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Rainbow Rare Earths (RBW)

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Monday 19 July, 2021

Rainbow Rare Earths

Director Shareholding

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/ Amendment

Initial Notification

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 financial instrument, type of instrument

 

Identification code

Ordinary shares of no par value each

 

 

 

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)

£0.1225

1,328,148 - Disposed by Pella Ventures Limited

£0.1225

1,328,148 - Purchased by Huntress (CI) Nominees Limited

d)

Aggregated information

 

Aggregated volume

 

- Price

 

 

 

2,656,296

 

£325,396.26

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 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.

 

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