Rainbow Rare Earths (GB:RBW) has released an update.
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Rainbow Rare Earths Limited has secured a significant investment of US$10 million through a royalty agreement and share placement with Ecora Resources PLC, aimed at advancing its Phalaborwa project in South Africa. The deal, which is less dilutive than typical equity funding, will finance the completion of the Definitive Feasibility Study and support the company’s financial needs until June 2025. The investment underscores Phalaborwa’s potential as a high-margin rare earths project, essential for the green energy sector.
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