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Additional Information
Market: AIM
Sector: General Mining - Rare Earth Minerals
EPIC: REM
Latest Price: 0.15p  (0,00%)
52-week High: 0.64p
52-week Low: 0.13p
Market Cap: 2.17M
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Rare Earth Minerals plc
www.rareearthmineralsplc.com
Rare Earth Minerals plc (formally Zest Group) principal business is to acquire a diverse portfolio of direct and indirect interests in exploration and producing rare earth minerals and or metals projects and assets ("Investing Policy"). In light of the nature of the assets and projects which will be the focus of the Investing Policy the Company will consider investment opportunities in the world.

Full Rare Earth Minerals plc profile here
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Rare Earth Minerals buys shares in Greenland Minerals and Energy

6th Dec 2011, 9:14 am by Jamie Ashcroft Rare Earth Minerals buys shares in Greenland Minerals and Energy

Rare Earth Minerals (LON:REM) today revealed that it has acquired 1.27  million shares in Australian firm Greenland Minerals and Energy (ASX:GGG) through on market transactions.

It bought the shares, which represent 0.31 per cent of GME’s share capital, for a total of £515,427.

GME flagship project is the giant Kvanefjeld uranium, rare-earth and zinc deposit. Its flagship project is Kvanefjeld, a giant multi-element deposit (Rare Earth Elements-uranium-zinc) located near the southwest tip of Greenland. 

Kvanefjeld has a total JORC resource of 619 million tonne resource including an indicated uranium resource of 437 million tonnes, for 350 million pounds. The project also has 6.6 million tonnes of total rare earth oxide and 1.36 million tonnes zinc.

"This investment in Greenland Minerals, following on from our other two investments provides us with a good spread of exposure to the Rare Earth mineral sector,” said REM chief executive David Lenigas.

“We will continue to review a number of attractive opportunities as we seek to expand our portfolio.''  

Today’s update represents REM’s third investment. Last week it announced that it had acquired a 30 per cent stake in the Yangibana project in Western Australia. Earlier this year it acquired a 51 per cent stake in the Cup Lake project in Canada. 

REM said it has now implemented the investment policy adopted by shareholders in November 2010 and it is currently reviewing further opportunities in the Rare Earth sector.

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