Rainbow Rare Earths Limited (OTCMKTS:RBWRF – Get Free Report) dropped 0.2% during trading on Thursday. The stock traded as low as $0.2664 and last traded at $0.2664. Approximately 5,000 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 12,415 shares. The stock had previously closed at $0.2669.
Rainbow Rare Earths Price Performance
The firm’s 50 day simple moving average is $0.34 and its 200 day simple moving average is $0.33.
Rainbow Rare Earths Company Profile
Rainbow Rare Earths Ltd. is a mineral resources company focused on the exploration, development and recovery of rare earth elements. Its principal project is the Phalaborwa Rare Earths Project in South Africa, which is designed to extract rare earths from phosphogypsum stacks, a byproduct of historical phosphate production.
The Phalaborwa project is focused particularly on producing separated neodymium and praseodymium, commonly known as NdPr. These magnet rare earth elements are used in permanent magnets for applications including electric vehicles, wind turbines, industrial motors and other advanced technologies.
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