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Rainbow Rare Earths loss widens

04 October 2017 08:31

Losses deepened at Rainbow Rare Earths as it gears up to start mining in East Africa.

The company booked a net loss of $1.4m, widening from a loss in the previous year of $1.2m.

It expects first concentrate sales to commence in the forth quarter of 2017.

Rainbow Rare Earths also provided its first production guidance for the current financial year.

It expects to produce 3,000-4,000 tonnes of ore mined, generating 2,250-3,000 tonnes of mineral concentrate for sale.

At 8:31am: (LON:RBW) Rainbow Rare Earths Limited Ord Npv share price was +0.13p at 11.13p

Story provided by StockMarketWire.com

Related Company: RBW

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