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Pin to quick picksRainbow Rare Earths Regulatory News (RBW)

Share Price Information for Rainbow Rare Earths (RBW)

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Share Price: 9.80
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Change: -0.45 (-4.39%)
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Open: 10.25
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Exercise of Share Options

22 Jan 2021 07:00

RNS Number : 5319M
Rainbow Rare Earths Limited
22 January 2021
 

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

(LSE: RBW)

22nd January 2021

 

Exercise of Share Options

Rainbow Rare Earths Ltd announces that the Company has allotted a total of 4,000,000 new ordinary shares of no par value ('Ordinary Shares') at a price of 5.28p per share to the Australian Special Opportunity Fund, LP on receipt by the Company of a valid notification to exercise share options. Following this exercise the Australian Special Opportunity Fund, LP holds a further 9,718,987share options with an exercise price of 5.28p per share, which can be exercised until 24th January 2023.

 

The new Ordinary Shares rank pari passu with the Company's existing issued Ordinary Shares and application has been made for the Ordinary Shares to be admitted to the Main Market of the London Stock Exchange. Dealings are expected to commence on 27th January 2021.

 

The Company's enlarged issued share capital will be 471,681,551 Ordinary Shares. The Company has no treasury shares. This figure of 471,681,551 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

**ENDS**

For further information, please contact

Rainbow Rare Earths Ltd

Company

George Bennett

Pete Gardner

+27 82 652 8526

 

SP Angel Corporate Finance LLP

Broker

Ewan Leggat

Charlie Bouverat

+44 (0) 20 3470 0470

Flagstaff Strategic and Investor Communications

Tim Thompson

Fergus Mellon

+44 (0) 207 129 1474

rainbowrareearths@flagstaffcomms.com

 

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% total rare earth oxide ("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 80% of the value of the concentrate.

The Phalaborwa Rare Earths Project, located in South Africa, comprises approximately 35 million tonnes of gypsum resulting from historic phosphate hard rock mining, containing rare earth elements with an 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 stacks, 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.
 
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Date   Source Headline
28th Mar 20247:00 amRNSInterim Results
20th Mar 202411:37 amRNSPublication of Conference Presentation
26th Feb 20247:00 amRNSResource Update
5th Feb 20247:00 amRNSUpdate on Rare Earth Oxide Separation Progress
31st Jan 20247:00 amRNSPublication of Site Visit Presentation
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16th Jan 20247:00 amRNSAppointment of Stifel as Joint Broker
11th Jan 20247:00 amRNSRare Earth Oxide separation commences in the U.S.
6th Dec 20237:00 amRNSConditional shares issue & share options exercise
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8th Nov 20237:00 amRNSTechMet option to invest US$50m in Phalaborwa
31st Oct 20239:23 amRNSPublication of Annual Report and Notice of AGM
30th Oct 20237:00 amRNSPreliminary results for the year-end 30 June 2023
5th Oct 20237:00 amRNSAdmission of First Tranche of Placing Shares
4th Oct 202312:19 pmRNSPrivate Placement Update
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27th Sep 20237:00 amRNSPrivate Placement Raises £4.5 Million
11th Sep 20237:00 amRNSSupply Agreement with UK-based Less Common Metals
7th Sep 20237:00 amRNSInitial Results from Uberaba confirm Rare Earths
5th Sep 20237:00 amRNSProduction of Mixed Rare Earth Sulphate
29th Aug 20237:00 amRNSDirector/PDMR Shareholding
8th Aug 20237:00 amRNSAJ Bell ‘Live’ Investor Evening 13 September 2023
18th Jul 20237:00 amRNSInvestor Presentation
17th Jul 20237:00 amRNSMOU signed with The Mosaic Company in Brazil
28th Jun 20237:00 amRNSAgreement to Allow 100% Ownership of Phalaborwa
12th Jun 20237:00 amRNSAppointment of Non-Executive Director
6th Jun 20234:03 pmRNSGrant of Share Options
6th Jun 20237:00 amRNSPhalaborwa Pilot Plant Commences Operations
26th May 20231:15 pmRNSDirector/PDMR Shareholding
24th May 20239:53 amRNSHolding(s) in Company
22nd May 20232:12 pmRNSGrant of Share Options
22nd May 20237:00 amRNSHolding(s) in Company
18th May 20235:00 pmRNSHolding(s) in Company
9th May 20237:00 amRNSPrivate placement raises £7.52 million
6th Apr 202312:00 pmRNSHolding(s) in Company
31st Mar 20231:52 pmRNSHolding(s) in Company
31st Mar 20237:00 amRNSInterim Results for six months to 31 December 2022
30th Mar 20237:00 amRNSHolding(s) in Company
20th Mar 20237:00 amRNSPhalaborwa Development and Resource Update
10th Feb 20237:25 amRNSDirector/PDMR Shareholding
10th Jan 20237:00 amRNSInvestor Presentation
15th Dec 20229:44 amRNSDirector/PDMR Shareholding - Replacement
15th Dec 20227:00 amRNSDirector/PDMR Shareholding
23rd Nov 20227:00 amRNSResults of Annual General Meeting
18th Nov 20229:30 amRNSShares/AJ Bell LIVE Investor Evening
10th Nov 20227:00 amRNSExercise of Share Options
1st Nov 20227:00 amRNSDirector/PDMR Shareholding
27th Oct 20227:00 amRNSPublication of Annual Report & Notice of AGM

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