Altona Rare Earths plc said it expected to complete its admission in the coming weeks to the Standard segment of the London Stock Exchange.
MONTE MUAMBE
The company decided in early 2021 to transfer listing from AQSE to the LSE.
While working with its advisers on admission, Altona has also progressed its flagship project at Monte Muambe in Tanzania, for which it is preparing a scoping study and preliminary economic assessment.
DEMAND
Chief executive Christian Taylor-Wilkinson added that although the listing process had taken far longer than anticipated, the company hoped it was entering the final stages of the process with the Financial Conduct Authority.
“The board firmly believes that the potential of Monte Muambe to become an important part of the global rare earths supply chain, justifies the time and cost taken to complete the LSE listing.
“Should the results of our scoping study and preliminary economic assessment be positive, which we expect them to be when they are published in Q1 2023, we will be looking to fast-track Monte Muambe through its feasibility study and into production, in order to meet the rising global demand for rare earth metals.”