Company
LON:RBW
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 and other advanced future-facing technologies. The company is doing this successfully via pioneering the first commercial recovery of rare earth elements from phosphogypsum that occurs as the by-product of phosphoric acid production. These projects eliminate the cost and risk of mining, meaning that they can be brought into production quicker and at a lower cost than traditional hard rock mining projects.
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It said MSA has increased its estimation of the high-grade rare earth vein tonnages classified by JORC as an Exploration Target from 20,000-80,000 tonnes at the time of Rainbow's IPO in 2017 to 27,000-103,200 tonnes
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Rainbow Rare Earths' shares have by risen around 180% since mid-May as investors sought out opportunities with deposits outside China.
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Trade war rhetoric has lit fires under several share prices
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Rainbow continues to believe in the prospects for the Gakara Project and is confident that investment in new mining machinery and new pits will serve as the foundation for a sustainable and profitable operation
Wesfarmers has put the cat amongst the rare earth pigeons
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In an operations update for the three months to 31 December 2018, Martin Eales said: "We have learned a huge amount about our mining operation from the first full year of production"
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The new money will provide funding flexibility as Rainbow moves into its next phase of development
