REG - Rainbow Rare Earths - Changes to Secretary, Registered Agent & Office

Rainbow Rare EarthsAnnouncement

01/04/2022 12:15

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RNS Number : 9822G  Rainbow Rare Earths Limited  01 April 2022

 

 

1 April 2022

 

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

 

Changes to Company Secretary, Registered Agent and Office

 

Rainbow Rare Earths announces that it has appointed Scorpio Secretarial
Services Limited as Company Secretary and that its registered agent in
Guernsey will change to Invicta Wealth Solutions Limited, both with immediate
effect.

 

The registered office of the Company has also changed with immediate effect to
Connaught House, St Julian's Avenue, St. Peter Port, Guernsey, GY1 1GZ.

 

**ENDS**

 

For further information, please contact:

 

 Rainbow Rare Earths Ltd         Company  George Bennett     +27 82 652 8526

                                          Pete Gardner
 SP Angel Corporate Finance LLP  Broker   Ewan Leggat        +44 (0) 20 3470 0470

                                          Charlie Bouverat
 Tavistock Communications        PR/IR    Charles Vivian     +44 (0) 20 7920 3150

                                          Tara Vivian-Neal   rainbowrareearths@tavistock.co.uk (mailto:rainbowrareearths@tavistock.co.uk)

 

Notes to Editors:

Rainbow's strategy is to become a globally significant producer of rare earth
metals. Nd/Pr and Dy are vital components of the strongest permanent magnets
used for the motors and turbines driving the green technology revolution.
Analysts are predicting demand for magnet rare earth oxides will grow
substantially over the coming years, driven by increasing adoption of green
technology, pushing the overall market for Nd/Pr and Dy into deficit.

 

The Phalaborwa Rare Earths Project, located in South Africa, comprises an
Inferred Mineral Resource Estimate of 38.3Mt at 0.43% TREO contained within
gypsum tailings stacked in unconsolidated stacks derived from historic
phosphate hard rock mining. High value NdPr oxide represents 29.1% of the
total contained rare earth oxides, with economic Dysprosium and Terbium oxide
credits enhancing the overall value of the rare earth basket in the stacks.
The rare earths are contained in chemical form in the gypsum stacks, which is
expected to allow high-value separated rare earth oxides to be produced with
lower operating costs than a typical rare earth mineral project.

 

The Company's Gakara Project in Burundi has produced one of the highest-grade
rare earth concentrates in the world (typically 54% total rare earths oxides
("TREO")) through trial mining operations. The Gakara basket is weighted
heavily towards Nd/Pr, which account for approximately 19.5% of the contained
TREO and 85% of the value of the concentrate. The Gakara project is currently
on care and maintenance at the request of the Government of Burundi.

 

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