23 October 2024
Rainbow Rare Earths
Limited
("Rainbow" or "the Company")
LSE: RBW
Publication of Annual Report
and Notice of Annual General Meeting
Rainbow Rare
Earths announces that that the Annual General
Meeting of Shareholders ("AGM") will be held at 2pm on Thursday 7
November 2024 at its registered office Connaught House, St Julian's
Avenue, St Peter Port, Guernsey GY1 1GZ.
A copy of the Notice of AGM and related forms
of proxy will shortly be available for inspection on the Company's
website at
www.rainbowrareearths.com/investors/shareholder-information/shareholder-documents/
or via the Financial Conduct Authority's National Storage
Mechanism ("NSM") website.
The Company's Annual Report and Accounts for
the year ended 30 June 2024 is on Rainbow's website at
www.rainbowrareearths.com/investors/results-reports-presentations/
as well as on the NSM website.
Please note that, as in prior years, printed
copies of the Annual Report and Accounts will not be available as
Rainbow focuses on a digital approach to investor communications in
line with its environmental commitments.
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 stacks that
occur as the by-product of phosphoric acid production, with the
original source rock for both deposits being a hardrock
carbonatite. Rainbow intends to use a proprietary separation
technique developed by and in conjunction with its partner
K-Technologies, Inc., which simplifies the process of producing
separated rare earth oxides (versus traditional solvent
extraction), leading to cost and environmental benefits.
The Phalaborwa Preliminary Economic
Assessment has confirmed strong base line economics for the
project, which has a base case NPV10 of US$627
million[1], an average
EBITDA operating margin of 75% and a payback period of less than
two years. Pilot plant operations commenced in 2023, with the
project expected to reach commercial production in 2026, just five
years after work began on the project by Rainbow.
More information is available
at www.rainbowrareearths.com.