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 Pete Gardner | +27 82 652 8526
|
|
| IR | Cathy Malins | +44 7876 796 629 |
| Berenberg | Broker | Matthew Armitt Jennifer Lee
| +44 (0) 20 3207 7800 |
| Stifel
| Broker | Ashton Clanfield Varun Talwar
| +44 20 7710 7600 |
| Tavistock Communications | PR/IR | Charles Vivian Tara Vivian-Neal | +44 (0) 20 7920 3150 |
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
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
Identification code | Ordinary shares of no par value
GG00BD59ZW98 | ||||||
| b) | Nature of the transaction
| Disposal and purchase of shares on transfer to SIPP and ISA | ||||||
| c) | Price(s) and volume(s)
|
| ||||||
| 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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