Altona Rare Earths plc today issued a total 2,080,494 ordinary shares of £0.01 each in lieu of cash salary payments to its directors. TVRs The move is accordance with agreed measures to conserve cash on a month-by-month basis. Chief executive officer Cedric Simonet received 573,276 shares to hold 3,398,986 shares in total, representing 2.05% holding […]
Tag: Monte Muambe – Tete Province – northwest Mozambique
Altona intercepts gallium at Monte Muambe
Altona Rare Earths plc said it had discovered high grade gallium mineralisation at Monte Muambe in Tete Province, northwest Mozambique. ECONOMICS The company intercepted gallium, of up to 232 g/t, along the entire length of hole MM039 located at the Northern End of the Fluorite Zone at target 6. The best intercept at MM039 was […]
Altona optimistic on fluorspar assays
Altona Rare Earths plc has received “very encouraging” assays from fluorspar ore samples collected last October from the fluorite zone at the Monte Muambe rare earths project in northwest Mozambique. PRODUCTION Returns of an average of 88.03% fluorite (CaF2) exceeded expectations given that the typical range for metallurgical grade fluorspar is 60 to 85%, the […]
Altona continues investments as cash falls
Altona Rare Earths plc posted a fall in cash reserves as it continues to diversify its portfolio alongside investing in its flagship Monte Muambe project in Mozambique. VALUE Year results ended 30 June show a decrease from £1.1 million to £400,000 although offset by new loans totalling £900,000. Altona’s investments rose from £1.6m to £2.1m […]
Altona reviews fluorspar-diamond potential
Altona Rare Earths plc is reassess the potential for fluorspar production at Monte Muambe in Mozambique and for diamonds at its Zambia copper project. VEINS The move follows results from initial flotation rougher tests which included rare earths recovery of 69.3% and “good selectivity of rare earth minerals versus fluorite”. Legacy exploration mainly focused on […]
Altona to expand and diversify Africa assets
Altona Rare Earths plc is assessing potential new low-cost entry metals opportunities in Africa to balance its flagship Monte Muambe project. RISK The company said that following a review of its corporate strategy the time was right to add further rare earths interests as well as other raw materials such as copper, lithium and niobium. […]