Altona Rare Earths plc said it had started preparations ahead of drilling in April 2022 at the Chambe project in Malawi.
ESGs
The company added it was also currently developing its community and environmental relations.
Part of this will involve tree planting for which Altona and its local joint venture partner will plant 16,000 saplings, in conjunction with the villages around the licence area in March 2022.
RESOURCE ESTIMATES
Chief executive Christian Taylor-Wilkinson said that the company had made major progress during 2021 by achieving set targets for its assets in Malawi and Mozambique as well as raising more than £2 million.
“The next steps will be to complete new phases of drilling to produce maiden resource estimates at Monte Muambe [in Mozambique] and Chambe.
“We believe the planned transition of our stock market listing from Aquis to the London Stock Exchange, will provide access to the levels of funding we will need to take these projects to BFS [bankable feasibility study] within the next few years.”