0000919574-12-001226.txt : 20120214 0000919574-12-001226.hdr.sgml : 20120214 20120214110538 ACCESSION NUMBER: 0000919574-12-001226 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Texas Rare Earth Resources Corp. CENTRAL INDEX KEY: 0001445942 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 870294969 STATE OF INCORPORATION: NV FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86282 FILM NUMBER: 12604260 BUSINESS ADDRESS: STREET 1: 304 INVERNESS WAY SOUTH STREET 2: SUITE 365 CITY: ENGLEWOOD STATE: CO ZIP: 80112 BUSINESS PHONE: 303-597-8737 MAIL ADDRESS: STREET 1: 304 INVERNESS WAY SOUTH STREET 2: SUITE 365 CITY: ENGLEWOOD STATE: CO ZIP: 80112 FORMER COMPANY: FORMER CONFORMED NAME: Standard Silver Corp. DATE OF NAME CHANGE: 20080924 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LIBRA ADVISORS LLC CENTRAL INDEX KEY: 0001005557 IRS NUMBER: 133561953 STATE OF INCORPORATION: NY FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 777 THIRD AVENUE STREET 2: 27TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 212-350-5125 MAIL ADDRESS: STREET 1: 777 THIRD AVENUE STREET 2: 27TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: LIBRA ADVISORS INC DATE OF NAME CHANGE: 19960103 SC 13G/A 1 d1264344_13g-a.htm d1264344_13g-a.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No.1)


Texas Rare Earth Resources Corp.
(Name of Issuer)


Common Stock, par value $0.01
(Title of Class of Securities)


882672108
(CUSIP Number)


December 31, 2011
(Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
[_]  Rule 13d-1(b)

[X]  Rule 13d-1(c)

[_]  Rule 13d-1(d)

 
 
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 

 
 
 

CUSIP No
882672108
    
     
1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Libra Advisors, LLC
  
     
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
   
(a)  [_]
   
(b)  [X]
     
3.
SEC USE ONLY
  
     
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
New York
  
     
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
5.
SOLE VOTING POWER
  
     
 
0
  
     
6.
SHARED VOTING POWER
  
     
 
4,000,000
  
     
7.
SOLE DISPOSITIVE POWER
  
     
 
0
  
     
8.
SHARED DISPOSITIVE POWER
  
     
 
4,000,000
  
     
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
 
4,000,000
  
     
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
 
  EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
     
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  
     
 
11.6%
  
     
12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
  
     
 
OO
  

 
 
 

CUSIP No
882672108
    
     
1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Libra Associates, LLC
  
     
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
   
(a)  [_]
    (b)  [X]
     
3.
SEC USE ONLY
  
     
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Delaware
  
     
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
5.
SOLE VOTING POWER
  
     
 
0
  
     
6.
SHARED VOTING POWER
  
     
 
4,000,000
  
     
7.
SOLE DISPOSITIVE POWER
  
     
 
0
  
     
8.
SHARED DISPOSITIVE POWER
  
     
 
4,000,000
  
     
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
 
4,000,000
  
     
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
 
  EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
     
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  
     
 
11.6%
  
     
12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
  
     
 
OO
  

 
 
 

CUSIP No
882672108
    
     
1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Libra Fund, L.P.
  
     
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
   
(a)  [_]
   
(b)  [X]
     
3.
SEC USE ONLY
  
     
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Delaware
  
     
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
5.
SOLE VOTING POWER
  
     
 
0
  
     
6.
SHARED VOTING POWER
  
     
 
3,560,000
  
     
7.
SOLE DISPOSITIVE POWER
  
     
 
0
  
     
8.
SHARED DISPOSITIVE POWER
  
     
 
3,560,000
  
     
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
 
3,560,000
  
     
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
 
  EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
     
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  
     
 
10.3%
  
     
12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
  
     
 
PN
  

 
 
 

CUSIP No
882672108
    
     
1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Ranjan Tandon
  
     
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
   
(a)  [_]
   
(b)  [X]
     
3.
SEC USE ONLY
  
     
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
United States of America
  
     
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
5.
SOLE VOTING POWER
  
     
 
0
  
     
6.
SHARED VOTING POWER
  
     
 
4,000,000
  
     
7.
SOLE DISPOSITIVE POWER
  
     
 
0
  
     
8.
SHARED DISPOSITIVE POWER
  
     
 
4,000,000
  
     
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
 
4,000,000
  
     
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
 
  EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
     
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  
     
 
11.6%
  
     
12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
  
     
 
IN
  

 
 
 
 
CUSIP No
882672108
    
 
Item 1.
(a).
Name of Issuer:
  
       
   
Texas Rare Earth Resources Corp.
  

 
(b).
Address of issuer's principal executive offices:
  
       
   
3 Riverway
Suite 1800
Houston, Texas 77056
  
 
 
Item 2.
(a)-(c).
Name of person filing, principal business address and citizenship:
  
       
   
Libra Advisors, LLC
777 Third Avenue
27th Floor
New York, New York 10017
New York limited liability company
 
Libra Associates, LLC
777 Third Avenue
27th Floor
New York, New York 10017
Delaware limited liability company
 
Libra Fund, L.P.
777 Third Avenue
27th Floor
New York, New York 10017
Delaware limited partnership
 
Ranjan Tandon, Managing Member of Libra Advisors, LLC
777 Third Avenue
27th Floor
New York, New York 10017
United States of America
  

 
(d).
Title of class of securities:
  
       
   
Common Stock, par value $0.01
  

 
(e).
CUSIP No.:
  
       
   
882672108
  
 
 
Item 3.
  
