Result of AGM

RNS Number : 4726W

Rainbow Rare Earths Limited

14 November 2017

 

FOR IMMEDIATE RELEASE

14 November 2017

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

Result of Annual General Meeting ("AGM")

Rainbow announces that at the AGM of the Company held at the Company's registered office, Trafalgar Court, 2^nd Floor East Wing, Admiral Park, St Peter Port, Guernsey GY1 3EL on 14 November 2017 at 12.00pm, all resolutions proposed were duly passed.

**ENDS**

For further information, please contact:

Rainbow Rare Earths Ltd	Martin Eales	Tel: [phone]
St Brides Partners Ltd	Lottie Wadham 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.

 

END

 

 

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