Harena Resources Strengthens Board with New Appointment

Citius Resources PLC ( (GB:HREE) ) has shared an announcement.

Harena Resources has announced the appointment of Stephen Weir as a Non-Executive Director, bringing extensive mining and finance expertise to the board. This strategic board change aligns with Harena’s goal to advance its Ampasindava rare earth project in Madagascar. Concurrently, Joe Belladonna will transition to General Manager of Business Development, focusing on growth strategies and funding initiatives, particularly in the US rare earth processing sector. These changes reflect Harena’s commitment to evolving its governance structure while maintaining strategic continuity, positioning the company to enhance its industry standing and stakeholder value.

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 Resources is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar, holding a 75% interest. The project is notable for hosting one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals. Harena is dedicated to sustainable mining practices, aiming to provide a reliable supply of critical minerals for global energy transition and military defense industries.

Average Trading Volume: 1,028,790

Technical Sentiment Signal: Sell

Current Market Cap: £5.28M

For a thorough assessment of HREE stock, go to TipRanks’ Stock Analysis page.