Rainbow Rare Earths Limited Director Shareholding (5846F)
19 Julio 2021 - 01:00AM
UK Regulatory
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.
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END
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