| Announcement Date: | 2022-10-03 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | (other Code) |
| Company name: | Rainbow Rare Earths Ltd. |
| Project name: | Phalaborwa |
| Location: | South Africa |
| Commodities: | Rare Earth |
| Highlight: | PEA result incl. Post Tax NPV (10%) of USD $627M & IRR of 40% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Rainbow Rare Earths announces the results of the Preliminary Economic Assessment (“PEA”) [1] for the Company’s Phalaborwa Rare Earths Project in South Africa, marking an important milestone in the project’s development. The PEA demonstrates a long life and financially robust opportunity for Phalaborwa to become a significant supplier of high purity rare earth oxides to the rapidly expanding permanent magnet market, to support global decarbonisation and the growing demand for electric vehicles and offshore wind turbines. The PEA was conducted by METC Engineering, the minerals processing engineering company based in Johannesburg, with key contributions from independent consultants as required. Key highlights, an overview, and the executive summary are provided below, with the report available on the Company’s website at www.rainbowrareearths.com/investors/results-reports-presentations/. An investor presentation will be held on 5 October to discuss results of the PEA, see further details below. Rainbow will host a live presentation via the Investor Meet Company platform on Wednesday 5 October 2022 at 10:00am BST to discuss the PEA. The presentation is open to all existing and potential shareholders. Questions can be submitted preevent via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. |
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