Appointment of SP Angel as Joint Broker

RNS Number : 3911U

Rainbow Rare Earths Limited

22 November 2019

 

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

(LSE: RBW)

Appointment of Joint Broker

London, 22 November 2019. Rainbow Rare Earths Ltd, the Rare Earth Element ("REE") mining company, is pleased to be announce that it has appointed SP Angel Corporate Finance LLP as Joint Broker to the Company.

**ENDS**

For further information, please contact

Rainbow Rare Earths Ltd	Company	George Bennett Jim Wynn	[phone] [phone]
SP Angel Corporate Finance LLP	Joint Broker	Ewan Leggat Charlie Bouverat	[phone]
Turner Pope Investments	Joint 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.

 

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