Altona Rare Earths plc announced that its local representative partner in Malawi, Hilton Banda, is no longer a non-executive director (NED) of the company with immediate effect. The news follows the company’s decision to exit the project. Altona appointed Mr Banda as NED in November 2021.
Tag: Chambe – Malawi
Altona exits Chambe project
Altona Rare Earths plc announced it had terminated its interest in the Chambe project in Malawi. CONDITIONS PRECEDENT The company added that its local joint venture partner had failed to complete the conditions precedent as set out in an agreement. Altona said it had spent only minimal costs, mainly relating to due diligence, on the […]
Altona prepares for Chambe drilling and ESGs
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, […]
Altona agrees 51% acquisition of Chambe
Altona Rare Earths plc has entered into an agreement to acquire an initial 51% interest in the Chambe rare earths project in Malawi. CHAMBE LICENCE The news follows the start of exploration diamond drilling of four holes and reverse circulation drilling of 35 holes for total 3,000m across six targets at the company’s other project […]
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 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: […]