Rainbow is focused on generating significant value from the extraction of high grade, high quality Rare Earth Oxides (REOs) at its Gakara Project and in turn, being a significant contributor to Burundi’s developing mining sector. With in-situ grades in the range of 47-67% Total Rare Earth Oxide (TREO), Gakara is one of the world’s richest rare earth deposits.
Rainbow has a 10-year distribution and offtake agreement for exclusive sales of at least 5,000 tonnes per annum of concentrate with thyssenkrupp Raw Materials, an active worldwide metals trader with offices in key markets including Europe, North America, South America and Asia.
With a focus on achieving sustainable, long-term production from the Gakara Project, the Company’s development strategy is to:
Guernsey, Channel Islands.
George Bennett, Chief Executive Officer
With over 25 years’ experience in mining, finance and management, George has led a number of mining and energy companies, including Shanta Gold Ltd (which he successfully listed on the London Stock Exchange in 2005), OreCorp Ltd, Argentum (Pty) Energy, and most recently Karo Power (Pvt) Ltd.
In 2006, George established MDM Engineering Ltd, which he successfully listed on the London Stock Exchange in 2008. MDM Engineering Ltd is a mining engineering company building mineral process plants and mining infrastructure throughout Africa. In 2014, George was instrumental in selling the business to Foster Wheeler Limited for US$120 million.
In addition, George has been a partner and director with a number of leading financial, broking and advisory businesses including Fergusson Bros, Simpson Mckie, and HSBC Securities Africa (Pty) Ltd.
Adonis Pouroulis, Non-Executive Chairman
Adonis is an entrepreneur whose expertise lies in the discovery, exploration and development of natural resources across Africa. Having worked in the sector for over 25 years he has extensive experience and a wide network of industry relationships across the continent. Adonis is founder and chairman of Petra Diamonds (LSE: PDL), founder and director of Chariot Oil & Gas (AIM: CHAR) and founder and chairman of the Pella Resources Group. Adonis holds a Bachelor of Science Degree (Honours).
Shawn McCormick, Non-Executive Director
Shawn is an International Affairs specialist with more than 20 years’ political and extractive industries sector experience having served in The White House as Director for African Affairs on the National Security Council (Washington), Political Affairs Director of BP (London) and Vice President of TNK-BP (Moscow). He is currently Managing Director of Connaught Strategies Ltd and an adviser to the Pella Resources Group.
Robert Sinclair, Non-Executive Director
Robert has over 48 years’ experience in finance and accountancy of which 38 years have been spent in the Guernsey financial services industry. He is a director and chairman of the Audit Committee of Chariot Oil & Gas Limited, a fellow of the Institute of Chartered Accountants in England & Wales, and a member of the Institute of Chartered Accountants of Scotland. Robert is a resident of Guernsey.
Alexander Lowrie, Non-Executive Director
Alex is the co-founder of Telemark Capital LLP, a partnership focusing on capital advisory and asset management. Through its consulting subsidiary, Gunnerside Advisors, Alex is also involved in providing governance services as an independent investment committee member to a variety of advisory panels. Prior to this Alex worked for 13 years in investment banking. He was a director at Deutsche Bank and then RBS from 2004 to 2012, having started his banking career in 1998 at ABN AMRO. Through these positions, he has gained extensive market experience in primary and secondary equity offerings including bringing companies to market through IPOs (including structuring, marketing and distribution). Alex graduated from Durham University with a BA (hons) in Combined Social Sciences, and he is also in the process of completing an executive MBA from Henley Business School.
Atul Bali, Non-Executive Director
Is a corporate CEO with extensive experience in tech, government contracting and regulated industries operating on all six continents. Over more than 20 years he has led more than 50 M&A and JV transactions in more than 25 countries and both managed and served on the boards of several highly regulated businesses. Currently he serves as a consultant to several technology companies and as Chairman of Meridian Gaming, regulated and operating in more than 30 countries, with a large footprint in Africa, Central and South America and Central and Eastern Europe. He has previously held divisional CEO or President positions with IGT (NYSE), Aristocrat (ASX), and Real Networks (NASDAQ), as well as a venture capital firm. He previously trained as a Chartered Accountant with KPMG in the UK.
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