Rainbow Rare Earths Limited Exercise of Share Options (0538F)
14 Julio 2021 - 1:00AM
UK Regulatory
TIDMRBW
RNS Number : 0538F
Rainbow Rare Earths Limited
14 July 2021
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
14 July 2021
Exercise of Share Options
Rainbow Rare Earths Ltd announces that the Company has allotted
a total of 2,500,000 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 3,718,987
share options with an exercise price of 5.28p per share, which can
be exercised until 24(th) 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 19(th) July
2021.
The Company's enlarged issued share capital will be 478,911,434
Ordinary Shares. The Company has no treasury shares. This figure of
478,911,434 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 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
IOEDXLBFFDLZBBK
(END) Dow Jones Newswires
July 14, 2021 02:00 ET (06:00 GMT)
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024