TIDMRBW

RNS Number : 5846F

Rainbow Rare Earths Limited

19 July 2021

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

(LSE: RBW)

19 July 2021

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 by Pella Ventures Limited to Huntress (CI) Nominees Limited.

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

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                        Adonis Pouroulis 
     --------------------------  ---------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------------- 
 a)   Position/status             Director 
     --------------------------  ---------------------------------------------- 
 b)   Initial notification/       Initial Notification 
       Amendment 
     --------------------------  ---------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------- 
 a)   Name                        Rainbow Rare Earths Limited 
     --------------------------  ---------------------------------------------- 
 b)   LEI                         213800HONYSAXTG6KS11 
     --------------------------  ---------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for 
       (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 each 
       financial instrument, 
       type of instrument 
 
       Identification code         GG00BD59ZW98 
     --------------------------  ---------------------------------------------- 
 b)   Nature of the transaction   Transfer of ordinary shares of no par 
                                   value from Pella Ventures Limited to 
                                   Huntress (CI) Nominees Limited . The 
                                   shares remain beneficially owned on 
                                   behalf of Adonis Pouroulis. 
     --------------------------  ---------------------------------------------- 
 c)   Price(s) and volume(s)       Price(s)    Volume(s) 
                                    GBP0.1225   1,328,148 - Disposed by 
                                                 Pella Ventures Limited 
                                    GBP0.1225   1,328,148 - Purchased by 
                                                 Huntress (CI) Nominees Limited 
                                               -------------------------------- 
     --------------------------  ---------------------------------------------- 
 d)   Aggregated information 
 
       Aggregated volume            2,656,296 
 
        *    Price                  GBP325,396.26 
     --------------------------  ---------------------------------------------- 
 e)   Date of the transaction     14 July 2021 
     --------------------------  ---------------------------------------------- 
 f)   Place of the transaction    Outside of a trading venue 
     --------------------------  ---------------------------------------------- 
 

**ENDS**

For further information, please contact

 
 Rainbow Rare                      George Bennett 
  Earths Ltd            Company     Pete Gardner        +27 82 652 8526 
 SP Angel Corporate                Ewan Leggat 
  Finance LLP           Broker      Charlie Bouverat    +44 (0) 20 3470 0470 
                       ---------  -------------------  -------------------------------------- 
 Flagstaff Strategic                Tim Thompson        +44 (0) 207 129 1474 
  and Investor                       Fergus Mellon       rainbowrareearths@flagstaffcomms.com 
  Communications 
                                   ------------------  -------------------------------------- 
 

Notes to Editors:

Rainbow's strategy is to become a globally-significant producer of rare earth metals. NdPr 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 NdPr 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 dumps derived from historic phosphate hard rock mining. High value NdPr oxide represent 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 contained in the stacks. The rare earths are contained in chemical form in the gypsum dumps, which is expected to deliver a higher-value rare earth carbonate, with lower operating costs than a typical rare earth mineral project.

The Company's Gakara Project in Burundi, which produces one of the highest-grade concentrates in the world (typically 54% total rare earths oxides ("TREO")) through ongoing trial mining operations, is currently the only African producer of rare earths. The Gakara basket is weighted heavily towards NdPr, which account for over approximately 19.5% of the contained TREO and 85% of the value of the concentrate.

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

DSHRPMRTMTJBBFB

(END) Dow Jones Newswires

July 19, 2021 02:00 ET (06:00 GMT)

Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Rainbow Rare Earths.
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Rainbow Rare Earths.