REG - Rainbow Rare Earths - Appointment of SP Angel as Joint Broker

Rainbow Rare EarthsAnnouncement

22/11/2019 11:40

RNS Number : 3911U
Rainbow Rare Earths Limited
22 November 2019
 


 
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.




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