REG - Rainbow Rare Earths - Director/PDMR Shareholding

Rainbow Rare EarthsAnnouncement

01/11/2022 07:17

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RNS Number : 8084E  Rainbow Rare Earths Limited  01 November 2022

1 November 2022

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

 

Director/PDMR Shareholding

 

Rainbow Rare Earths Ltd announces that George Bennett, a Director and Person
Discharging Managerial Responsibility ('PDMR') of the Company, has purchased
435,000 ordinary shares of the Company.

 

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                                                         George Bennett
 2   Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 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  Ordinary shares of no par value

     Identification code

                                                                  GG00BD59ZW98
 b)  Nature of the transaction                                    Purchase of ordinary shares of no par value by Pipestone Capital Ltd,

                                                            beneficially owned by George Bennett.

 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                            £0.099    435,000

 d)  Aggregated information

                                                                  N/A - single transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      31 October 2022

 f)  Place of the transaction                                     London Stock Exchange

d)

Aggregated information

 

-      Aggregated volume

-      Price

 

 

N/A - single transaction

e)

Date of the transaction

 

31 October 2022

 

f)

Place of the transaction

London Stock Exchange

 

**ENDS**

For further information, please contact:

 

 Rainbow Rare Earths Ltd         Company  George Bennett     +27 82 652 8526

                                          Pete Gardner
 SP Angel Corporate Finance LLP  Broker   Ewan Leggat        +44 (0) 20 3470 0470

                                          Charlie Bouverat
 Berenberg                       Broker   Matthew Armitt     +44 (0) 20 3207 7800

                                          Jennifer Lee
 Tavistock Communications        PR/IR    Charles Vivian     +44 (0) 20 7920 3150

                                          Tara Vivian-Neal   rainbowrareearths@tavistock.co.uk

 

Notes to Editors:

Rainbow's strategy is to identify near-term, secondary rare earths production
opportunities. Meeting escalating demand for critical minerals needed for
global decarbonisation, we are focused on producing the magnet rare earth
metals neodymium and praseodymium ("NdPr"), dysprosium and terbium. With our
strong operating experience, proven project development experience, unique
intellectual property and diversified portfolio, Rainbow will develop a
responsible rare earths supply chain to drive the green energy transition.

 

The Phalaborwa Rare Earths Project, located in South Africa, comprises an
Inferred Mineral Resource Estimate of 30.7Mt at 0.43% TREO contained within
unconsolidated gypsum stacks derived from historic phosphate hard rock mining.
High value NdPr oxide represents 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 in the stacks. The rare earths are
contained in chemical form in the gypsum stacks, which allows high-value
separated rare earth oxides to be produced in a single processing plant at
site with lower operating costs than a typical rare earth mineral project.

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