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Appointment of SP Angel as Joint Broker

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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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Price: 3.65

Market: LSE
Market Cap: £13.88 m
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Watch

Rainbow Rare Earths CEO talks Kiyenzi drilling results and new Zimbabwe licenses

Rainbow Rare Earths (LON:RBW) CEO George Bennett caught up with Proactive London's Andrew Scott at Mines and Money 2019. RBW's recently acquired 10 mining claims covering a total of 12.6km² secured in northern Zimbabwe. Bennett also updates on recent drilling at Kiyenzi in Burundi.

on 25/11/19