Rainbow Rare Earths Limited Exercise of Share Options (7843J)
29 Abril 2022 - 1:01AM
UK Regulatory
TIDMRBW
RNS Number : 7843J
Rainbow Rare Earths Limited
29 April 2022
29 April 2022
Rainbow Rare Earths Limited
("Rainbow" or "the Company")
LSE: RBW
Exercise of Share Options
Rainbow Rare Earths announces that the Company has allotted a
total of 1,718,987 new ordinary shares of no par value ('Ordinary
Shares') at a price of 5.28p per share to the Australian Special
Opportunity Fund, LP on receipt by the Company of a valid
notification to exercise share options. Following this exercise,
the Australian Special Opportunity Fund, LP holds a further
2,000,000 share options with an exercise price of 5.28p per share,
which can be exercised until 24 January 2023.
The new Ordinary Shares rank pari passu with the Company's
existing issued Ordinary Shares and application has been made for
the Ordinary Shares to be admitted to the Main Market of the London
Stock Exchange. Dealings are expected to commence on 5 May
2022.
The Company's enlarged issued share capital will be 524,405,810
Ordinary Shares. The Company has no treasury shares. This figure of
524,405,810 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
**ENDS**
For further information, please contact:
Rainbow Rare Earths George Bennett
Ltd Company Pete Gardner +27 82 652 8526
SP Angel Corporate Ewan Leggat
Finance LLP Broker Charlie Bouverat +44 (0) 20 3470 0470
Tavistock Communications PR/IR Charles Vivian +44 (0) 20 7920 3150
Tara Vivian-Neal rainbowrareearths@tavistock.co.uk
Notes to Editors:
Rainbow's strategy is to become a globally significant producer
of rare earth metals. Nd/Pr and Dy are vital components of the
strongest permanent magnets used for the motors and turbines
driving the green technology revolution. Analysts are predicting
demand for magnet rare earth oxides will grow substantially over
the coming years, driven by increasing adoption of green
technology, pushing the overall market for Nd/Pr and Dy into
deficit.
The Phalaborwa Rare Earths Project, located in South Africa,
comprises an Inferred Mineral Resource Estimate of 38.3Mt at 0.43%
TREO contained within gypsum tailings stacked in unconsolidated
stacks derived from historic phosphate hard rock mining. High value
NdPr oxide represents 29.1% of the total contained rare earth
oxides, with economic Dysprosium and Terbium oxide credits
enhancing the overall value of the rare earth basket in the stacks.
The rare earths are contained in chemical form in the gypsum
stacks, which is expected to allow high-value separated rare earth
oxides to be produced with lower operating costs than a typical
rare earth mineral project.
The Company's Gakara Project in Burundi has produced one of the
highest-grade rare earth concentrates in the world (typically 54%
total rare earths oxides ("TREO")) through trial mining operations.
The Gakara basket is weighted heavily towards Nd/Pr, which account
for approximately 19.5% of the contained TREO and 85% of the value
of the concentrate. The Gakara project is currently on care and
maintenance at the request of the Government of Burundi.
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEFLFVASDITFIF
(END) Dow Jones Newswires
April 29, 2022 02:01 ET (06:01 GMT)
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De May 2023 a May 2024