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Share Name Share Symbol Market Type Share ISIN Share Description
Rainbow Rare Earths Limited LSE:RBW London Ordinary Share GG00BD59ZW98 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.00 5.26% 20.00 19.00 19.50 19.25 18.75 19.125 1,959,407 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.4 -2.2 -0.6 - 95

Rainbow Rare Earths Limited Disclosure of Share Transaction

15/02/2021 7:00am

UK Regulatory (RNS & others)


Rainbow Rare Earths (LSE:RBW)
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RNS Number : 0130P

Rainbow Rare Earths Limited

15 February 2021

FOR IMMEDIATE RELEASE

15 February 2021

Rainbow Rare Earths Limited

("Rainbow" or the "Company") (LSE: RBW)

Notification and public disclosure of transactions by PDMR and persons closely associated with them

The Company announces that Victoria Lowrie, spouse of Alex Lowrie, a Non-executive Director of the Company, has on 12(th) February 2021 purchased 320,000 ordinary shares of no par value each in the Company ("Ordinary Shares") at an aggregate price of 12.00 pence per share.

As a result of this transaction the beneficial ownership of Alex Lowrie and related parties in the Ordinary Shares of the Company is as follows:

 
                    Total shares held prior     Total shares held post 
                         to transaction               transaction 
                               No          %               No         % 
                  ---------------  ---------  ---------------  -------- 
 Alex Lowrie(1)         5,755,124      1.22%        6,075,124     1.29% 
                  ---------------  ---------  ---------------  -------- 
 

1. Includes shares held by Victoria Lowrie, spouse of Alex Lowrie, and shares held via a discretionary trust closely associated with Alex Lowrie

 
 1.     Details of the person discharging managerial responsibilities/person 
         closely associated 
  (a)   Full name                Victoria Lowrie 
         of person 
         Dealing 
       -----------------------  ---------------------------------------------- 
 2.     Reason for notification 
       ----------------------------------------------------------------------- 
  (a)   Position/status          Spouse of Alex Lowrie, 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)             12.0 pence     320,000 
                                                ---------- 
       -----------------------  ---------------------------------------------- 
  (e)   Aggregated 
         information:              N/A single transaction 
         - Aggregated 
         volume 
         - Price 
       -----------------------  ---------------------------------------------- 
  (f)   Date of transaction      12 February 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 Company's Gakara Project in Burundi, which produces one of the highest-grade concentrates in the world (typically 54% 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.

The Phalaborwa Rare Earths Project, located in South Africa, comprises approximately 35 million tonnes of gypsum tailings stacked in unconsolidated dumps derived from historic phosphate hard rock mining, containing rare earth elements with an initial estimated average in situ grade of 0.6% TREO, based on previous sampling campaigns, of which +/- 30% comprises high-value NdPr. 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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February 15, 2021 02:00 ET (07:00 GMT)

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