15 October
2024
ALTONA RARE EARTHS
PLC
("Altona"
or "the Company")
Research
Note
Altona (LSE: REE), a resource
exploration and development company focused on critical raw
materials in Africa, announces that a new research
note has been published by Optimo Capital Ltd. It can be accessed
by using the following link:
https://www.optimocapital.co.uk/library-2
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This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended).
-ends-
Altona Rare Earths Plc
Cedric Simonet,
CEO
+44 (0) 7778 866 108
Louise Adrian, CFO
+44 (0) 7721 492 922
Novum Securities Ltd (Corporate
Finance)
+44 (0) 20 7399 9400
David
Coffman
Daniel Harris
About Altona Rare Earths Plc
Altona 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".
Rare Earths are a group of 17
chemical elements, many of which are critical to the World's
ongoing transition from carbon-based to renewable energies, and to
the defence and communication sectors.
The Company is currently developing
Monte Muambe, its flagship Magnet Rare Earths Project, 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. The Project is now at
Prefeasibility Study stage, with a focus on metallurgical testing
and process.
Altona is presently diversifying its
portfolio by acquiring a limited number of critical raw material
projects to complement Monte Muambe. The acquisition of the Kabompo
South copper project in Zambia and of the Sesana copper-silver
project in Botswana represents the first steps towards the
implementation of this expanded strategy.