EANS-News: Tantalus Rare Earths AG
Commences Formal Joint Venture Discussions
with China Non-Ferrous Metals ("NFC")and appoints HSBC as Financial Advisor
19.10.2011 – 09:16
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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