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Altona Energy ( (GB:REE) ) just unveiled an update.
Altona Rare Earths Plc announced its interim results for the six-month period ending December 31, 2024, highlighting significant progress in its projects across Africa. The company secured a 25-year mining license for the Monte Muambe project in Mozambique and signed a final agreement for the Sesana copper-silver project in Botswana. Altona is advancing its fluorspar production potential at Monte Muambe and continues to focus on metallurgical testing for rare earths recovery. Financially, the company reduced its loss compared to the previous year by tightening corporate costs and focusing on operational priorities, while also converting a portion of its loan notes into equity.
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 significant operations in Mozambique and Botswana. Altona is actively diversifying its portfolio to include low-cost, high-potential assets for short-term monetization.
YTD Price Performance: -20.0%
Average Trading Volume: 518,659
Technical Sentiment Signal: Strong Buy
Current Market Cap: £1.96M
See more insights into REE stock on TipRanks’ Stock Analysis page.