Last checked at 22 Nov 2019 11:40
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 | +27 82 652 8526 +44 (0) 20 3910 4551 |
SP Angel Corporate Finance LLP | Joint Broker | Ewan Leggat Charlie Bouverat | +44 (0) 20 3470 0470 |
Turner Pope Investments | Joint 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.