Appointment of Joint Corporate Broker

RNS Number : 3677S

Rainbow Rare Earths Limited

02 October 2017

 

FOR IMMEDIATE RELEASE

2 October 2017

Rainbow Rare Earths Ltd ('Rainbow' or 'the Company') (LSE: RBW)

Appointment of Joint Corporate Broker

Rainbow, the rare earth element mining company, is pleased to announce the immediate appointment of Arden Partners as joint corporate broker to the Company, acting alongside Hannam & Partners.

For further information, please contact:

Rainbow Rare Earths Ltd	Martin Eales	Tel: [phone]
St Brides Partners Ltd	Lottie Brocklehurst Susie Geliher	Tel: [phone]
Arden Partners plc	William Vandyk Benjamin Cryer	Tel: [phone]
Hannam & Partners (Advisory) LLP	Neil Passmore Ben Newman-Sanders	Tel: [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.  The Company has raised US$8 million to fast-track the fully permitted Gakara Project to production ahead of targeted first sales of concentrate by the end of 2017.  Rainbow has a ten-year distribution and offtake agreement with multinational thyssenkrupp Raw Materials secured for the sale of at least 5,000 tpa 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.

 

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