re: Ann: Rare Earth Investment Acquisition Co...
wow what upside potential we have here - Drilling of M12 Target (Mt Weld Style) to begin early in 2011.
Full ann;
RARE EARTH INVESTMENT ACQUISITION COMPLETE DMN finalises strategic acquisition of Universal Rare Earths Pty Ltd URE enters into JV with Oroya to farm-in to Mt Barrett, Moruya and Pambula projects Drilling of M12 Target (Mt Weld Style) to begin early in 2011 DataMotion Asia Pacific Limited (the Company, ASX code: DMN) is now pleased to announce that it has completed the acquisition of Oroya Mining Limiteds (Oroya, ASX code : ORO) wholly owned subsidiary, Universal Rare Earths Pty Ltd (URE) by issuing 150,000,000 DMN fully paid ordinary shares in satisfaction of UREs obligation to reimburse Oroyas previous expenditure and a cash payment of $1000. Mt Barrett The main target at Mt Barrett is a discrete Bulls Eye intrusive and strongly magnetic M12 anomaly which will be drill tested as a possible Mt Weld- style target with potential for rare earth elements. The Mt Barrett Project is located directly North-East of the Lynas Corporations Mt Weld project. We look forward to providing presentations on the new investment projects.
DMN Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held