Rainbow Rare Earths Limited Director/PDMR Shareholding (8494A)
26 Mayo 2023 - 7:15AM
UK Regulatory
TIDMRBW
RNS Number : 8494A
Rainbow Rare Earths Limited
26 May 2023
26 May 2023
Rainbow Rare Earths Limited
("Rainbow" or "the Company")
LSE: RBW
Director/PDMR Shareholding
Rainbow Rare Earths Ltd announces that Adonis Pouroulis, a
Director and Person Discharging Managerial Responsibility ('PDMR')
of the Company, has effected a share transaction, the purpose of
which is to register shares beneficially held on behalf of Adonis
Pouroulis to Sanlam Private Wealth.
The net effect of this transaction leaves the overall beneficial
holding of Adonis Pouroulis in the shares of the Company
unchanged.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Adonis Pouroulis
-------------------------- --------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------
a) Position/status Director
-------------------------- --------------------------------------------
b) Initial notification/ Initial Notification
Amendment
-------------------------- --------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Rainbow Rare Earths Limited
-------------------------- --------------------------------------------
b) LEI 213800HONYSAXTG6KS11
-------------------------- --------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value
financial instrument,
type of instrument
Identification code GG00BD59ZW98
-------------------------- --------------------------------------------
b) Nature of the transaction Transfer of ordinary shares of no par
value to Sanlam Private Wealth. The
shares remain beneficially owned on
behalf of Adonis Pouroulis.
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.0925 6,637,979 - Disposed by
Westward Investments Limited
GBP0.0925 1,125,653 - Disposed by
Pella Ventures Limited
GBP0.0925 7,763,632 - Purchased by
Sanlam Private Wealth
------------------------------
-------------------------- --------------------------------------------
d) Aggregated information
Aggregated volume 15,527,264
* Price GBP1,436,271.90
-------------------------- --------------------------------------------
e) Date of the transaction 15 May 2023
-------------------------- --------------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------- --------------------------------------------
**ENDS**
For further information, please contact:
Rainbow Rare Earths
Ltd Company George Bennett +27 82 652 8526
Pete Gardner
Cathy Malins
(IR) +44 7876 796 629
cathym@rainbowrareearths.com
Berenberg Broker Matthew Armitt +44 20 3207 7800
Jennifer Lee
Tavistock Communications PR/IR Charles Vivian +44 (0) 20 7920 3150
Tara Vivian-Neal rainbowrareearths@tavistock.co.uk
Notes to Editors:
Rainbow Rare Earths aims to be a forerunner in the establishment
of an independent and ethical supply chain of the rare earth
elements that are driving the green energy transition. It is doing
this successfully via the identification and development of
secondary rare earth deposits that can be brought into production
quicker and at a lower cost than traditional hard rock mining
projects, with a focus on the magnet rare earth elements neodymium
and praseodymium ("NdPr"), dysprosium and terbium.
The Phalaborwa Rare Earths Project, located in South Africa,
comprises a total Mineral Resource Estimate of 30.4 Mt at 0.44%
TREO contained within unconsolidated gypsum stacks derived from
historic phosphate hard rock mining. High value NdPr oxide
represents 29.0% 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. Rainbow will use a
proprietary separation technique developed by its partner
K-Technologies, Inc. for the plant at Phalaborwa, which simplifies
the process of producing separated rare earth oxides (versus
traditional solvent extraction), leading to cost benefits, as well
as being more environmentally friendly.
The Phalaborwa Preliminary Economic Assessment has confirmed
strong base line economics for the project, which has a base case
NPV(10) of US$627 million[1], an average EBITDA operating margin of
75% and a payback period of < two years. Pilot plant operations
will commence in 2023, with the project expected to reach
commercial production in 2026, just five years after work began on
the project by Rainbow.
[1] Net present value using a 10% forward discount rate
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
DSHLQLFLXELFBBZ
(END) Dow Jones Newswires
May 26, 2023 08:15 ET (12:15 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
