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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Altona Rare Earths Plc | REE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 1.325 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.325 | 1.325 | 1.325 | 1.325 | 1.325 |
| Industry Sector |
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| GENERAL FINANCIAL |
| Top Posts |
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Posted at 28/1/2025 08:30 by pangrati MONTE MUAMBE MINING LICENCE UPDATEAltona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to announce that the Monte Muambe rare earths and fluorspar project's mining licence number 11854 status has been updated to "active" on the Mozambique Government's mining cadastre system. Monte Muambe mining licence update Final submissions were made to the Ministry of Mineral Resources and Energy ("MIREME") in December 2024. The status of the mining licence (referred to in Portuguese as concessão mineira) number 11854 has been updated to "active" ("em vigor"), with a validity extending up to 20 December 2049. The Company expects to receive in due course a formal communication from MIREME with respect to the approval of the mining licence. The mining licence is valid for rare earths and associated minerals, which includes de facto fluorspar. The Mozambique government mining cadastre can be consulted by the public on the following link: hxxps://portals.land |
Posted at 27/1/2025 07:50 by pangrati SESANA COPPER PROJECT FINAL AGREEMENTAltona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to announce that, further to the exercise of the Sesana copper project option announced on 29 July 2024, it has entered into a final agreement with Ignate African Minerals (Pty) Ltd ("Ignate") with respect to prospecting licence PL2329/2023 ("Tenement"), located in the Kalahari Copper Belt in Botswana. Sesana copper project final agreement signature Further to the signature of a binding option agreement with Ignate with respect to the Tenement announced on 9 April 2024, and to the exercise of the option announced on 29 July 2024, Ignate and the Company have signed the final agreement, which will allow the Company to acquire an interest of up to 85% in the Tenement, in consideration for payments in three tranches spread over a period of four years totalling USD 110,000 in cash and USD 250,000 in new Altona shares ("Shares"), with phased exploration technical and expenditure commitments . The agreement is subject to conditions precedents including the transfer of the Tenement to Sesana Copper (Pty) Ltd, a Botswana-registered company held 51% by Altona and 49% by the shareholders of Ignate. These payments and minimum expenditure commitments are broken down as follows: Phase Payments to Ignate shareholders Expenditure commitments % of Tenement earned-in by Altona Phase 1 (12 months) USD 50,000 in Shares(1) USD 100,000 (geophysics, definition of drilling targets) 51% Phase 2 (18 months) USD 50,000 in cash USD 100,000 in Shares(2) USD 400,000 (initial drilling, 2,000m minimum) 70% Phase 3 (18 months) USD 50,000 in cash USD 100,000 in Shares(3) USD 1,000,000 (maiden JORC mineral resource estimate, conceptual study) 85% (1) Shares will be priced at the VWAP for the 10 days before the signature of the final agreement and issued when the conditions precedents are fulfilled (2) Shares will be priced at the VWAP for the 10 days before the start of phase 2 (3) Shares will be priced at the VWAP for the 10 days before the start of phase 3 Post this earn-in period, non-funding parties will be diluted according to a standard straight line dilution formula and, if their interest falls below 10%, it will be replaced by a 1% Net Smelter Royalty. Should a resource of over 20 million tonnes at over 1% Cu equivalent be defined, the original Tenement owner will also be entitled to a one-off payment of USD 250,000 in cash and USD 250,000 in Shares issued at the VWAP for the 10 days before the announcement of the corresponding resource statement. The Tenement is located in the Kalahari Copper Belt, about 25km from the low-cost Khoemacau Copper-Silver underground mine, and close to Galileo Resources' licence PL039/2018 and ARC Mineral's licence PL135/2017 (Virgo Copper-Silver Project). Recent interpretation of regional airborne magnetic data shows that a ca. 10km long stretch of the contact between the D'Kar and Ngwako Pan formations contact is passing through the northern part of the Tenement, along the eastern margin of a fold structure, which makes it a perfect setting for copper-silver mineralisation. The project is currently undergoing environmental permitting processes to enable the start of exploration activities on the ground. Exploration activities will start with high-resolution geophysical surveys in order to identify and select the most promising drilling targets along the D'Kar / Ngwako Pan formations contact, and will be followed by drilling. Cedric Simonet, CEO of Altona, commented: "I am very pleased to start 2025 with this significant step forward for the Sesana copper project. The signature of the Sesana copper project final agreement will enable the Company to focus on on-going environmental permitting to enable the start of exploration activities as soon as possible." |
