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REE Altona Rare Earths Plc

0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Altona Rare Earths Plc LSE:REE London Ordinary Share GB00BFZNKV91 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 1.375 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
1.25 1.50 1.375 1.375 1.375
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Coal Mining Services -1.3M -0.0153 -0.90 1.16M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.375 GBX

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Posted at 17/5/2024 09:20 by Altona Rare Earths Daily Update
Altona Rare Earths Plc is listed in the Coal Mining Services sector of the London Stock Exchange with ticker REE. The last closing price for Altona Rare Earths was 1.38p.
Altona Rare Earths currently has 84,445,734 shares in issue. The market capitalisation of Altona Rare Earths is £1,156,907.
Altona Rare Earths has a price to earnings ratio (PE ratio) of -0.90.
This morning REE shares opened at 1.38p
Posted at 07/5/2024 05:25 by the count of monte_cristo
Research Talks - Altona Rare Earths #REE,
Posted at 17/4/2024 08:43 by the count of monte_cristo

Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, announces that Cedric Simonet, Chief Executive Officer, will provide a live presentation relating to Altona's diversification strategy and on its new copper projects, on 17 Apr 2024 at 18:00 BST, via the Investor Meet Company platform.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard until 16 Apr 2024, 09:00 BST, or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet Altona via:

Investors who already follow Altona on the Investor Meet Company platform will automatically be invited.
Posted at 28/3/2024 07:41 by apotheki

Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to announce that it has entered into an agreement with Sustineri Group Ltd ("Sustineri") and with the beneficial owners of Phelps Dodge Mining (Zambia) Limited (the "Target") to acquire the entire issued share capital of Phelps Dodge Mining (Zambia) Limited, the registered holder of Large Scale Exploration Licence 21403-HQ-LEL ("the Licence") , located in the Mufumbe District of Northwestern Province of Zambia ("Tenement").


The consideration for the transfer of the exclusivity over the Tenement from Sustineri to Altona is £40,000 to be satisfied by the immediate issue of 800,000 new ordinary Altona shares ("Shares") at a price of 5p.

The consideration for the transfer of the Target from its present owners to Altona will be as follows:

· US$ 40,000 on completion, being the later of the date of the acquisition of the Target and the date of renewal of the Licence, payable in Shares at the 30 day volume-weighted average price, from which will be deducted any costs incurred by Altona to renew the Tenement and to transfer the Target; and
· US$ 150,000 12 months after completion, payable in Shares at the 30 day volume-weighted average price.

The Tenement

The Tenement is located in the Mufumbe District of Northwestern Province, Zambia. It has a surface area of approximately 616 km2 and is valid for copper, cobalt, nickel, lead, zinc, gold and diamonds. The Tenement is located 4 km west of the Kamweji copper occurrence, and 60 km southwest of the Mufumbwe copper mine (22 million tonnes at 1.6% Cu), along strike.

Zambia is a safe and mature mining jurisdiction known for its unique geology, dominated by the Central Africa Copper Belt, where copper, cobalt and silver have been mined for over a century, and where world class copper deposits continue to be discovered on a regular basis.

The Tenement was previously held by copper giant Freeport McMoRan until this company's strategic decision to exit Zambia in April 2020. The Tenement has seen prior grassroot exploration including 4,000 line kilometre of ground magnetometer survey and a partial leach soil geochemistry survey over a 4 kilometre square grid. This work highlighted the presence of a large copper gold silver anomaly in the Northeastern part of the Tenement, overlapping a possible demagnetised zone.

Immediate exploration work will include reprocessing of the magnetometer survey data and an ionic leach soil sampling survey at a reduced sample spacing, ahead of defining drilling targets by the end of the year.

Portfolio expansion and diversification

This proposed acquisition represents the first step in the implementation of the Company's updated corporate strategy announced on 19 February 2024.

As the Monte Muambe Prefeasibility Study is progressing with the on-going advanced metallurgical studies, Altona recognises that the time is right for the Company to expand and diversify its portfolio of projects in Africa. The Company continues to actively assess additional potential new opportunities with a focus on projects having a low-entry cost with a clear pathway to early results and to majority ownership.

Cedric Simonet, CEO of Altona, commented: "Securing an asset with enough potential to have historically attracted the attention of a major player in the copper mining industry is a significant achievement for Altona. We are delighted to make our entry into Zambia with this acquisition; a country where world-class copper and cobalt discoveries regularly make the news.

"As mineralogy and metallurgy work at Monte Muambe continues, the Kabompo South copper project acquisition demonstrates Altona's commitment to deliver on its updated corporate strategy through a careful selection of a limited number of high-quality projects."
Posted at 19/2/2024 07:30 by apotheki

Altona (LSE: REE), a resource exploration and development company focused on Rare Earths in Africa, is pleased to provide an operational update on its Monte Muambe Rare Earths project and on other activities.

Monte Muambe

As previously announced, Prefeasibility Study activities for Monte Muambe are underway and currently focused on advanced metallurgical testing. A 70kg representative ore sample is with Auralia Metallurgy in Perth (Australia), and another 100kg ore sample has been received by SGS Lakefields in Canada. The sample with SGS Lakefields will first undergo extensive feed characterisation including Electron Microprobe Analysis and TIMA-X analysis. TIMA-X stands for Tescan Integrated Mineral Analyzer and is a one of the newest automated mineralogy technologies. It is designed to provide quantitative mineral speciation and distribution, as well as characterisation, grain size attributes, degree of liberation and associations of minerals of interest.

