REG - Rainbow Rare Earths - Director/PDMR Shareholding

Rainbow Rare EarthsAnnouncement

06/11/2024 07:00

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RNS Number : 0809L  Rainbow Rare Earths Limited  06 November 2024

 

6 November 2024

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

 

Director/PDMR Shareholding

Rainbow Rare Earths Ltd announces that Pete Gardner (CFO), a Person
Discharging Managerial Responsibility ('PDMR') of the Company, has effected a
share transaction, transferring shares previously held into a SIPP and ISA.
The net effect of the transaction is a sale of 112 shares to cover the
transaction costs.

For further information, please contact:

 

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

                                    Pete Gardner
                           IR       Cathy Malins           +44 7876 796 629

                                                           cathym@rainbowrareearths.com (mailto:cathym@rainbowrareearths.com)
 Berenberg                 Broker   Matthew Armitt         +44 (0) 20 3207 7800

                                    Jennifer Lee

 Stifel                    Broker   Ashton Clanfield       +44 20 7710 7600

                                    Varun Talwar

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

                                    Tara Vivian-Neal       rainbowrareearths@tavistock.co.uk (mailto:rainbowrareearths@tavistock.co.uk)

 

Notes to Editors:

 

About Rainbow:

Rainbow Rare Earths aims to be a forerunner in the establishment of an
independent and ethical supply chain of the rare earth elements that are
driving the green energy transition. It is doing this successfully via the
identification and development of secondary rare earth deposits that can be
brought into production quicker and at a lower cost than traditional hard rock
mining projects, with a focus on the permanent magnet rare earth elements
neodymium and praseodymium, dysprosium and terbium.

The Company is focused on the development of the Phalaborwa Rare Earths
Project in South Africa and the earlier stage Uberaba Project in Brazil. Both
projects entail the recovery of rare earths from phosphogypsum that occurs as
the by-product of phosphoric acid production, with the original source rock
for both deposits being a hardrock carbonatite.

The Phalaborwa Preliminary Economic Assessment has confirmed strong base line
economics for the project, which has a base case NPV10 of US$627 million, an
average EBITDA operating margin of 75% and a payback period of < two years.

More information is available at www.rainbowrareearths.com
(http://www.rainbowrareearths.com)

 

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                                                         Pete Gardner
 2   Reason for the notification
 a)  Position/status                                              Chief Financial 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                                    Disposal and purchase of shares on transfer to SIPP and ISA

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

                                                            £0.125    560,016  - disposed
                                                                  £0.125    559,792 - purchased
 d)  Aggregated information

     Aggregated volume

                                                                  Net sale of 224 shares

     -      Price

                                                                  £28
 e)  Date of the transaction                                      30 October 2024

 f)  Place of the transaction                                     London Stock Exchange

d)

Aggregated information

 

Aggregated volume

 

-      Price

 

 

 

 

Net sale of 224 shares

 

£28

e)

Date of the transaction

 

30 October 2024

 

f)

Place of the transaction

London Stock Exchange

 

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