If This Statement is filed pursuant to §§.240.13d-1(b) or 240.13d-2(b), or (c), check whether the person filing is a

 
(a)
[_]
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

 
(b)
[_]
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

 
(c)
[_]
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

 
(d)
[_]
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

 
(e)
[_]
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

 
(f)
[_]
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
 
 
 
 
 
 
(g)
[_]
A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
 
 
(h)
[_]
A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.1813);
 
 
(i)
[_]
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

 
(j)
[_]
A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);

 
(k)
[_]
Group, in accordance with §240.13d-1(b)(1)(ii)(K).  If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:
       

 
Item 4.
Ownership.

 
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 
(a)
Amount beneficially owned:
     
   
4,000,000 shares deemed beneficially owned by Libra Advisors, LLC;
4,000,000 shares deemed beneficially owned by Libra Associates, LLC;
3,560,000 shares deemed beneficially owned by Libra Fund, L.P.;
4,000,000 shares deemed beneficially owned by Ranjan Tandon.

 
(b)
Percent of class:
     
   
11.6% deemed beneficially owned by Libra Advisors, LLC;
11.6% deemed beneficially owned by Libra Associates, LLC;
10.3% deemed beneficially owned by Libra Fund, L.P.;
11.6% deemed beneficially owned by Ranjan Tandon.

 
(c)
Number of shares as to which the person has:

   
(i)
Sole power to vote or to direct the vote
  
,
     
 
Libra Advisors, LLC:  0
Libra Associates, LLC:  0
Libra Fund, L.P.:  0
Ranjan Tandon:  0
 
  
   
(ii)
Shared power to vote or to direct the vote
  
,
     
 
Libra Advisors, LLC:  4,000,000
Libra Associates, LLC:  4,000,000
Libra Fund, L.P.:  3,560,000
Ranjan Tandon:  4,000,000
 
  
   
(iii)
Sole power to dispose or to direct the disposition of
  
,
     
 
Libra Advisors, LLC:  0
Libra Associates, LLC:  0
Libra Fund, L.P.:  0
Ranjan Tandon:  0
 
  
   
(iv)
Shared power to dispose or to direct the disposition of
  
.
     
 
Libra Advisors, LLC:  4,000,000
Libra Associates, LLC:  4,000,000
Libra Fund, L.P.:  3,560,000
Ranjan Tandon:  4,000,000
  

 
 
 
 
Item 5.
Ownership of Five Percent or Less of a Class.

 
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [_].
 
 
N/A
 
 
 
Item 6.
Ownership of More Than Five Percent on Behalf of Another Person.
   
 
The shares reported herein are held in the accounts of two private investment funds (the “Funds”), including Libra Fund, L.P., the investments of which are managed by Libra Advisors, LLC and/or Libra Associates, LLC, each of which Ranjan Tandon is the managing member.
   


Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

 
If a parent holding company or control person has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary.  If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
   
 
N/A
   
 
 
Item 8.
Identification and Classification of Members of the Group.

 
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group.  If a group has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group.
   
 
N/A
   
 
 
Item 9.
Notice of Dissolution of Group.

 
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity.  See Item 5.
   
 
Not applicable
   
 
 
Item 10.
Certification.
   
  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 
 

 
 
 
 


SIGNATURE
 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 

 
February 14, 2012
 
(Date)
   
   
 
/s/ Libra Advisors, LLC*
 
(Signature)
   
 
By:  /s/ Ranjan Tandon
 
(Signature)
 
 
Ranjan Tandon/Managing Member
 
(Name/Title)

 
/s/ Libra Associates, LLC*
 
(Signature)
   
 
By:  /s/ Ranjan Tandon
 
(Signature)
 
 
Ranjan Tandon/Managing Member
 
(Name/Title)
   
 
/s/ Libra Fund, L.P.*
 
(Signature)
   
 
By:  /s/ Ranjan Tandon
 
(Signature)
 
 
Ranjan Tandon/Managing Member of General Partner
 
(Name/Title)
   
 
By:  /s/ Ranjan Tandon*
 
(Signature)
 
Ranjan Tandon
 
(Name/Title)

*    The Reporting Persons disclaim beneficial ownership in the Common Shares, except to the extent of his or its pecuniary interest therein.
 
The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative.  If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference.  The name and any title of each person who signs the statement shall be typed or printed beneath his signature.
 
Note.  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See s.240.13d-7 for other parties for whom copies are to be sent.
 
Attention.  Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).
 
 
 
 
 
Exhibit A


AGREEMENT
 
 
The undersigned agree that this Amendment No. 1 to Schedule 13G dated February 14, 2012 relating to the Common Stock, par value $0.01 of Texas Rare Earth Resources Corp. shall be filed on behalf of the undersigned.


 
/s/ Libra Advisors, LLC
 
(Signature)
   
 
By:  /s/ Ranjan Tandon
 
(Signature)
 
 
Ranjan Tandon/Managing Member
 
(Name/Title)

 
/s/ Libra Associates, LLC
 
(Signature)
   
 
By:  /s/ Ranjan Tandon
 
(Signature)
 
 
Ranjan Tandon/Managing Member
 
(Name/Title)
   
 
/s/ Libra Fund, L.P.
 
(Signature)
   
 
By:  /s/ Ranjan Tandon
 
(Signature)
 
 
Ranjan Tandon/Managing Member of General Partner
 
(Name/Title)
   
 
By:  /s/ Ranjan Tandon
 
(Signature)
 
 
Ranjan Tandon
 
(Name/Title)


 

SK 03784 0001 1264344