Following feed characterisation, metallurgical test work will initially focus on producing a high-grade Rare Earth concentrate in order to improve the economics of the Mixed Rare Earth Carbonate production process. The possible separation and recovery of fluorspar, another critical raw material present in the ore at Monte Muambe, will also be assessed. Flotation test results are expected in Q2 2024.

Separation of the 15 Rare Earths present at Monte Muambe from their ore, with a focus on Neodymium, Praseodymium, Terbium and Dysprosium, is a complex process. Metallurgy is a critical component of rare earths projects development. Beside process design and costing, key outputs will also include products specifications to enable discussions with potential off-takers.
Posted at 06/11/2023 17:14 by the_price_is_right
These were ANR before they were REE. Same tired old drilling results and jam tomorrow BS.
Posted at 03/11/2023 17:10 by septblues
the price is right

or do you mean 10 months?

perhaps you need a new hour glass
Posted at 19/10/2023 06:47 by burtond1
A significant milestone for @AltonaRareEarth"We have networks so we are in a good position to identify and acquire new projects. We are constantly reviewing opportunities with very strict criteria"#REE CEO Cédric Simonet explains all to @TMSreach
Posted at 18/10/2023 08:20 by apotheki
Cedric Simonet, CEO of Altona, commented:

"For Altona, the Monte Muambe Scoping Study is a significant milestone. This key deliverable serves as an affirmative initial validation of the Project's economic viability, enabling the Company to establish its presence amongst other prospective REE producers in Africa. It provides, together with the Mineral Resource Estimate ("MRE"), a solid foundation for the Project's subsequent progression.

"As the Project moves into its PFS stage, the Company will continue to work towards de-risking Monte Muambe and, with its local partners, to optimise its technical, commercial and financial parameters. We believe the timing for this achievement is impeccable, at a time where the global rare earths supply chain is diversifying away from China's decades-long domination, and Western processing facilities are starting to come online.

"The magnet metals present at Monte Muambe (and representing 90% of the Project's future revenue) are critical components of the global green energy transition. The supply deficit for Neodymium and Praseodymium Oxide is forecast to grow to 90,000 tonnes per year by 2040(7) and, to allow the decarbonisation of energy sources, more magnet metals mines must come on stream in the following years.

"Altona intends to play its part in supporting this crucial agenda, by working in a responsible manner to reduce the dependence on China for critical mineral supplies."
Posted at 25/9/2023 08:57 by apotheki
Cedric Simonet, CEO of Altona, commented: "Monte Muambe's maiden MRE is an important milestone for us. This is the first ever official measure of the size and grade of the project and we are delighted with the results, which confirm the presence of a potentially open-pit mineable REE resource. The size is of the same order of magnitude as some of our published peers' ore reserve estimates and will be further increased through down dip drilling at both Target 1 and Target 4, as well as resource drilling at Target 3 and Target 9.

"The Company is now finalising its Scoping Study, which will give a first-pass economic viability overview of the project, to the highest standard."
Posted at 09/6/2023 07:50 by apotheki

(Ticker "REE")

Admission to Trading and First Day of Dealings

Board Appointments

Altona Rare Earths Plc (LSE: REE), a mining exploration company focused on the development of a significant Rare Earth Elements ("REE") mining project in Africa, today announces the admission of the Company's entire issued share capital to the Official List of the Financial Conduct Authority by way of a Standard Listing under Chapter 14 of the Listing Rules and to trading on the London Stock Exchange's Main Market for listed securities ("Admission").

Dealings in the Company's ordinary shares of 1 pence each ("Ordinary Shares") will commence at 8:00 a.m. GMT today, under the new ticker "REE".

The Company has raised gross proceeds of GBP2.0 million through the issue of 40 million new Ordinary Shares at 5 pence per share through an oversubscribed placing of GBP1,677,300 and a subscription of GBP322,700.

On Admission, the Company will have 82,403,199 Ordinary Shares in issue. The ISIN number is GB00BFZNKV91 and the SEDOL is BFZNKV91.

Board Appointments

Mr Simon Charles (aged 52) has been appointed as an Independent Non-Executive Director with immediate effect. Simon is a solicitor and is a Senior Partner at City solicitors Marriott Harrison LLP, having joined the firm in 2004. He specialises in company law, with a particular emphasis on acquisitions and disposals, directors' duties, equity and debt fundraises and shareholders' rights, in each case in relation to private and public companies. He has previously worked at Dechert LLP and a US law firm in the City. Immediately prior to joining Marriott Harrison LLP he spent a number of years in the corporate finance department of Numis Securities Limited where he advised private and public companies on debt and equity fundraises, acquisitions and restructurings.

Simon will be Chairman of the Compliance Committee, as well as Chairman of the Audit and Nominations committees.

As announced on 1 June 2023, Cédric Simonet has been appointed as Chief Executive Officer and Louise Adrian has joined the board as Chief Financial Officer with immediate effect.
Altona Rare Earths share price data is direct from the London Stock Exchange

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