Altona Rare Earths plc’s admission to the main market will now be at the end of March 2023 while the company finalises its prospectus for approval by the Financial Conduct Authority (FCA). The company last week raised £2 million for the transition which was previously expected to be on 20 March, subject to FCA consent. Altona […]
Tag: Altona Rare Earths plc
Altona raises £2m on cusp of admission to main market
Altona Rare Earths plc has raised £2 million via an oversubscribed placing and subscription. USES The placing resulted in £1,720,800 along with £279,200 from the subscription through the issue of 40 million new ordinary shares each at 5 pence. Altona plans to use the funds to complete the inaugural JORC compliant mineral resource estimate and […]
Altona prepares new fundraise for delayed listing
Altona Rare Earths plc is preparing to raise £1.5 million ahead of listing on the main market of the London Stock Exchange. FUNDRAISE The company aims to raise approximately £1.25m via a placing and subscription by certain directors of the company and other investors. In August 2022, Altona raised £1.1m but the admission process took longer […]
Altona 2022 drilling shows further high grade REEs
Altona Rare Earths plc said its now completed 2022 drilling programme showed further high grade rare earth element (REE) mineralisation at Monte Muambe in Tete Province, northwest Mozambique. MRE The 2022 programme comprised 36 reverse circulation (RC) holes for 3,360m, similar to 2021. Data will contribute to the company’s inaugural mineral resource estimate (MRE) expected […]
Altona secures £150,000 loan for Monte Muambe
Altona Rare Earths plc has secured a £150,000 loan to complete its 2022 programme and assay costs for its Monte Muambe project in northwest Mozambique. MRE The company will draw down the short-term loan facility from Align Research Investments Ltd in two tranches during November at a fixed interest rate of 15%. “In order to […]
Altona on course for MRE-scoping study
Altona Rare Earths plc said it was on schedule to produce its inaugural mineral resource estimate (MRE) and scoping study for its 100% Monte Muambe project in Tete Province, northwest Mozambique. TARGETS The company is currently progressing reverse circulation (RC) drilling at its targets. For activities during the third quarter, Altona reported that drilling focused […]