Confirmation of the historical estimate/Capital increase completed
Heidelberg. Seltenerden Storkwitz AG (SES), Chemnitz, announced today that the now available resource estimate according to the Australian JORC standard fully confirms the previous resource estimate from the 1980s. The geometry and the trend of the ore body as well as the rare earths and niobium grades and tonnages were confirmed.
The previously explored and in 2012 drilled part of the Storkwitz deposit (up to 600 meters deep) accounts for an ore volume of 4.4 million tonnes at an average rare earth oxide grade of 0.45 per cent. This corresponds to a metal content of 20,100 tons of rare earth elements (REE). Almost half of this amount is categorized in the “indicated” category, the rest is a classified “inferred”.
Additionally, the JORC report gives an outlook on the extension of the deposit and its geometry at greater, not yet drilled depths. This outlook also matches with the estimates and models of geologists from an earlier stage in the evaluation process. With a very good probability the carbonatitic–magmatic intrusive body of Storkwitz is defined by a continuation of the ore body to a depth of 1,200 meters below surface, which should still not reach the end of the mineralization.
The company also announced that the current capital increase has been successfully completed. 100,118 shares were issued at a price of EUR 7.20 per share. The share capital of SES now amounts to EUR 1,804,518 (1,804,518 shares). Deutsche Rohstoff AG holds 981,600 shares, corresponding to 54.4%.
A detailed report can be found on the website of SES (www.seltenerden-ag.de).
Heidelberg, 31 January 2013