Altona Rare Earths plc today began trading on the main market of the London Stock Exchange.
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On admission, the company will have 82,403,199 ordinary shares in issue.
Chief executive officer Cedric Simonet said that the move would significantly contribute to unlocking value in Altona’s flagship asset, Monte Muambe, and its strategy of becoming a rare earth producer in Africa.
The company will now focus on an inaugural JORC mineral resource estimate and scoping study, increasing its project holding to 51%, a prefeasibility study, and apply for a mining concession.