Zimtu Capital Corp. announces involvement in Quantum’s acquisition

- May 4th, 2010

Zimtu Capital reports its involvement in Quantum Rare Earth Developments’ acquisition of the Elk Creek Niobium-Rare Earth Element Carbonatite project, Nebraska. Through its Nebraskan subsidiary, Elk Creek Resources Corp., 859404 secured individual agreements to acquire the mineral rights to the Elk Creek Carbonatite Project. The agreements are in the form of a five-year pre-paid lease, with an option … Continued

Zimtu Capital reports its involvement in Quantum Rare Earth Developments’ acquisition of the Elk Creek Niobium-Rare Earth Element Carbonatite project, Nebraska.

Through its Nebraskan subsidiary, Elk Creek Resources Corp., 859404 secured individual agreements to acquire the mineral rights to the Elk Creek Carbonatite Project. The agreements are in the form of a five-year pre-paid lease, with an option to purchase the mineral rights at the end of the lease. The Elk Creek Carbonatite Project was held under a similar type of option agreement by the previous operator Molycorp, Inc. in the 1970’s and 1980’s. Zimtu was instrumental in the organization and management of 859404 from its inception in August, 2009 to the successful completion of the acquisition of the Elk Creek Carbonatite Project.

David Hodge, President of Zimtu says:

“We are pleased to announce the completion of this transaction with Quantum, the third completed with the company since late 2009. Zimtu has aided and supported the development of Quantum and will be a significant shareholder of the company.” “The Elk Creek Carbonatite Project was highly sought after and took significant focus and effort from our team to acquire. The project has the potential to become a significant global resource of niobium and rare earth elements.”

For complete news release, click here.

For Zimtu Capital company profile, click here.

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