TIDMRBW
RNS Number : 5022A
Rainbow Rare Earths Limited
24 May 2023
22 May 2023
Rainbow Rare Earths Limited
("Rainbow" or "the Company")
LSE: RBW
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GG00BD59ZW98
Issuer Name
RAINBOW RARE EARTHS LIMITED
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights; An acquisition or
disposal of financial instruments; An event changing the breakdown
of voting rights
3. Details of person subject to the notification obligation
Name
Spreadex LTD
City of registered office (if applicable)
St. Albans
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s)
subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
23-May-2023
6. Date on which Issuer notified
24-May-2023
7. Total positions of person(s) subject to the notification
obligation
% of voting rights % of voting rights Total of both in % Total number of
attached to shares through financial (8.A + 8.B) voting rights held
(total of 8.A) instruments (total in issuer
of 8.B 1 + 8.B 2)
Resulting situation
on the date on
which threshold
was crossed or
reached 0.414700 2.522700 2.937400 17590500
====================== ====================== ====================== ======================
Position of
previous
notification (if
applicable) 0.471800 2.601100 3.072900
====================== ====================== ====================== ======================
8. Notified details of the resulting situation on the date on
which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares Number of direct Number of indirect % of direct voting % of indirect voting
ISIN code(if possible) voting rights (DTR5.1) voting rights rights (DTR5.1) rights (DTR5.2.1)
(DTR5.2.1)
GG00BD59ZW98 2483333 0.414700
====================== ====================== ====================== ======================
Sub Total 8.A 2483333 0.414700%
============================================== ==============================================
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial Expiration date Exercise/conversion period Number of voting rights % of voting rights
instrument that may be acquired if
the instrument is
exercised/converted
CFD/Spreadbet 15107167 2.522700
======================== ==================
Sub Total 8.B1 15107167 2.522700%
======================== ==================
8B2. Financial Instruments with similar economic effect
according to (DTR5.3.1R.(1) (b))
Type of financial Expiration date Exercise/conversion Physical or cash Number of voting % of voting rights
instrument period settlement rights
Sub Total 8.B2
========================================================= =================== ==================
9. Information in relation to the person subject to the
notification obligation
1. Person subject to the notification obligation is not
controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an
interest in the (underlying) issuer.
Ultimate controlling Name of controlled % of voting rights if % of voting rights Total of both if it
person undertaking it equals or is higher through financial equals or is higher
than the notifiable instruments if it than the notifiable
threshold equals or is higher threshold
than the notifiable
threshold
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
Cameron Davidson
01727 895134
12. Date of Completion
24-May-2023
13. Place Of Completion
UK
For further information, please contact:
Rainbow Rare Earths George Bennett
Ltd Company Pete Gardner +27 82 652 8526
Cathy Malins +44 7876 796 629
(IR) cathym@rainbowrareearths.com
Matthew Armitt
Berenberg Broker Jennifer Lee +44 (0) 20 3207 7800
Tavistock Communications PR/IR Charles Vivian +44 (0) 20 7920 3150
Tara Vivian-Neal rainbowrareearths@tavistock.co.uk
Notes to Editors:
Rainbow's strategy is to identify near-term, secondary rare
earths production opportunities. Meeting escalating demand for
critical minerals needed for global decarbonisation, we are focused
on producing the magnet rare earth metals neodymium and
praseodymium ("NdPr"), dysprosium and terbium. With our strong
operating experience, proven project development experience, unique
intellectual property and diversified portfolio, Rainbow will
develop a responsible rare earths supply chain to drive the green
energy transition.
The Phalaborwa Rare Earths Project, located in South Africa,
comprises a Measured and Indicated Mineral Resource Estimate of
30.4 Mt at 0.44% TREO contained within unconsolidated gypsum stacks
derived from historic phosphate hard rock mining. High value NdPr
oxide represents 29.0% of the total contained rare earth oxides,
with economic Dysprosium and Terbium oxide credits enhancing the
overall value of the rare earth basket in the stacks. The rare
earths are contained in chemical form in the gypsum stacks, which
allows high value separated rare earth oxides to be produced in a
single processing plant at site with lower operating costs than a
typical rare earth mineral project.
The Phalaborwa Preliminary Economic Assessment has confirmed
strong base line economics for the project, which has a base case
NPV(10) of US$627 million [1] , an average EBITDA operating margin
of 75% and a payback period of < two years. Pilot plant
operations will commence in 2023, with the project expected to
reach commercial production in 2026, just five years after work
began on the project by Rainbow.
[1] Net present value using a 10% forward discount rate
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END
HOLAIMPTMTATMBJ
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