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Ecora Resources PLC Announces Phalaborwa Rare Earths Project Update

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Ecora Resources (OTCQX:ECRAF) noted Rainbow Rare Earths updated the Phalaborwa Mineral Resource Estimate to include yttrium, a heavy rare earth element subject to Chinese export controls since April 2025. Rainbow currently values neodymium, praseodymium, dysprosium and terbium in its economic models and intends to update the Definitive Feasibility Study to add ancillary metals including yttrium to reflect growing market demand for the full REE basket. Ecora holds a 0.85% gross revenue royalty on Phalaborwa.

The update highlights potential changes to the project value chain and modelling assumptions as Rainbow revises its DFS to include additional REE components.

Ecora Resources (OTCQX:ECRAF) ha osservato che Rainbow Rare Earths ha aggiornato la Stima delle Risorse Minerali di Phalaborwa per includere ittrio, un elemento delle terre rare pesanti soggetto a controlli sulle esportazioni cinesi dall'aprile 2025. Rainbow attualmente valuta neodimio, praseodimio, disprosio e terbio nei propri modelli economici e intende aggiornare lo Studio di Fattibilita Definitivo per aggiungere metalli ausiliari tra cui lo ittrio per riflettere la crescente domanda di mercato per l'intero paniere di REE. Ecora detiene una royalty sul reddito lordo dello 0,85% su Phalaborwa.

L'aggiornamento evidenzia potenziali cambiamenti nella catena del valore del progetto e nelle ipotesi di modellazione mentre Rainbow rivede il suo DFS per includere componenti REE aggiuntivi.

Ecora Resources (OTCQX:ECRAF) señaló que Rainbow Rare Earths actualizó la Estimación de Recursos Minerales de Phalaborwa para incluir itrio, un elemento de tierras raras pesadas sujeto a controles de exportación chinos desde abril de 2025. Rainbow actualmente valora el neodimio, praseodimio, disprosio y terbio en sus modelos económicos y tiene la intención de actualizar el Estudio de Factibilidad Definitivo para añadir metales accesorios, incluido el itrio, para reflejar la creciente demanda del mercado por todo el conjunto de REE. Ecora posee una regalía de ingresos brutos del 0,85% sobre Phalaborwa.

La actualización destaca posibles cambios en la cadena de valor del proyecto y en las suposiciones de modelado a medida que Rainbow revisa su DFS para incluir componentes REE adicionales.

Ecora Resources (OTCQX:ECRAF)가 Rainbow Rare Earths가 Phalaborwa 광상 자원 추정치를 업데이트하여 이트륨을 포함하게 되었으며, 이는 2025년 4월부터 중국의 수출 통제 대상인 중형 희토류 원소입니다. Rainbow는 현재 네오디뮴, 프라세오디뮴, 디스프로슘, 테르비움을 경제 모델에 반영하고 있으며, 전체 REE 바스켓에 대한 수요 증가를 반영하기 위해 이트륨을 포함한 보조 금속을 추가하기 위해 결정 타당성 연구(DFS)를 업데이트할 계획입니다. Ecora는 Phalaborwa에 대해 0.85%의 총매출 로열티를 보유하고 있습니다.

업데이트는 Rainbow가 추가 REE 구성요소를 포함하도록 DFS를 수정하면서 프로젝트 가치사슬 및 모델링 가정에 잠재적 변화가 생길 수 있음을 강조합니다.

Ecora Resources (OTCQX:ECRAF) a indiqué que Rainbow Rare Earths a mis à jour l'Estimation des ressources minérales de Phalaborwa pour inclure l’yttrium, un élément des terres rares lourdes soumis à des contrôles d’exportation chinois depuis avril 2025. Rainbow valorise actuellement le néodyme, le praséodime, le dysprosium et le terbium dans ses modèles économiques et prévoit de mettre à jour l’étude de faisabilité définitive pour ajouter des métaux auxiliaires, y compris l’yttrium, afin de refléter la demande croissante pour le panier REE complet. Ecora détient une redevance brute sur les revenus de 0,85 % sur Phalaborwa.

La mise à jour met en lumière d’éventuels changements dans la chaîne de valeur du projet et dans les hypothèses de modélisation à mesure que Rainbow révise son DFS pour inclure des composants REE supplémentaires.

