Rainbow Rare Earths Limited Disclosure of Share Transaction (0130P)
February 15 2021 - 1:00AM
UK Regulatory
TIDMRBW
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.
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END
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