Results of AGM

RNS Number : 9010F

Rainbow Rare Earths Limited

31 October 2018

 

FOR IMMEDIATE RELEASE

31 October 2018

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 31 October 2018 at 12.00pm, all resolutions proposed were duly passed.

For further information, please contact:

Rainbow Rare Earths Ltd	Martin Eales	Tel: [phone]
St Brides Partners Ltd	Lottie Wadham Priit Piip	Tel: [phone]
Arden Partners plc	Paul Shackleton Benjamin Cryer	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 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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