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Macarthur Minerals exploration & investment update
Macarthur Minerals exploration & investment update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 7164X Rare Earth Minerals PLC 10 May 2016 \n\nRare Earth Minerals Plc.\n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\nMacarthur Minerals exploration and investment update \nFurther to the Company's announcement of 18 March 2016, REM is pleased to announce that it has been notified by the Australian Foreign Investment Review Board (\"FIRB\") that they have no objection to the previously announced non-brokered private placement (the \"Offering\") into Macarthur Minerals Limited (TSX-V: MMS) (\"Macarthur Minerals\"). All matters concerning the Offering are now complete. As previously announced, REM had entered into a subscription agreement for approximately 15.26% (on an undiluted basis) of Macarthur Minerals' Share Capital for a total consideration of CD$300,000.\nFurther to this, Macarthur Minerals (in which REM owns an approximate 15.26% shareholding), has today announced that it has conducted initial helicopter borne reconnaissance over a number of its Pilbara Exploration Lease Applications. This initial reconnaissance has located pegmatites, which contain one or more minerals indicative of rare element Lithium-Caesium-Tantalum (\"LCT\") class of pegmatites, such as beryl, lepidolite, tin (Sn) and tantalum (Ta) minerals; Sn and Ta to be confirmed by geochemical analysis. Spodumene was also tentatively identified in small crystal clumps in pegmatites, however confirmation is also required from the rock chip geochemical analysis.\nThe full text of the Macarthur Minerals news release is shown below and the full release is available at: \nhttp://web.tmxmoney.com/article.php?newsid=86994325&qm_symbol=MMS\n \n \nQualified Person\nKiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.\n \nFor further information, please contact: \nRare Earth Minerals plc  ...