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NY firm touts local rare earth leases

The company maintains that it has also “completed the initial stages” of forming a subsidiary in Romania to “acquire and develop” possible gold, silver and copper mining concessions.
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ROYE describes itself as an “emerging play on oil and gas royalties, potential silver and gold reserves in Romania and potential rare earth metal and uranium properties, which could unlock significant combined value for shareholders.” Its website claims that the company is “currently attempting” to secure financing in Europe for development of its rare earth and precious metal leases, as well as for purchase of energy and mining leases and “other corporate requirements.”

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (30 nov 2011)

These consolidated financial statements include the accounts of Royal Energy Resources, Inc. (“RER”) (formerly known as World Marketing, Inc. („WMI”) and its wholly owned subsidiary S.C. Golden Carpathan Resources S.R.L. („SCGCR”), a Romanian corporation. RER and SCGCR are development stage enterprises within the meaning of Financial Accounting Standards Board Topic 915. All significant intercompany balances and transactions have been eliminated in consolidation. SCGCR has just completed its formation and has not had any operations as of May 31, 2011.
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RER is a Delaware corporation which was incorporated on March 22, 1999, under the name Webmarketing, Inc. („Webmarketing”). On July 7, 2004, the Company revived its charter and changed its name from Webmarketing to World Marketing, Inc. In December 2007 the Company changed its name to Royal Energy Resources, Inc.

The Company is currently pursuing gold, silver, copper and rare earth metals mining concessions in Romania, Bulgaria and Canada and mining leases in the United States. If successful, the Company plans to concentrate its efforts to develop these properties.

On April 1, 2011, the Company, through its CEO completed the initial stages of forming a Romanian subsidiary to be used to acquire and develop possible gold, silver and copper mining concessions in Romania. The subsidiary, S.C. Golden Carpathan Resources S.R.L., will be located in Bucharest, Romania.

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