REG - Rainbow Rare Earths - Result of AGM

Rainbow Rare EarthsAnnouncement

07/11/2024 15:15

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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         +27 82 652 8526

                                    Pete Gardner
                           IR       Cathy Malins           +44 7876 796 629

                                                           cathym@rainbowrareearths.com
 Berenberg                 Broker   Matthew Armitt         +44 (0) 20 3207 7800

                                    Jennifer Lee

 Stifel                    Broker   Ashton Clanfield       +44 20 7710 7600

                                    Varun Talwar

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

                                    Tara Vivian-Neal       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
(http://www.rainbowrareearths.com)

 

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