Results of Annual General Meeting

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 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

 

 

RAGBKBBNOBDDBDB