Appointment of Berenberg as Joint Corporate Broker

RNS Number : 2133B

Rainbow Rare Earths Limited

30 September 2022

 

30 September 2022

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

Appointment of a Joint Corporate Broker

Rainbow Rare Earths is pleased to announce the appointment of Berenberg, Gossler & Co KG ("Berenberg") as its joint broker to act alongside SP Angel Corporate Finance LLP with immediate effect.

For further information, please contact:

Rainbow Rare Earths Ltd	Company	George Bennett Pete Gardner	[phone]
SP Angel Corporate Finance LLP	Broker	Ewan Leggat Charlie Bouverat	[phone]
Berenberg	Broker	Matthew Armitt Jennifer Lee	[phone]
Tavistock Communications	PR/IR	Charles Vivian Tara Vivian-Neal	[phone] [e-mail]

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.

 

END

 

 

APPEADNNAAFAEFA