Business
Yangibana Update and Change of Name
Yangibana Update and Change of Name.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9289Z Rare Earth Minerals PLC 20 March 2017 \n\nRare Earth Minerals Plc.\n \n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nYangibana Update\n \nand\n \nChange of Name\n \nRare Earth Minerals Plc (AIM/ISDX: REM; OTC: REMMY)) is pleased to report that Hastings Technology Metals Limited (\"Hastings\"), REM's 70% joint venture partner in the Yangibana Neodymium Project (\"Yangibana\") in Western Australia, has announced that beneficiation piloting has successfully been completed. The full Hastings news release is available at: https://gallery.mailchimp.com/6cc38f730035ae0a04d99359c/files/3419b2ef-f041-4cec-8ec0-95e600e14b96/HAS_20170316_Beneficiation_Piloting_FINAL2.pdf .\n \nHighlights\n· Beneficiation continuous pilot plant testing has successfully validated the simple and effective flowsheet of Yangibana flotation process\n· The pilot operation confirmed 70% TREO recovery at a final concentrate grade of 23% TREO.\n· Ongoing improvement through optimised flotation circuit chemistry to further improve recovery to >80% at a higher TREO grade.\n· Clear indication of progress from bench scale to commercial production.\n· Successfully generated bulk samples for downstream engineering equipment design testwork\n· Generated concentrate for next stage Hydrometallurgy pilot plant operation scheduled in March\nDetails of Ownership\n On 1 December 2011, REM announced that it had acquired a 30% free carried interest to Bankable Feasibility Study (\"BFS\") of the Yangibana North Rare Earth Deposit. The exploration costs until the commencement of the BFS are therefore borne solely by Hastings Rare Metals Limited (70% owners and operator). The same terms agreed and announced on 1 December 2012 also apply to Gossan, Hook, Kanes Gossan, Lions Ear and Bald Hill North.\n \nChange of Name\nREM is in the process of changing its name to reflect it diversified holdings in the strategic technology materials sector. It is anticipated that this process will be complete by Monday 27 March 2017 at which point REM will become Cadence Minerals plc with the revised AIM ticker KDNC. A further announcement re...