Posted at 24/12/2024 15:26 by dcarn REE is not an AIM stock. |
Posted at 04/11/2024 07:35 by apotheki About Altona Rare Earths PlcAltona is a resource exploration and development company focused on critical raw materials in Africa. The Company is listed on the Main Market of the London Stock Exchange with the ticker "REE". The Company currently holds copper, fluorspar and rare earths projects. The Monte Muambe rare earths and fluorspar projects is located in Northwest Mozambique. The Project was acquired in June 2021, and the Company has so far drilled over 7,800m, and defined a maiden JORC Mineral Resource Estimate of 13.6 million tons at 2.42% TREO. A Competent Person Report including the Scoping Study for Monte Muambe was published on 18 October 2023, and a mining licence is expected to be granted before the end of 2024. The Project is now at Prefeasibility Study stage, with a focus on metallurgical testing for rare earths extraction. The Company is also assessing the possibility of rapidly putting in production high-grade fluorspar veins occurring at Monte Muambe along the western margin of the rare earth bearing carbonatite intrusion. Altona is presently diversifying its portfolio by acquiring a limited number of critical raw material projects to complement Monte Muambe. The acquisitions of the Kabompo South copper project in Zambia and of the Sesana copper-silver project in Botswana, located just 25 km from MMG's Khoemacau Zone 5 copper-silver mine, represent the first steps towards the implementation of this expanded strategy. |
Posted at 04/11/2024 07:33 by apotheki ALTONA RARE EARTHS PLC("Altona" or "the Company") MONTE MUAMBE FLUORSPAR MINING SCOPING STUDY OPERATIONAL UPDATE Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to provide an operational update on its scoping study for the short-term development of a fluorspar mine at Monte Muambe. Highlights · Scoping study on short-term fluorspar mining at Monte Muambe started, results expected Q1 2025. · Field activities completed and representative ore sample taken for assay, beneficiation testing and evaluation by potential buyers. As announced on 25 September 2024, the Company has started a scoping study (the "Study") for the production of metallurgical grade fluorspar from low-tonnage high-grade veins located along the western margin of the rare earths bearing Monte Muambe carbonatite intrusion (the "Fluorite Zone"). As part of this Study, the Company's team carried out field activities at Monte Muambe during the month of October. These included: · A photogrammetric topographic survey of the Fluorite Zone to provide a high-resolution Digital Terrain Model ("DTM") to serve as base for 3D modelling of fluorspar mineralisation. · Detailed geological mapping of high-grade fluorspar outcrops. · The production of a representative 300kg crushed sample of high-grade fluorspar ore. The ore sample will be split into different sub-samples which will be used for geochemical assays and for beneficiation testing. Representative sub-samples will also be submitted to potential buyers and off-takers for evaluation this month. Results will be communicated to shareholders as soon as possible and will be used as inputs in the Study. The Study will take into consideration the potential production of 15,000 to 20,000 tons of fluorspar per year over an initial period of 5 years. Beneficiation of high-grade ore from the Fluorite Zone to produce metallurgical-grade fluorspar is expected to be simple and to involve crushing followed by gravity concentration using jigs or a Dense Medium Separation ("DMS") plant, translating into a relatively low capex. The Study is expected to be completed during Q1 2025. The anticipated size and relative simplicity of this project lends itself to fast-tracking, with potential for commercial sales within 12 months of an investment decision. Cedric Simonet, CEO of Altona, commented: "The potential rapid development of fluorspar production from the Fluorite Zone at Monte Muambe represents an excellent opportunity to monetise an additional part of our investment in this asset. If successful, it would create a cash inflow for the Company. "Furthermore, this project fits perfectly in our diversification strategy, along with our promising copper exploration assets in Botswana and in Zambia, therefore expanding revenue generation opportunities for the Company." |
