Rainbow Rare Earths raises £7 52m to fund Phalaborwa to 2024 miningmx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miningmx.com Daily Mail and Mail on Sunday newspapers.
London-listed Rainbow Rare Earths has agreed to issue about 72.45-million shares in the company to raise £7.52-million to further develop its Phalaborwa project, in South Africa. Existing shareholder TechMet contributed £5.54-million, while Pella Ventures – also an existing shareholder – contributed £790 000.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has raised £7.52mln through a private placement of shares at a significant premium to Friday s closing price..