Rainbow Rare Earths Limited Director Dealing (9244H)
09 August 2021 - 04:00PM
UK Regulatory
TIDMRBW
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 Total shares held post
to transaction transaction
No % No %
---------------- ---------- -------------- ---------
J. Peter Pham - - 250,000 0.05%
---------------- ---------- -------------- ---------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name J. Peter Pham
of person
Dealing
-------------------------- -------------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status Non-Executive Director
-------------------------- -------------------------------------------
(b) Initial notification/ Initial notification
Amendment
-------------------------- -------------------------------------------
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 Ordinary Shares of no par value each
of the financial
instrument,
type of instrument
-------------------------- -------------------------------------------
(b) Identification GG00BD59ZW98
code
-------------------------- -------------------------------------------
(c) Nature of Purchase of Ordinary Shares
the transaction
-------------------------- -------------------------------------------
(d) Price(s) Prices(s) Volume(s)
and volume(s) 13.5p 250,000
----------
-------------------------- -------------------------------------------
(e) Aggregated
information: N/A single transaction
- Aggregated
volume
- Price
-------------------------- -------------------------------------------
(f) Date of transaction 6 August 2021
-------------------------- -------------------------------------------
(g) Place of London Stock Exchange
transaction
-------------------------- -------------------------------------------
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 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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