Appointment of Lead Engineer to PFS on Cinovec

RNS Number : 8547E

Rare Earth Minerals PLC

21 July 2016

 

Rare Earth Minerals Plc

("Rare Earth Minerals", "REM" or "the Company")

Appointment of Lead Engineer to PFS on the Cinovec Lithium - Tin Project

Rare Earth Mineral Plc (AIM: REM; OTC: REMMY) is pleased to report that European Metals Holdings Limited ("EMH"), in which REM owns a 16.4% shareholding, has appointed Ausenco Services Pty Ltd ("Ausenco") as the Lead Engineer to the Pre Feasibility Study ("PFS") of the Cinovec Lithium/Tin Project in Czech Republic. The full EMH announcement can be found at: http://europeanmet.com/assets/AIM_-_21_July_2016_-_EMH_-_Apointment_of_Lead_Engineer.pdf

The PFS, which is expected to be completed early in 2017, will build on the Company's positive Scoping Study that was released last year and will target an initial production rate of 20,000 tpa of lithium carbonate with associated tin, tungsten and sulphate of potash credits. The PFS will pave the way for a Definitive Feasibility Study in 2017.

Ausenco is a multinational engineering procurement, construction management, and operations service provider to the resources sector. They have significant recent relevant experience having completed an updated Feasibility Study for Talison Lithium's lithium carbonate plant in Australia and the PFS for Bacanora Minerals' Sonora Lithium Project in Mexico. They are the process engineers for Sonora's current Feasibility Study.

Kiran Morzaria, Chief Executive of REM, commented:

"Ausenco's recent experience in the lithium sector and project development will complement the internal team as they develop the Cinovec project. We look forward to the ongoing updates as this strategic asset continues to move forward.

Qualified Person:

Kiran 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).

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For further information, please contact: 

Rare Earth Minerals plc

Andrew Suckling                                                                                                                                                       [phone]

Kiran Morzaria                                                                                                                                                      [phone]

WH Ireland Limited (NOMAD & Broker)                                                                                                   [phone]

James Joyce

James Bavister

Square1 Consulting                                                                                                                                            [phone]

David Bick

Brain Alexander

 

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