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20 Nov 2019 13:06
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 | +27 82 652 8526 +44 (0) 20 3910 4551 |
Turner Pope Investments | Broker | Andy Thacker Zoe Alexander | +44 (0) 20 3657 0050 |
St Brides Partners Ltd
| IR and PR | Priit Piip | +44 (0) 20 7236 1177 |
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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