REG - Rainbow Rare Earths - AGM Statement
RNS Number : 0927URainbow Rare Earths Limited20 November 2019FOR 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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