Altona Rare Earths said it expected to start during September at its Monte Muambe project in northwest Mozambique. LISTING The company added that groundwork operations had started ahead of schedule and on 31 August the project manager and his team were in situ. Exploration drilling is expected to begin before the end of September, in […]
Tag: Monte Muambe – Tete Province – northwest Mozambique
Altona raises £1.25m from placing
Altona Rare Earths plc has raised £1.25 million before expenses from a “significantly over subscribed” placing. Funds raised will be used for evaluating and developing projects in Africa.
Altona appoints Luis Veloso as project manager
Altona Rare Earths plc has appointed Luis Veloso as project manager for the Monte Muambe project in Mozambique. Mr Veloso, aged 38, is a qualified exploration geologist and environmental technician, and a board member of the Mozambican Geology and Mine Association. He has worked in Mozambique for the past 12 years, including spending 18 months […]
Altona to start Monte Muambe rare earths exploration
Altona Rare Earths plc said it hoped to start its first exploration work by the end of September in Mozambique. FINANCE In its audited final results for the year ended 30 June 2021, the company also announced that expenditure totalled £733,000 (FY20: £225,985), reflecting Altona’s new strategy of investments into rare earths projects in Africa […]
Altona signs exclusive deal for Monte Muambe
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 […]
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 […]