REG - Rainbow Rare Earths - Results of Annual General Meeting

Rainbow Rare EarthsAnnouncement

23/11/2022 07:00

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RNS Number : 2705H  Rainbow Rare Earths Limited  23 November 2022

 

23 November 2022

 

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 22 November 2022 at 2.00pm, all resolutions proposed were
duly passed.

 

**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
 Berenberg                       Broker   Matthew Armitt     +44 (0) 20 3207 7800

                                          Jennifer Lee
 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 identify near-term, secondary rare earths production
opportunities. Meeting escalating demand for critical minerals needed for
global decarbonisation, we are focused on producing the magnet rare earth
metals neodymium and praseodymium ("NdPr"), dysprosium and terbium. With our
strong operating experience, proven project development experience, unique
intellectual property and diversified portfolio, Rainbow will develop a
responsible rare earths supply chain to drive the green energy transition.

The Phalaborwa Rare Earths Project, located in South Africa, comprises an
Inferred Mineral Resource Estimate of 30.7Mt at 0.43% TREO contained within
unconsolidated gypsum 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 allows high value
separated rare earth oxides to be produced in a single processing plant at
site with lower operating costs than a typical rare earth mineral project.

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