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An announcement from Altona Energy ( (GB:REE) ) is now available.
Altona Rare Earths has raised £250,000 via a discounted subscription of 25 million new shares at £0.01 each, providing additional working capital to fund an expanded drilling programme at its Monte Muambe project in Mozambique and to process an increased volume of samples for geochemical assays, which are expected to support a larger fluorspar mineral resource estimate. The company also confirmed revised admission dates for previously announced warrant shares and said that, following the issue of the new subscription and warrant shares, its total issued share capital will rise to 321,864,306 ordinary shares, information that will guide investors’ disclosure obligations as Altona seeks to strengthen its resource base and reinforce its growth trajectory in critical minerals.
More about Altona Energy
Altona Rare Earths is a London Main Market-listed exploration and development company focused on critical raw materials projects across Africa, notably the multi-commodity Monte Muambe project in Mozambique, which hosts rare earths, fluorspar and gallium, and the Sesana copper-silver project in Botswana. The company aims to monetise near-term opportunities such as high-grade fluorspar production while advancing longer-term rare earths and gallium potential, positioning itself as a supplier to clean energy, high-tech, defence and industrial markets.
Average Trading Volume: 7,714,850
Technical Sentiment Signal: Sell
Current Market Cap: £3.79M
See more data about REE stock on TipRanks’ Stock Analysis page.