16 January 2024
Rainbow Rare Earths Limited
("Rainbow" or "the Company")
LSE: RBW
Appointment of Stifel as Joint Broker
Rainbow Rare Earths is pleased to announce the appointment of Stifel Nicolaus Europe Limited ("Stifel") as joint broker to the Company with immediate effect. Stifel will work alongside Rainbow's incumbent broker, Berenberg, Gossler & Co KG ("Berenberg"), to further broaden the Company's share register and investor access globally as it progresses the Phalaborwa rare earths development project in
George Bennett, CEO of Rainbow, commented: "The appointment of Stifel is a positive step forward in the development of Rainbow, the Phalaborwa project and our project pipeline. Stifel has deep industry experience within the natural resources space, as well as global operations. Their franchise within
For further information, please contact:
Rainbow Rare Earths Ltd |
Company |
George Bennett Pete Gardner |
+27 82 652 8526
|
|
IR |
Cathy Malins |
+44 7876 796 629 |
Berenberg |
Broker |
Matthew Armitt Jennifer Lee
|
+44 (0) 20 3207 7800 |
Stifel
|
Broker |
Ashton Clanfield Varun Talwar
|
+44 20 7710 7600 |
Tavistock Communications |
PR/IR |
Charles Vivian Tara Vivian-Neal |
+44 (0) 20 7920 3150 |
Notes to Editors:
About Rainbow:
Rainbow Rare Earths aims to be a forerunner in the establishment of an independent and ethical supply chain of the rare earth elements that are driving the green energy transition. It is doing this successfully via the identification and development of secondary rare earth deposits that can be brought into production quicker and at a lower cost than traditional hard rock mining projects, with a focus on the permanent magnet rare earth elements neodymium and praseodymium, dysprosium and terbium.
The Company is focused on the development of the Phalaborwa Rare Earths Project in
The Phalaborwa Preliminary Economic Assessment has confirmed strong base line economics for the project, which has a base case NPV10 of US$627 million[1], an average EBITDA operating margin of 75% and a payback period of < two years. Pilot plant operations commenced in 2023, with the project expected to reach commercial production in 2026, just five years after work began on the project by Rainbow.
More information is available at www.rainbowrareearths.com.
[1] Net present value using a 10% forward discount rate
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.