Last checked at 14 Nov 2017 13:00
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, 2nd 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: +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.