Full Year 2024 Rainbow Rare Earths Ltd Earnings Call Transcript
Key Points
- Rainbow Rare Earths Ltd (RBWRF) achieved the first commercial recovery of rare earth elements from phosphogypsum, a significant milestone in the industry.
- The company has developed a unique flow sheet using proven technologies, which is more environmentally friendly and cost-effective than traditional methods.
- Secured strategic equity funding of $50 million from the US government's DFC, providing strong financial backing and third-party validation.
- Successfully produced two saleable products from their pilot plant, including a separated rare earth oxide with 96-97% purity.
- Entered into strategic partnerships and MOUs with companies like LCM and Mosaic, expanding their market reach and potential for future projects.
- There is a delay in the definitive feasibility study (DFS), pushing the expected production start to 2027.
- The current purity level of rare earth oxides is 96-97%, which may not meet the 99% target, potentially affecting marketability and pricing.
- The company faces challenges in optimizing the flow sheet, requiring additional time and resources to achieve desired purity levels.
- Rainbow Rare Earths Ltd (RBWRF) has not yet decided on patenting their technology, which could expose them to competitive risks.
- The Burundi project remains uncertain due to government-imposed suspensions, limiting its contribution to the company's growth.
Good morning, ladies and gentlemen, and welcome to the Rainbow Rare Earths Limited Investor presentation. Throughout this recorded presentation, investors will be in listen-only mode questions are encouraged. They can be submitted at any time via the Q&A tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send the company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today and we will publish those responses where it is appropriate to do so.
And before we begin, as usual, we would just like to submit the following poll and if you could give that your kind attention, I'm sure the company would be most grateful and I would now like to hand you over to CEO George Bennett, George. Good morning, sir.
Good morning and thanks for having me.
Yeah, once again, this is a presentation on our year end results and progress of
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