Posted at 25/10/2024 08:35 by sharesoc Join ShareSoc for the Growth Company Seminar/Webinar – 27th November 2024 (London)On 27th November, ShareSoc is hosting a Growth Company Seminar in London featuring presentations from: Bioventix (BVXP) – Peter Harrison, CEO Polar Capital Global Financials Trust plc (PCFT) – Tom Dorner, Fund Manager Altona Rare Earths (REE) – Dr. Cedric Simonet, CEO Wheaton Precious Metals (WPM) – Randy Smallwood, President & CEO Schedule: 5:00 pm start 25-minute presentations 15-minute Q&A after each presentation Networking over drinks and buffet Attend in-person or watch virtually. Register Here: |
Posted at 21/10/2024 06:50 by apotheki KABOMPO SOUTH COPPER PROJECTGEOPHYSICAL DATA REVIEW RESULTS Altona (LSE: REE), a resource exploration and development company focused on diversified critical raw materials in Africa, is pleased to announce the results of the geophysical and geochemical data assessment for the Company's new Kabompo South copper project in Zambia, performed by Earthmaps Consulting ("Earthmaps"). Highlights · Earthmaps concludes that Kabompo South is prospective for Iron Ore Copper Gold ("IOCG") copper mineralisation. · The data assessment confirms the presence of geophysical features typically associated with IOCG deposits in Zambia. · In Zambia, the viability of IOCG copper deposits has been clearly demonstrated by the discovery of the Kitumba copper deposit (31.5mt at 2.05% Cu), the mine construction for which started recently. As announced on 25 September 2024, the Company engaged the services of Earthmaps, a Namibian based geophysical services company headed by industry veteran Klaus-Peter Knupp, to assess the Kabompo South project's geophysical and geochemical datasets, which include a high-resolution ground magnetometer survey covering over 50% of the licence. The data assessment revealed that the licence is largely underlain by iron-rich Hook Granites intruding low metamorphic Kundelungu Group sediments at different depths; some of the intrusions being shallow and potentially sub-outcropping. One of the magnetic anomalies originating from the Hook Granites coincides with a soil geochemical anomaly marked by elevated copper values. These conclusions are consistent with geological features observed on the ground in and around the Kabompo South licence area, including the characteristics of the Kamweji copper deposit and the widespread presence of hematite veins. Therefore, Earthmaps has, the Company is pleased to confirm, concluded that Kabompo South is prospective for IOCG copper mineralisation. Following this key and positive data assessment, the Company will proceed with further exploration work at Kabompo South. The initial phases will include magnetic forward and inversion modelling, as well as an extensive soil geochemical survey that will allow the Company to fully understand the geometry of the granite intrusions and associated structures, and to rapidly define initial drilling targets. IOCG Deposits in Zambia IOCG deposits are an important family of copper (and other minerals) deposits sharing common features, including their association with specific types of igneous intrusions, strong structural controls (including extensive breccia) and the abundance of magnetite and/or hematite. In Zambia, the potential of the Hook Granites for IOCG deposits is well recognised. Exploration efforts at Kitumba, in the Mumbwa district of central Zambia, have led to the discovery of a significant IOCG copper deposit. This deposit, located in a similar geological context to Kabompo South, has proved and probable ore reserves totalling 31.5 mt at 2.05% Cu. It is now owned by Sinomine and the ground-breaking ceremony for the construction of the mine took place in August 2024. Cedric Simonet, CEO of Altona, commented: "The data assessment carried out by Klaus and his team has clearly outlined a geological context favorable to IOCG mineralisation, which are known to carry viable copper deposits in Zambia. The definition of a geological model to guide exploration is a necessary first step for any mining project and this represents a significant and exciting advancement for the Kabompo South project. I look forward to implementing the next exploration activities on the ground and updating our shareholders accordingly when the next set of results have been prepared." Simon Charles, Chair of Altona, commented: "These datasets from the Earthmaps team for Kabompo South are very pleasing. We are seeing our ambition to hold interests in a diversified portfolio of mineral assets beginning to take shape." |
