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An announcement from Altona Energy ( (GB:REE) ) is now available.
Altona Rare Earths Plc has identified three large untested gallium soil anomalies at its Monte Muambe project in Mozambique, following a review of its soil sampling database. These findings suggest a more widespread presence of gallium than previously observed, potentially indicating higher grades of mineralization. The company plans further assessments, including in-fill soil sampling and reconnaissance drilling, to explore these anomalies. The discovery of gallium, which correlates with neodymium and praseodymium, could enhance the project’s value by potentially recovering gallium as a co-product during rare earths extraction, providing an additional revenue stream.
More about Altona Energy
Altona Rare Earths Plc is a resource exploration and development company focused on critical raw materials in Africa. Listed on the London Stock Exchange, the company holds projects in copper, fluorspar, and rare earths, with a significant focus on the Monte Muambe project in Mozambique. Altona is expanding its portfolio with acquisitions in Zambia and Botswana to complement its existing projects.
YTD Price Performance: -10.0%
Average Trading Volume: 631,243
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.25M
Find detailed analytics on REE stock on TipRanks’ Stock Analysis page.