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	[phone]
SP Angel Corporate Finance LLP	Broker	Ewan Leggat Charlie Bouverat	[phone]
Flagstaff Strategic and Investor Communications		Tim Thompson Fergus Mellon	[phone] [e-mail]

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.

 

END

 

 

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