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 […]
Tag: rare earth elements
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 […]
Botswana SJV completes initial orientation for REEs
The rare earth elements 50-50 strategic joint venture between Kavango Resources plc and Power Metal Resources plc has completed the first stage of orientation work at Ditau Camp, Botswana. The work included geophysical and geochemical surveys at the site covering two prospecting licences of PL169/2012 and PL010/2019. Power Metal said that orientation work was conducted […]
Altona Energy appoints Cedric Simonet as NED
Altona Energy plc has appointed Cedric Simonet as a non-executive director with immediate effect. French geologist Cedric Simonet, 47, has spent most of the past 25 years living and working in Africa and works as an independent consultant in mineral development across the continent. He graduated from Université Blaise Pascal with a Masters in Geology in […]