Rainbow’s focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% TREO) rare earths projects globally and the only African producer.
Production of rare earth concentrates began in Q4 2017 and the Company has a ten-year distribution and offtake agreement with multinational thyssenkrupp Materials Trading 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 deliver over 80% of the concentrate value from around 19% of the rare earth content.
Stuart Brown – President & CEO
Mr. Stuart Brown is the Company’s President and CEO effective July 1, 2018. Mr. Brown has over 25 years of experience in the diamond industry, where he has gained a wealth of experience across all aspects throughout the diamond pipeline from exploration, mine development and operations to the selling and marketing of diamonds. In 2006, after numerous roles within De Beers over a period of 14 years, Mr. Brown was appointed as the De Beers Group Chief Financial Officer. He held that position for over five years, and in 2010 was appointed joint acting CEO to run De Beers’ global activities in addition to his CFO duties. Since September 2013, Mr. Brown has been the CEO of publicly-listed Firestone Diamonds Plc, a diamond producer in Lesotho. Mr. Brown was responsible for securing the funding and building the team that delivered the successful construction and transition to production of Firestone’s Liqhobong diamond mine. Mr. Brown has an enviable track record of leading business transformation to develop lean, agile and high performing organisations. Mr. Brown holds a Bachelor of Accounting Science from the University of South Africa.
What is your rationale for attending 121 Mining Investment?
Meetings with a range of investors and any other interested parties
What recent news would you like to highlight to investors attending?
Announcement of Maiden JORC Resource December 2018
What are your key goals for the next 3, 6 and 12 months?
Follow up on maiden JORC Resource (Dec18) by progressing new mining areas
Steady increases in production
Targeting consistent production over 5,000tpa
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Our key challenge is to increase ore tonnes mined, which we intend to do by opening additional mining areas during 2019.
In a sentence, what do you think makes your company such a compelling investment?
Immediate exposure to production from Africa’s only rare earths mine.