Ecora Resources (OTCQX:ECRAF) wies darauf hin, dass Rainbow Rare Earths die Phalaborwa-Mineralressourcenschätzung aktualisiert hat, um Yttrium, ein schweres Seltene-Erden-Element, das seit April 2025 chinesischen Exportkontrollen unterliegt, einzubeziehen. Rainbow bewertet derzeit Neodym, Praseodym, Dysprosium und Terbium in seinen wirtschaftlichen Modellen und beabsichtigt, die Definitive Feasibility Study (DFS) zu aktualisieren, um Nebenmetalle einschließlich Yttrium hinzuzufügen, um die wachsende Nachfrage nach dem gesamten REE-Korb widerzuspiegeln. Ecora hält eine Bruttoeinnahmen-Royalty von 0,85% an Phalaborwa.

Das Update hebt potenzielle Änderungen in der Wertschöpfungskette des Projekts und in den Modellannahmen hervor, während Rainbow seine DFS überprüft, um zusätzliche REE-Komponenten einzubeziehen.

Ecora Resources (OTCQX:ECRAF) أشار إلى أن Rainbow Rare Earths قامت بتحديث تقدير الموارد المعدنية في Phalaborwa ليشمل اليتريوم، وهو عنصر من عناصر الأرض النادرة الثقيلة الخاضع للسيطرة على الصادرات الصينية منذ أبريل 2025. تقيم Rainbow حالياً نيوديميوم، برسيوديميوم، dysprosium و-terbium في نماذجها الاقتصادية وتعتزم تحديث دراسة الجدوى النهائية (DFS) لإضافة معادن ثانوية بما في ذلك اليتريوم لعكس الطلب المتزايد على محفظة REE الكاملة. تمتلك EcoraRoyalty بنسبة 0.85% من الإيرادات الإجمالية على Phalaborwa.

يسلط التحديث الضوء على تغييرات محتملة في سلسلة قيمة المشروع والافتراضات النموذجية بينما تراجع Rainbow DFS لإضافة مكونات REE إضافية.

Positive
  • Phalaborwa MRE updated to include yttrium
  • Ecora holds a 0.85% gross revenue royalty on Phalaborwa
  • Rainbow plans to update the Phalaborwa Definitive Feasibility Study to include ancillary REE
Negative
  • Rainbow currently values only Nd, Pr, Dy, Tb in economic models
  • Chinese export controls on yttrium since April 2025 affect supply dynamics

LONDON, UK / ACCESS Newswire / November 10, 2025 / Ecora (LSE:ECOR)(TSX:ECOR)(OTCQX:ECRAF) a critical minerals focused royalty company, notes the press release issued today by Rainbow Rare Earths Limited ("Rainbow") announcing that the Mineral Resource Estimate at Phalaborwa has been updated to include yttrium, one of the heavy rare earth elements ("REE") that has been subject to Chinese export controls since April 2025.

Rainbow currently only includes value for neodymium, praseodymium, dysprosium and terbium in its economic models, but will look to update this to include the ancillary metals for Phalaborwa's Definitive Feasibility Study to reflect the strong and growing market demand for the full range of economic REE in the project's basket.

Ecora holds a 0.85% Gross Revenue Royalty on the Phalaborwa project.

The full announcement from Rainbow can be viewed here: Phalaborwa Resource Update to include Yttrium

For further information

Ecora Resources PLC

+44 (0) 20 3435 7400

Geoff Callow - Head of Investor Relations

Website:

www.ecora-resources.com

FTI Consulting

Sara Powell / Ben Brewerton / Nick Hennis

+44(0) 20 3727 1000

ecoraresources@fticonsulting.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Ecora Resources PLC



View the original press release on ACCESS Newswire

FAQ

What did Ecora announce about Phalaborwa on November 10, 2025 (ECRAF)?

Ecora said Rainbow updated the Phalaborwa MRE to include yttrium and Ecora holds a 0.85% gross revenue royalty.

How does the Phalaborwa MRE change affect Ecora shareholders (ECRAF)?

The MRE now includes yttrium; Rainbow will update its DFS to reflect the broader REE basket, which may affect project valuation models.

Which rare earths does Rainbow currently include in Phalaborwa economic models?

Rainbow currently includes neodymium, praseodymium, dysprosium, and terbium in its economic models.

When did China introduce export controls affecting yttrium mentioned in the update?

April 2025 is cited as the start of Chinese export controls on yttrium.

What royalty interest does Ecora hold on the Phalaborwa project (ECRAF)?

Ecora holds a 0.85% gross revenue royalty on Phalaborwa.

Will Rainbow change its Definitive Feasibility Study for Phalaborwa and why?

Yes; Rainbow intends to update the Phalaborwa DFS to include ancillary metals such as yttrium to reflect growing market demand.
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