Last checked at 19 Oct 2017 07:00
FOR IMMEDIATE RELEASE
19 October 2017
Rainbow Rare Earths Ltd ('Rainbow' or 'the Company') (LSE: RBW)
Publication of Annual Report for the year to 30 June 2017 and
Notice of Annual General Meeting
Rainbow Rare Earths Limited ("Rainbow" or the "Company"), the rare earth element mining company operating in East Africa, announces that it has today published its Annual Report and Accounts for the year ended 30 June 2017 on the Company's website at www.rainbowrareearths.com in the Corporate Documents section.
The Annual Report and Accounts will also be mailed to those shareholders who have elected to receive it in hard copy.
The Company also announces that the Annual General Meeting of Shareholders ("AGM") will be held at 12pm on Tuesday 14 November 2017 at its registered office Trafalgar Court, 2nd Floor, East Wing, Admiral Park, St Peter Port, Guernsey GY1 3EL.
A Notice of Meeting for the AGM and related forms of proxy will also be sent to shareholders today.
In compliance with LR9.6.1, a copy of the Notice of AGM will shortly be available for inspection at the Financial Conduct Authority's National Storage Mechanism website http://www.hemscott.com/nsm.do and will also be available on the Company's website at www.rainbowrareearths.com.
For further information, please contact:
Rainbow Rare Earths Ltd | Martin Eales | Tel: +44 (0) 20 3910 4550 |
St Brides Partners Ltd | Lottie Wadham Susie Geliher | Tel: +44 (0) 20 7236 1177 |
Arden Partners plc | William Vandyk Benjamin Cryer | Tel: +44 (0) 20 7614 5900 |
Hannam & Partners (Advisory) LLP | Neil Passmore Ben Newman-Sanders | Tel: +44 (0) 20 7907 8500 |
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.