Altona Rare Earths plc is to acquire its first rare earths asset after signing an exclusive acquisition deal for the Monte Muambe project in Tete Province, northwest Mozambique. PROGRAMME The company entered into an agreement with Ussokoti Investimentos Limitada for up to 70% of the project via a farm-in arrangement. Altona has also started its […]
Tag: Altona Rare Earths plc
Altona raises £177,700 via placing
Altona Rare Earths plc raised £177,700 before expenses, through the issue of 1,480,836 new ordinary shares at an issue price of 12 pence per share, a 29% premium to the closing share price on 18 June 2021. The company is issuing 740,419 warrants, on a one warrant for every two shares purchased basis, to the […]
Altona aims to extend over four African countries
Altona Rare Earths plc announced it intends to develop its portfolio with multiple African projects across the four countries of Mozambique, Angola, Tanzania and Uganda. The company expects to secure new rare earths projects in the second half of 2021, should they follow a strict selection process. In its current portfolio, Altona is negotiating three acquisition contracts through which it […]
Altona reaches total £599,000 from placing
Altona Rare Earths plc said it had now received the final placing funds of £57,500 from the placing closed in January, raising a total of £599,000 (before expenses) at 6.5 pence. As a result, a further 884,619 shares have been issued pursuant to the placing. In addition, Altona has also issued 493,207 shares to service […]
Altona nears end of Chambe due diligence
Altona Rare Earths plc said it was in the final stages of the due diligence process for its proposed acquisition of the Chambe ionic clay rare earths project in Malawi. LSE STANDARD MARKET The company added that in April it had started the application process for listing on the Standard Market of the London Stock […]
Altona to acquire 70% Monte Muambe
Altona Rare Earths plc plans to acquire the Monte Muambe rare earths project in Tete Province, northwestern Mozambique. EXPLORATION In March 2021, the company signed a Memorandum of Understanding with Ussokoti Investimentos Limitada, before beginning due diligence. Altona today said it had instructed its UK legal counsel to prepare the final contract to start the […]