled into the lower clay unit on the La Ventana concession (the "Concession") in northern Mexico. The Bacanora news release is shown in full below.

The La Ventana Concession is owned 100% by Bacanora and is the north eastern extension of the Fleur-El Sauz lithium resource. REM has increased its shareholding in Bacanora to 5.47% after additional on market share purchases costing £80,000. This interest, when aggregated with REM's 30% direct interest in the Fleur- El Sauz Joint Venture, results in a total economic interest in the Fleur- El Sauz Lithium Joint Venture in northern Mexico with Bacanora of approximately 33.8%.

The 5 holes were drilled in order to upgrade the lithium resource in the up-dip section of the lower clay unit on the Concession. Within the 3.5 kilometre exposure of clays on the Concession, a strike length of 2.4 kilometres of the lower clay unit was tested during the recent program. Within the area drilled, the lower clay unit ranges from 16.92 to 26.21 metres in intercept length, averaging 19.57 metres (18.4 m estimated true thickness1). The weighted average of lithium values in samples taken across the intercepts range from 1,377 to 5,809 ppm Li (0.73 to 3.09% LCE2).

Final Results

A Transformational Year

The last financial year has been a transformational one for Rare Earth Minerals Plc ("REM") following our significant investment in the Fleur and El Sauz Lithium Project in northern Mexico - in which we have built a 33.8% economic interest. It is one of the new more significant lithium discoveries in the world in recent years. As at today's date, and as we embark on a continued growth phase for the Company, we are in the strongest financial position in the Company's recent history with cash and assets held for resale at our disposal of approximately £8 million.

Successful First Phase of Drilling at Lithium Project

Our joint venture with Bacanora Minerals Limited of Canada ("Bacanora") has so far successfully delineated 1.48 million tonnes of Lithium Carbonate from the first phase of drilling from clay deposits on the concessions. REM is optimistic of significant increases in this resource once the results are available from the completed second phase of drilling.

Increased Stake in Lithium Joint Venture Partner in Mexico

Not only has REM's management been working tirelessly with Bacanora on the Fleur and El Sauz concessions, but we have also increased our footprint in the Sonora Province by acquiring 5.45% of the shares in Bacanora. We have also signed the important second joint venture with our partner on the surrounding 200,000 acre Megalit concession, where we see potential for significantly increasing drill-defined lithium resources this year.

Activity and Updates Expected in the Coming Months

Over the past twelve months, we have published more than twenty updates or drilling reports on our Mexican project. We now look forward in 2014 to the Sonora Lithium Project, of which the Fleur and El Sauz concessions comprise the bulk of the identified lithium resources, gaining international recognition as a potential, meaningful supplier to the world lithium market. This will be aided by the publication of upgraded lithium resources, detailed metallurgical analyses and publication for the first time of the Project's potential economics.

Pursuing Our Stated Strategy

To reflect the potential of the Sonora Lithium Project, REM intends to continue with its stated strategy of increasing its holdings in both Bacanora and the Project itself.

We also expect to maintain the Company's efforts in both Greenland and Australia where we have important exploration targets.

Strong Long-Term Outlook

Your board believes that the long-term outlook for the Company is strong, particularly in light of the recent world focus on lithium demand which was highlighted by Tesla Motors' announcement of plans to build a US$5 billion Lithium Ion battery "gigafactory" in one the southern states of the USA in partnership with Panasonic.

Your board is, of course, duty bound to ensure that each set of drill results on our lithium project reflects the factual state of play at each reporting point. Beyond this, your board wishes to inform shareholders that it is very excited about the project's potential to eventually play a significant role in the global market for the supply of lithium. The board believes unequivocally that this project is of exceptional quality.

I would like to take this opportunity on behalf of the board to sincerely thank our staff, consultants and joint venture partners for their dedication this year and to thank our invested shareholders for their continued support.

Update on the Sonora Lithium Project, Mexico

Rare Earth Minerals Plc (LSE AIM: REM)) announces that further to the announcement on 5 December 2013, the definitive joint venture agreement with Bacanora Minerals Limited ("Bacanora") on the 94,814 hectare Megalit Concession that surrounds the Sonora Lithium Project in northern Mexico has now been signed. A new 3,000 metre drilling programme will commence on the Project in the coming weeks with half the metres designed to upgrade the Lithium resources from the inferred resource category to the indicated resource category and increase the resource, and half designed to test new Lithium targets along strike..

Highlights:

· The concessions held under joint venture interests in the Mexican Sonora Lithium Project have now formally increased to 100,140 hectares (247,451 acres) with the signing of the Megalit joint venture.

· A 1,500 metre drill program for the Penasco Lithium Prospect on the Megalit concession.

· A new 1,500 metre Stage 3 drill program will be initiated on the Fleur and El Sauz concessions with the objective of upgrading the lithium resource from the inferred resource category to the indicated resource category.

director buying today