Posted at 03/10/2024 09:00 by sharesoc Watch the insights given by European Green Transition plc (EGT) and Altona Rare Earths PLC (REE) on their current performance and future plans in our recent webinar. The full presentations and Q&As are now on the ShareSoc YouTube. |
Posted at 17/9/2024 15:23 by sharesoc ShareSoc, in collaboration with InvestorHub, presents a new monthly webinar series designed to spotlight small and midcap companies listed on AIM or the Aquis Exchange, with the aim of providing insights into innovative and high growth prospects within the market.This month we are pleased to feature Tribe Technology PLC (TRYB), Altona Rare Earths PLC (REE) and European Green Transition plc (EGT) Register Here: |
Posted at 29/7/2024 06:53 by apotheki EXERCISE OF SESANA COPPER-SILVER PROJECT OPTION,BOARD CHANGES, NOTICE OF GENERAL MEETING Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, announces that further to the announcements of 9 April 2024, 4 July 2024 and 18 July 2024, it has now exercised its option to acquire the Sesana Copper-Silver project located in Botswana. Sesana Copper-Silver project acquisition Further to the signature of a binding option agreement with Ignate African Minerals (Pty) Ltd ("Ignate") with respect to prospecting licence PL2329/2023 ("Tenement"), located in Botswana, the Company has notified Ignate of the exercise of the option, which allows the Company to acquire an interest of up to 85% in the Tenement, in consideration for cash and Altona shares payments, and for exploration expenditure commitments. The Tenement is located in the Kalahari Copper Belt, about 25km from the low-cost Khoemacau Copper-Silver underground mine, and close to Galileo Resources licence PL039/2018 and ARC Minerals licence PL135/2017 (Virgo Copper-Silver Project). Recent interpretation of regional airborne magnetic data shows that a ca. 10km long stretch of the contact between the D'Kar and Ngwako Pan formations contact is passing through the northern part of the Tenement, along the eastern margin of a fold structure, which makes it a perfect setting for copper-silver mineralisation. Altona and Ignate are now preparing the final agreement, which is expected to be signed shortly. Activities pertaining to environmental and administrative processes in Botswana have started, and plans are being made to start exploration activities in due course. Board changes The Company announces that Audrey Mothupi will step down as a Non-Executive Director of the Company effective 1 August 2024, after 3 years on the Board. Commenting, Martin Wood, Chairman of Altona, said: "I would like to extend my personal thanks to Audrey for her very professional service to the Board of Altona. Her experienced and thoughtful approach to all aspects of Board work is impressive and her ability to build great working relationships with everyone made it a pleasure to work with her. I wish Audrey the best luck for the future and hope we can work together again." Mr Kristoffer Andersson has been appointed to the Board of Directors of the Company as a Non-Executive Director, effective 1 August 2024. Mr Andersson is an economist with extensive experience in the renewable energies, mining, commodity trading and natural resources sectors, as well as investment banking in emerging markets in Latin America and Africa. He has served on the Board of Directors for both private and public companies across various industries, and co-founded Ashmont Resources Corp, a Canadian private company focusing on high-value mineral assets in Colombia. Mr Andersson is currently the CEO of Ironveld Plc, a mining company and speciality metals producer based in South Africa, listed on the AIM Market of the London Stock Exchange. Notice of General Meeting The Company announces it will hold a General Meeting ("GM") on Tuesday 20 August 2024 at 11 am, at the office of Orana Corporate, Eccleston Yards, London, SW1W 9NF. The Notice of the GM and the Form of Proxy are available on the Company's website: hxxps://investors.al Cedric Simonet, CEO of Altona, commented: "I am delighted with the exercise of the Sesana Copper-Silver project option, which marks a significant step forward towards commencing exploration activities on this project. The unique geological setting of copper-silver mineralisation in the Kalahari Copper Belt is well defined, and identifiable through the use of various geophysical methods, making it possible to fast-track exploration activities. The presence of an operating mine and of several active exploration projects in close proximity of the Tenement supports our assessment of its prospectivity. "I would also like to welcome Kris to the Board of Directors of Altona. Kris' varied business and funding experience in South America and Southern Africa will add significant value to the Company's on-going diversification strategy." |
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