Rainbow’s strategy is to become a globally significant and responsible producer of rare earth metals, with a particular focus on NdPr – the fundamental building blocks for the permanent magnets driving the global green technology transition. With a diversified portfolio together with proven project development ability and the strong operating experience of the management team, the Company is well positioned to take advantage of the demand for rare earth oxides, which analysts predict will grow substantially over the coming years. Rainbow’s primary focus is the Phalaborwa Rare Earths Project, located in South Africa, which comprises an Inferred Mineral Resource Estimate of 38.3 million tonnes at 0.43% TREO contained within gypsum tailings stacked in unconsolidated dumps, derived from historic phosphate hard rock mining. High-value NdPr 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.