RNS Number : 4184L
Rainbow Rare Earths Limited
07 November 2024
 

 

 

7 November 2024

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

 

Results of Annual General Meeting ("AGM")

Rainbow announces that at the AGM of the Company held at the Company's registered office, Connaught House, St Julian's Avenue, St Peter Port, Guernsey GY1 1GZ on 7 November 2024 at 2.00pm, all resolutions proposed were duly passed.

 

For further information, please contact:

 

Rainbow Rare Earths Ltd

Company

George Bennett

Pete Gardner

+27 82 652 8526

 

 

IR

Cathy Malins

+44 7876 796 629

cathym@rainbowrareearths.com

Berenberg

Broker

Matthew Armitt

Jennifer Lee

 

+44 (0) 20 3207 7800

Stifel

 

Broker

Ashton Clanfield

Varun Talwar    

 

+44 20 7710 7600

Tavistock Communications

PR/IR

Charles Vivian

Tara Vivian-Neal

+44 (0) 20 7920 3150

rainbowrareearths@tavistock.co.uk

 

Notes to Editors:

 

About Rainbow:

Rainbow Rare Earths aims to be a forerunner in the establishment of an independent and ethical supply chain of the rare earth elements that are driving the green energy transition. It is doing this successfully via the identification and development of secondary rare earth deposits that can be brought into production quicker and at a lower cost than traditional hard rock mining projects, with a focus on the permanent magnet rare earth elements neodymium and praseodymium, dysprosium and terbium.

The Company is focused on the development of the Phalaborwa Rare Earths Project in South Africa and the earlier stage Uberaba Project in Brazil. Both projects entail the recovery of rare earths from phosphogypsum that occurs as the by-product of phosphoric acid production, with the original source rock for both deposits being a hardrock carbonatite.

The Phalaborwa Preliminary Economic Assessment has confirmed strong base line economics for the project, which has a base case NPV10 of US$627 million, an average EBITDA operating margin of 75% and a payback period of < two years.

More information is available at www.rainbowrareearths.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
RAGQKOBDPBDDNDK