Rareco - SUSPENSION OF TRADING
RARE EARTH EXTRACTION CO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1989/003212/06)
Share Code: RCO ISIN: ZAE000005807
("Rareco" or "the company")
SUSPENSION OF TRADING
Shareholders are referred to the trading update published on 6 August 2003,
wherein Rareco advised that it had suspended production at its feldspar mine
following the cancellation of an order by Consol (Proprietary) Limited
("Consol"). Rareco maintains this order was cancelled without just cause.
Consol, however, refuses to resume purchases from Rareco on the conditions that
had originally been agreed. Rareco would not now supply Consol without a
satisfactory contract, and such a contract is unlikely at this stage.
Rareco is also unable to raise finance and the board of directors is therefore
considering its options in terms of the future of the company and its viability.
Rareco has consequently requested the JSE Securities Exchange South Africa ("the
JSE") to suspend trading in its shares until there is more certainty about the
company"s future. The JSE has agreed to this and trading will be suspended from
commencement of business on Friday, 26 September 2003.
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