ASX-listed American Rare Earths has struck a share purchase agreement with fellow listed Zenith Minerals over its Laramie rare earths project, in Wyoming.
Under the terms of the agreement, American Rare Earths would acquire Zenith’s wholly owned subsidiary Wyoming Rare for 2.5-million of its own shares, along with A$50 000 in cash, subject to the satisfaction of a number of conditions, including the conversion of exploration permits to mineral leases, which is expected in November.