Altona Rare Earths Issues Shares to Conserve Cash

Altona Energy ( (GB:REE) ) just unveiled an announcement.

Altona Rare Earths Plc announced the issuance of new ordinary shares to directors and a service provider as part of cash conservation measures. This move, involving the issuance of 3,726,438 shares, aims to manage operational costs effectively while maintaining liquidity. The shares are expected to be admitted to trading on the London Stock Exchange, increasing the company’s total share capital to 166,742,304. This strategic decision reflects Altona’s commitment to financial prudence and operational efficiency, potentially impacting shareholder interests and market positioning.

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 Main Market of the London Stock Exchange with the ticker ‘REE’, the company holds projects in copper, fluorspar, and rare earths. Notably, the Monte Muambe project in Mozambique is at the Prefeasibility Study stage, with ongoing metallurgical testing for rare earths extraction. Altona is also expanding its portfolio by acquiring additional critical raw material projects, including the Kabompo South copper project in Zambia and the Sesana copper-silver project in Botswana.

YTD Price Performance: -20.0%

Average Trading Volume: 591,919

Technical Sentiment Signal: Strong Buy

Current Market Cap: £1.96M

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