AGM Statement

RNS Number : 0927U

Rainbow Rare Earths Limited

20 November 2019

 

FOR IMMEDIATE RELEASE

20 November 2019

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

(LSE: RBW)

Results of Annual General Meeting ("AGM")

Rainbow announces that at the AGM of the Company held at the Company's registered office, Trafalgar Court, 2nd Floor East Wing, Admiral Park, St Peter Port, Guernsey GY1 3EL on 20 November 2019 at 11.00am, all resolutions proposed were duly passed.

**ENDS**

For further information, please contact

Rainbow Rare Earths Ltd	Company	George Bennett Jim Wynn	[phone] [phone]
Turner Pope Investments	Broker	Andy Thacker Zoe Alexander	[phone]
St Brides Partners Ltd	IR and PR	Priit Piip	[phone]

Notes to Editors:

Rainbow's focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% Total Rare Earth Oxide) rare earths projects globally and the only African producer.

The Company began production of rare earth concentrates in Q4 2017 and has a ten-year distribution and offtake agreement with multinational ThyssenKrupp Materials Trading secured for the sale of at least 5,000tpa of concentrate produced.

The Gakara basket is weighted heavily towards the magnet rare earths, including neodymium and praseodymium, which are driving demand and account for 70% of annual global REE sales due to their use in vital components in motors, generators, wind turbines, and electric vehicles.

 

END

 

 

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