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The latest update is out from Altona Energy ( (GB:REE) ).
Altona Rare Earths Plc has mobilized a multipurpose drilling rig to its Monte Muambe site in Mozambique, aiming to explore fluorspar and gallium mineralisation. The company announced encouraging gallium mineralogy results, indicating a potential two-step pathway for recovering both fluorspar and gallium. The drilling program will support resource estimation and further geological data collection. Additionally, Altona plans to issue new shares to an existing shareholder as part of a warrant sacrifice agreement, with the shares expected to be admitted to trading on the London Stock Exchange. This operational update highlights Altona’s progress in advancing its projects and its strategic positioning in the critical raw materials market.
More about Altona Energy
Altona Rare Earths Plc is a London Main Market-listed exploration and development company focused on unlocking the value of critical raw materials across Africa. The company pursues a diversified strategy targeting assets with potential for near-term monetisation alongside long-term growth. Altona’s multi-commodity Monte Muambe Project in Mozambique hosts rare earths, fluorspar, and gallium mineralisation, and the company is actively seeking a strategic partner to advance the project. Altona also holds the Sesana Copper-Silver Project in Botswana, aligning with its growth strategy.
Average Trading Volume: 2,537,593
Technical Sentiment Signal: Hold
Current Market Cap: £3.92M
For an in-depth examination of REE stock, go to TipRanks’ Overview page.