Information  X 
Enter a valid email address

Rainbow Rare Earths (RBW)

  Print   

Monday 09 August, 2021

Rainbow Rare Earths

Director Dealing

RNS Number : 9244H
Rainbow Rare Earths Limited
09 August 2021
 

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

(LSE: RBW)

9 August 2021

 

 

Director Dealing

The Company was informed that J. Peter Pham, Non-Executive Director, purchased 250,000 ordinary shares of no par value each in the Company ("Ordinary Shares") at a price of 13.5 pence per share on 6 August 2021. 

As a result of this transaction the beneficial ownership of J. Peter Pham in the Ordinary Shares of the Company is as follows:


Total shares held prior to transaction

Total shares held post
 transaction


No

%

No

%

J. Peter Pham

-

-

250,000

0.05%

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

(a) 

Full name of person Dealing

J. Peter Pham

2. 

Reason for notification

(a) 

Position/status

Non-Executive Director

(b) 

Initial notification/ Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a) 

Name of entity

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 financial instrument, type of instrument

Ordinary Shares of no par value each

(b) 

Identification code

GG00BD59ZW98

(c) 

Nature of the transaction

Purchase of Ordinary Shares

(d) 

Price(s) and volume(s)

Prices(s)

Volume(s)

13.5p

250,000

 

(e) 

Aggregated information:

- Aggregated volume

- Price

 

N/A  single transaction

(f) 

Date of transaction

6 August 2021

(g) 

Place of transaction

London Stock Exchange

 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information, please contact

Rainbow Rare Earths Ltd

Company

George Bennett

Pete Gardner

+27 82 652 8526

 

SP Angel Corporate Finance LLP

Broker

Ewan Leggat

Charlie Bouverat

+44 (0) 20 3470 0470

Flagstaff Strategic and Investor Communications


Tim Thompson

Fergus Mellon

+44 (0) 207 129 1474

[email protected]

 

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 [email protected] 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
 
 
DSHLDLFBFVLZBBL

a d v e r t i s e m e n t