Basket price
Value of one-unit mass (1kg) of separated rare earths oxides (SREOs), in which these SREOs are in the same average proportion as the contained REO in Rainbow’s concentrate on a 100% basis, i.e. excluding all of the other typical non rare earth material in 1kg of Rainbow’s Rare Earth Concentrate or Ore

Bastnaesite and the phosphate mineral Monazite are the two largest sources of cerium and other rare earth elements

Rock consisting of angular fragments of stones cemented by finer calcareous material

Condition applied to an intensity fractured body of rock

An alkaline, carbonite-rich magmatic rock which is typically the source for rare earth veins

Rainbow agrees prices with its customers which are set at an agreed Discount to the Basket Price in order to reflect the costs of further processing the Rare Earth Concentrate into separated rare earth oxides

Gravity survey
Recording of the specific gravity of rock masses in order to determine their distribution, used by Rainbow in its exploration work to take sub surface readings which may indicate rare earth veins

Laterites are soil types rich in iron and aluminium, formed in hot and wet tropical areas

Monazite is reddish-brown phosphate mineral containing rare earth metals

Hand held XRF analyser

Occurrence of rock or sediment that contains sufficient minerals with economically important elements, typically metals, that can be economically extracted from the deposit

Rare earth concentrate
Concentrated saleable product containing rare earth elements

Rare earth element
A rare earth element (REE) or rare earth metal is one of a set of seventeen chemical elements in the periodic table, specifically the fifteen lanthanides plus scandium and yttrium. Scandium and yttrium are considered rare earth elements because they tend to occur in the same ore deposits as lanthanides and exhibit similar chemical properties. Rare earth elements include Scandium (Sc), Yttrium (Y), Lanthanum (La), Cerium (Ce), Praseodymium (Pr), neodymium (Nd), Promenthium (Pm), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Trebium (Tb), Dysprosium (Dy), Holmium (Ho), Erbium (Er), Thulium (Tm), Ytterbium (Yb) and Lutetium (Lu)

Rare Earth Oxides (REO)
The form in which the final products are priced and sold in the global market

Resources known to be economically feasible for extraction

Mineral resource is a volume of rock enriched in one or more useful materials

Typically a payment to an owner for the ongoing use of an asset or property such as natural resources. Rainbow has agreed a fixed revenue royalty with the Government of Burundi based on its sales revenues

Run of mine (ROM)
Ore that’s mined and ready to go to the processing plant

A stockwork is a complex system of structurally controlled or randomly oriented veins. Stockworks are common in many ore deposit types

Stripping ratio
The amount of waste rock mined relative to the Ore mined

The material or waste left over after the valuable product/commodity has been extracted from ore

A vein is a distinct sheet-like body of crystallised minerals within a rock. Veins form when mineral constituents carried by an aqueous solution within the rock mass are deposited through precipitation. The hydraulic flow involved is usually due to hydrothermal circulation