Rainbow Rare Earths Ltd with ticker (LON:RBW) now has a potential upside of 69.7% according to Berenberg Bank.
Berenberg Bank set a target price of 33 GBX for the company, which when compared to the Rainbow Rare Earths Ltd share price of 10 GBX at opening today (24/11/2022) indicates a potential upside of 69.7%. Trading has ranged between 9 (52 week low) and 19 (52 week high) with an average of 928,130 shares exchanging hands daily. The market capitalisation at the time of writing is £56,136,524.
Rainbow Rare Earths Limited is a Guernsey-based mining company. The Company is principally engaged in the development of rare earth minerals projects in South Africa and Burundi. Its projects include Phalaborwa Project and Gakara Project. 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 38.3 metric tons (Mt) at 0.43% TREO contained within phosphogypsum tailings stacked in unconsolidated dumps derived from historic phosphate hard rock mining. Gakara Project is located in Western Burundi, approximately 20 kilometers south-southeast of Bujumbura, covering a combined area of approximately 135 square kilometers. Its hosts a numerous veins consisting of minerals bastnaesite and/or monazite. The Company’s subsidiaries include Rainbow Mining Burundi, Rainbow International Resources Ltd, Rainbow Burundi SPRL and others.