Rainbow Rare Earths Limited Results of AGM (7530S)
18 Noviembre 2021 - 1:00AM
UK Regulatory
TIDMRBW
RNS Number : 7530S
Rainbow Rare Earths Limited
18 November 2021
FOR IMMEDIATE RELEASE
18 November 2021
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, Trafalgar Court, 2nd Floor East Wing,
Admiral Park, St Peter Port, Guernsey GY1 3EL on 17 November 2021
at 11.00am, all resolutions proposed were duly passed.
**ENDS**
For further information, please contact:
Rainbow Rare Earths
Ltd Company George Bennett +27 82 652 8526
SP Angel Corporate Ewan Leggat +44 (0) 20 3470
Finance LLP Broker Charlie Bouverat 0470
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Notes to Editors:
Rainbow's strategy is to become a globally-significant producer
of rare earth metals. Nd/Pr are vital components of the strongest
permanent magnets used for the motors and turbines driving the
green technology revolution. Analysts are predicting demand for
magnet rare earth oxides will grow substantially over the coming
years, driven by increasing adoption of green technology, pushing
the overall market for Nd/Pr into deficit.
The Phalaborwa Rare Earths Project, located in South Africa,
comprises an Inferred Mineral Resource Estimate of 38.3Mt at 0.43%
total rare earths oxides ("TREO") contained within gypsum tailings
stacked in unconsolidated dumps derived from historic phosphate
hard rock mining. High value Nd/Pr oxide represent 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 contained in the stacks. The rare earths are contained in
chemical form in the gypsum dumps, which is expected to deliver a
higher-value rare earth carbonate, with lower operating costs than
a typical rare earth mineral project.
The Company's Gakara Project in Burundi has produced one of the
highest-grade concentrates in the world (typically 54% TREO)
through trial mining operations. The Gakara basket is weighted
heavily towards Nd/Pr, which account for over approximately 19.5%
of the contained TREO and 85% of the value of the concentrate.
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END
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