EANS-News: Tantalus Rare Earths AG Commences Formal Joint Venture Discussions
with China Non-Ferrous Metals ("NFC")and appoints HSBC as Financial Advisor
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Company Information/Joint Venture Discussions
Düsseldorf (euro adhoc) - Commences Formal Joint Venture Discussions with China
Non-Ferrous Metals ("NFC")and appoints HSBC as Financial Advisor
(Düsseldorf, 19 October 2011,Tantalus Rare Earths AG) The Directors of Tantalus
Rare Earths AG ("TRE"), a German company exploring an extensive area of
secondary rare earth mineralisation at surface and primary, near-surface bedrock
rare earth ("REE") mineralisation in north-western Madagascar (the "TRE
Project"), are pleased to announce that they have commenced formal Joint Venture
discussions with China Non-Ferrous Metal Industry Foreign Engineering &
Construction Company co. LTD ("NFC") and appoints The Hong Kong and Shanghai
Banking Corporation ("HSBC") as financial advisor to TRE.
SUMMARY
* April 2011 Tantalus Rare Earths AG ("TRE") announce Memorandum of
Understanding with China Non-Ferrous Metals ("NFC") after a meeting in Beijing
hosted by Ernst & Young, China Business Group.
* May 2011 TRE host delegate of NFC on site visit to Madagascar and TRE deliver
near surface samples to NFC in China for test work.
* September 2011 as a result of the test work completed by NFC in China TRE are
invited to return to Beijing to discuss a potential joint venture agreement to
develop the project further.
* October 2011 TRE announces first in-house resource estimate for a small
portion of the total project that confirms similarities to Chinese Rare Earth
"clays" and also the discovery of high grade Rare Earth bearing carbonate.
* October 2011 TRE appoints HSBC as financial advisor on transactions involving
potential strategic partners and investors.
Commenting on the release Ivan Murphy, Executive Director said,
"We are delighted to have entered into a formal discussion with China
Non-Ferrous who are a major global producer of Rare Earths and potentially an
ideal partner for TRE to take our very exciting project into production. In
addition, we are pleased to announce the appointment of HSBC as financial
advisor to the company. We will update the market in due course on the progress
of these discussions."
Notes to Editors
About Tantalus Rare Earths ("TRE")
TRE is a German incorporated holding company whose subsidiaries are engaged in
the exploration and development of rare earths. TRE's shares are quoted on the
Open Market of the Frankfurt Stock Exchange.
TRE's principal asset is an exploration project located in north-western
Madagascar and comprises rare earth-tantalum-niobium-zirconium-hafnium enriched
dykes and sills and Rare Earth Element ("REE") bearing argillaceous laterites
derived from the weathering of underlying alkaline intrusives.
There are numerous indications that most of the alkaline intrusive bodies within
the concession are overlain by REE bearing argillaceous laterites. TRE is
therefore considering the whole area underlain by alkaline intrusives (150 to
170 sq km) as prospective for secondary REE mineralisation in the weathering
crust.
The exploration programme aims to define the primary (vein/skarn hosted) and
secondary (argillaceous laterites) mineralisation present on the concession
towards a NI 43-101 compliant mineral resource estimate and support a detailed
feasibility study towards mine development and production.
China Nonferrous Metal Industry's Foreign Engineering & Construction Co. LTD.
("NFC")
NFC is a leading Chinese company involved in the mining, processing and trading
of non ferrous metals. At its operations in China it is involved in the
processing of rare earth elements utilising its own technology.
Tantalus Rare Earths AG
Berliner Allee 12
40212 Düsseldorf
Deutschland
Telefon: +49 (0)211 52391 430
Telefax: +49 (0)211 52391 200
e-Mail: contact [at] tre-ag.com
Internet: http://www.tre-ag.com
Further inquiry note:
For further information contact:
Ivan Murphy, Executive Director der TRE Tel: +44 (0) 20 3214 9930
Ana Ribeiro Blythe Weigh Communications Tel: +44 (0) 207 138 3206
or +44 (0) 7980 321 505
end of announcement euro adhoc
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company: Tantalus Rare Earths AG
Berliner Allee 12
D-40212 Düsseldorf
phone: +49 (0)211 52391 430
FAX: +49 (0)211 52391 200
mail: contact [at] tre-ag.com
WWW: http://www.tre-ag.com
sector: Holding companies
ISIN: DE000A0SMSL4, DE000A1KRQE7
indexes:
stockmarkets: free trade/entry standard: Frankfurt
language: English