Harena Rare Earths Secures £2m Subscription and Updates Share Capital

An update from Citius Resources PLC ( (GB:HREE) ) is now available.

Harena Rare Earths has completed a £2m equity subscription following the admission to trading of 90,909,090 new ordinary shares on the London Stock Exchange’s Main Market. The fundraise strengthens the company’s capital base as it advances development of its Ampasindava rare earth project in Madagascar, a key potential source of critical magnet metals outside China.

Following the share issue, Harena’s issued share capital stands at 683,560,108 ordinary shares, all of which carry voting rights and none held in treasury. The updated share count provides the new denominator for investors required to calculate notification thresholds under UK disclosure and transparency rules.

Spark’s Take on GB:HREE Stock

According to Spark, TipRanks’ AI Analyst, GB:HREE is a Underperform.

Citius Resources PLC faces critical financial and technical challenges, with no revenue and poor market indicators dominating the outlook. While positive corporate events suggest potential upside, these factors are overshadowed by the company’s ongoing financial distress and negative technical trends.

To see Spark’s full report on GB:HREE stock, click here.

More about Citius Resources PLC

Harena Rare Earths Plc is a rare earths exploration and development company focused on the Ampasindava ionic clay rare earth project in Madagascar, in which it holds a 100% interest. The project hosts one of the largest ionic clay rare earth deposits outside China, with significant heavy rare earth magnet metals such as neodymium, dysprosium and praseodymium that are critical for neodymium magnets used in energy transition, defence and robotics applications.

Average Trading Volume: 1,429,211

Technical Sentiment Signal: Buy

Current Market Cap: £14.52M

Learn more about HREE stock on TipRanks’ Stock Analysis page.