Altona Rare Earths plc has extended the exclusive period to 17 July for the Sesana copper-silver option in Botswana.
FUNDRAISE
In April the company signed a binding agreement with Ignate African Minerals Ltd for PL2329/2023, which lies in the heart of the Kalahari copper belt.
The licence is valid for copper, cobalt, gold, silver, lead, zinc, aluminium, chromium, iron, titanium and platinum group metals.
Altona also announced today a further shares subscription for £4,000 from an existing shareholder, adding to the recent £1.29m conditional fundraise.
The company will additionally issue a further 375,000 new shares to satisfy an existing creditor to the value of £3,750.
The number of shares to be issued pursuant to the fundraise, conversion of existing convertible loan notes and payment of fees and settlement of creditors totals 76,248,759.
The issue of the shares is subject to the publication of a Financial Conduct Authority approved prospectus.