Rainbow Rare Earths Ltd 54.8% potential upside indicated by Canaccord Genuity

Rainbow Rare Earths Ltd with ticker (LON:RBW) now has a potential upside of 54.8% according to Canaccord Genuity.



Canaccord Genuity set a target price of 25 GBX for the company, which when compared to the Rainbow Rare Earths Ltd share price of 16 GBX at opening today (19/09/2023) indicates a potential upside of 54.8%. Trading has ranged between 7 (52 week low) and 18 (52 week high) with an average of 1,062,391 shares exchanging hands daily. The market capitalisation at the time of writing is £97,291,562.

Rainbow Rare Earths Limited is a Guernsey-based mining company. The Company is engaged in the development of rare earth mineral projects in South Africa and Burundi. Its projects include Phalaborwa Project and Gakara Project. The Phalaborwa Project is a gypsum stack re-treatment project for the recovery of rare earths located in South Africa. The Phalaborwa Rare Earths Project has an inferred mineral resource estimate of 30.4 metric tons (Mt) at 0.44% TREO contained within phosphogypsum in two unconsolidated stacks derived from historic phosphate hard rock mining. The Gakara Rare Earth Project is located in Western Burundi, approximately 20 kilometers (km) south-southeast of Bujumbura, covering a combined area of approximately 135 square kilometers (km2). The mining permit covers an area of over 39 km2. It hosts various veins consisting of the minerals bastnaesite and/or monazite. Its subsidiaries include Rainbow Mining Burundi, Rainbow International Resources Ltd. and others.