LONDON (ShareCast) - (Sharecast News) - Shares in Rainbow Rare Earths were rising on Tuesday afternoon, after the company disclosed the purchase of more than 0.4 million shares linked to its chief executive officer.
The firm said Pipestone Capital bought 435,000 shares on Monday, in a single transaction on the London Stock Exchange.

Pipestone paid 9.9p for each share, valuing the investment at a total of £43,065.00.

The Guernsey-domiciled Rainbow Rare Earths said in its disclosure that Pipestone Capital is beneficially owned by its CEO, George Bennett.

Bennett's purchase came a week after the pre-revenue rainbow released its preliminary results for the year through June, reporting progress on its Phalaborwa project and the restart of its Gakara operations.

The firm's shares declined in the ensuing days, from 11.75p before the results were released on 24 October, to reach a trough of 9.75p on Friday 28 October.

At 1547 GMT on Monday, they were up 3.2% at 10.16p.

Reporting by Josh White for Sharecast.com.

Top Director Buys

Rainbow Rare Earths Limited Npv (RBW)
Director name: Bennett,George
Amount purchased: 435,000 @ 9.90p
Value: £43,065.00

Seeing Machines Ltd. Npv (di) (SEE)
Director name: Hill,Kate
Amount purchased: 400,000 @ 6.96p
Value: £27,840.00

Strip Tinning Holdings (STG)
Director name: Barton,Richard
Amount purchased: 13,725 @ 72.50p
Value: £9,950.63

Volta Finance Limited (VTA)
Director name: Kershaw,Dagmar Kent
Amount purchased: 1,293 @ 4.80
Value: 6,206.40

Volta Finance Limited (VTA)
Director name: Page,Stephen Le
Amount purchased: 1,099 @ 4.80
Value: 5,275.20

Volta Finance Limited (VTA)
Director name: Ogoundele,Yedau
Amount purchased: 905 @ 4.80
Value: 4,344.00

Volta Finance Limited (VTA)
Director name: Harrison,Graham
Amount purchased: 905 @ 4.80
Value: 4,344.00

Touchstone Exploration Inc Npv (di) (TXP)
Director name: Baay,Paul R.
Amount purchased: 4,184 @ $1.18
Value: $2,920.86

Angling Direct (ANG)
Director name: Keen,Chris
Amount purchased: 1,500 @ 29.13p
Value: £436.95

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