Rainbow Rare Earths Limited Publication of ARA and notice of AGM (6489Q)

TIDMRBW

RNS Number : 6489Q

Rainbow Rare Earths Limited

29 October 2021

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

(LSE: RBW)

29 October 2021

Publication of Annual Report and Notice of Annual General Meeting

Rainbow Rare Earths Ltd is pleased to announce that it has today published its Annual Report and Accounts for the year ended 30 June 2021 on the Company's website at www.rainbowrareearths.com.

The Company also announces that the Annual General Meeting of Shareholders ("AGM") will be held at 11am on 17 November 2021 at its registered office Trafalgar Court, 2nd Floor, East Wing, Admiral Park, St Peter Port, Guernsey GY1 3EL.

In light of ongoing COVID-19 travel restrictions and advice, the Board has taken the decision that it will not travel to Guernsey to attend the AGM in person.

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/corporate-documents/ or via the Financial Conduct Authority's National Storage Mechanism website. Please note that, as in the prior year, printed copies of the Annual Report and Accounts will not be available as Rainbow focuses on a more digital approach to investor communications in line with its environmental commitments.

**ENDS**

For further information, please contact

 
 Rainbow Rare                      George Bennett 
  Earths Ltd            Company     Pete Gardner        [phone] 
 SP Angel Corporate                Ewan Leggat 
  Finance LLP           Broker      Charlie Bouverat    [phone] 
                       ---------  -------------------  -------------------------------------- 
 Flagstaff Strategic                Tim Thompson        [phone] 
  and Investor                       Fergus Mellon       [e-mail] 
  Communications 
                                   ------------------  -------------------------------------- 
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACSBCBDGGSDDGBI

(END) Dow Jones Newswires

October 29, 2021 02:00 ET (06:00 GMT)