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 […]
Tag: Altona Rare Earths plc
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 […]
Altona losses rise as rare earths plan takes shape
Altona Rare Earths plc reported higher losses in 2020 reflecting an increase in the companies’ move towards its new focus on rare earths elements (REEs). For the six months ended 31 December 2020, the company recorded losses of £119,000 (H1 2019: £78,000). The group had total liabilities of £536,000 at 31 December 2020 (H1 2019: […]
Altona nears 70% interest in Nankoma
Altona Rare Earths plc announced it had signed an option deed to acquire a 70% legal and beneficial interest in Leadway Group Ltd, owner of the Nankoma rare earths project in Uganda. The project is in exploration licence EL00115, covering an area of 67.5 km2 and is located some 50km east of Jinja, which lies 130km […]
Altona signs MoU for Monte Muambe
Altona Rare Earths plc has signed an memorandum of understanding for up to a 70% earn-in of the Monte Muambe rare earths project in northwest Mozambique. OPEN PIT Altona, which also has rare earth interests in southeast Uganda and southern Malawi, signed the MoU with Ussokoti Investimetos Limitada to start a legal and technical due […]