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 […]
Tag: rare earth elements
Kanye identifies REE drill targets at Ditau
Kanye Resources plc has identified several drill targets following completion of geophysical and geochemical surveys at the rare earth elements (REEs) project at Ditau, Botswana. The 50-50 joint venture company between the operator Kavango Resources plc and Power Metal Resources plc, completed the surveys on 12 target areas. HIGH PRIORITY Kavango said that seven drill […]
Altona reaches total £599,000 from placing
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 […]
Cadence JV targets $100.7m for Yangibana rare earths
Cadence Minerals plc said that its joint venture (JV) partner had received commitments to raise $100.7 million through an equity placement for the Yangibana rare earth project in the Gascoyne region of Western Australia. Australian company Hastings Technology Metals owns 70% and Cadence holds 30% of three mining leases and six exploration licences which form […]
Altona new name reflects focus on minerals
Altona Energy plc announced it was changing its name to Altona Rare Earths plc to reflect its new project interest. The mining exploration company was previously engaged in coal in Australia but during 2020 its focus moved to rare earth elements in eastern Africa. The company is also in the process of creating a new […]
Altona raises new funds after £11m impairment
Altona Energy plc recorded £11 million impairment of historic Australian coal assets as the company continues its transformation into an African-focused rare earths miner. For the year ended 30 June 2020, Altona reduced loss before taxation to £228,000 compared with £11.6m during 2019. The impairment of the intangible assets of £11,033,000 was due to Altona […]