Altona Energy (REE) AI Stock Analysis

• Market Cap: £14.61M
• Dividend Yield: N/A
• Average Volume (3M): 9.20M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.29
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 11
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 374,682,300
• 10 Day Avg. Volume: 18,986,475
• 30 Day Avg. Volume: 9,200,058
• PEG Ratio: 0.05
• Price to Book (P/B): 5.76
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: 4.00p ▲(220.00% Upside)
• Action: Reiterated Date: 02/24/26
• Date: Action: Reiterated 02/24/26

The score is held back primarily by weak financial performance (no revenue, ongoing losses, sustained cash burn, and rising leverage). This is partly offset by strong technical momentum with the price well above major moving averages and a positive MACD. Valuation provides limited support due to negative earnings and no dividend data.

Positive Factors

Positive Equity Position

Maintaining positive shareholders' equity provides a solvency buffer and underpins the company's ability to access debt or equity financing without being balance-sheet insolvent. This structural cushion supports operational continuity and gives management optionality while turnaround efforts continue.

Improving Profitability Trend

Reported net loss narrowed in 2025 versus 2024, indicating early traction on cost controls or operational improvements. A durable trend of reducing losses, if sustained, lowers external funding needs and extends runway, improving prospects for executing strategic initiatives and de risking the path to commercialisation.

Lean Operating Footprint

A very small team implies a lean cost base that can meaningfully slow cash burn and preserve runway. Over a multi-month horizon this structural cost discipline enables the company to allocate scarce capital to priority development activities while limiting fixed-cost pressures as it seeks to reach revenue generation.

Negative Factors

Zero Revenue / Pre-revenue Profile

The absence of any reported revenue over multiple years means the business model has not yet been commercially validated. This structural gap makes margins and profitability projections speculative, forces reliance on financing, and elevates execution risk for converting development into sustainable sales.

Sustained Negative Cash Flow

Persistent negative operating and free cash flow—about -£1.0m in 2025 with deterioration—creates an ongoing need for external capital. This durable cash-burn dynamic restricts strategic flexibility, increases refinancing frequency, and raises the probability of equity dilution or restrictive financing terms.

Rising Leverage and Weakened Balance Sheet

Rapidly increasing leverage—driven by higher debt and falling equity—reduces financial resilience and increases servicing obligations. Structurally higher debt-to-equity constrains the company's ability to raise non-dilutive capital, heightens refinancing risk, and can force unfavorable financing or asset-sale choices.

Altona Energy Business Overview & Revenue Model

Company Description

Altona Rare Earths Plc, a mining exploration company, focuses on the evaluation, development, and extraction of rare earth element metals in Africa. It has interests in the Monte Muambe Rare Earths Project located in Mozambique. The company formerly known as Altona Energy Plc and changed its name to Altona Rare Earths Plc in February 2021. Altona Rare Earths Plc was incorporated in 2005 and is based in London, the United Kingdom.

How the Company Makes Money

Altona Energy Financial Statement Overview

Summary

Financials indicate a pre-revenue profile with persistent losses and cash burn. Income statement shows zero revenue and negative EBIT/EBITDA, cash flow remains negative (operating cash flow about -1.0m in 2025) with worsening free cash flow, and leverage has increased materially (debt-to-equity about 2.23 in 2025) despite still-positive equity.

Income Statement

Across 2020–2025 the company reports zero revenue and persistent operating losses. Losses remain sizeable in 2025 (net loss of ~0.9m; negative EBIT/EBITDA), although profitability improved versus 2024’s deeper net loss (~1.6m). Overall, the income statement reflects an early-stage/non-operating profile with no demonstrated ability to generate sales and sustained negative earnings.

Balance Sheet

The balance sheet shows positive equity in recent years, but leverage has risen sharply: total debt increased to ~1.23m in 2025 while equity fell to ~0.55m, pushing debt-to-equity to ~2.23 (up from ~0.61 in 2024 and ~0.13 in 2023). Returns on equity are consistently negative, signaling ongoing value dilution risk. A key positive is that equity is not currently negative (unlike 2020), but the trajectory points to weakening balance-sheet flexibility.

Cash Flow

Cash generation remains a clear weakness: operating cash flow is negative every year and was ~-1.0m in 2025 (similar to 2024). Free cash flow is also negative and deteriorated in 2025 versus 2024, indicating continued cash burn. While accounting losses and cash burn move broadly together, the sustained negative operating and free cash flow implies ongoing dependence on external funding.

Breakdown	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-37.00K	-40.00K	-24.00K	-5.00K	0.00
EBITDA	-809.00K	-1.46M	-1.21M	-796.00K	-729.00K
Net Income	-916.00K	-1.62M	-1.22M	-774.00K	-733.00K
Balance Sheet
Total Assets	1.95M	2.29M	2.73M	1.44M	457.00K
Cash, Cash Equivalents and Short-Term Investments	109.00K	392.00K	1.13M	283.00K	436.00K
Total Debt	1.23M	684.00K	256.00K	0.00	56.00K
Total Liabilities	1.51M	1.27M	849.00K	391.00K	321.00K
Stockholders Equity	552.00K	1.12M	1.98M	1.07M	136.00K
Cash Flow
Free Cash Flow	-981.00K	-1.25M	-1.11M	-1.63M	-528.00K
Operating Cash Flow	-981.00K	-987.00K	-648.00K	-832.00K	-528.00K
Investing Cash Flow	-164.00K	-368.00K	-505.00K	-875.00K	0.00
Financing Cash Flow	862.00K	617.00K	2.00M	1.55M	964.00K

Altona Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
REE	54 Neutral	£14.61M	-6.72	-114.83%	―	―	―
TYM	48 Neutral	£5.15M	-10.00	-44.38%	―	1.77%	33.33%
AYM	46 Neutral	£3.51M	-5.18	-4.75%	―	―	36.36%
SKA	45 Neutral	£4.19M	―	-25.13%	―	―	―
ALBA	43 Neutral	£5.16M	-0.65	-44.29%	―	―	―

Altona Energy Corporate Events

Altona secures USTDA funding and U.S. backing for Monte Muambe rare earths study

Altona Rare Earths has signed a grant agreement under which the United States Trade and Development Agency will provide US$1.875 million to fund metallurgy and process engineering work for the Monte Muambe rare earths prefeasibility study in Mozambique. The programme covers drilling for metallurgical samples, extensive processing and environmental studies, commercial assessments with potential U.S. off-takers, and an updated financial model, fully funding key de-risking workstreams alongside the company’s fluorspar development.

The partnership with the U.S. government is framed as both financial support and a strategic endorsement that aligns Monte Muambe with American critical minerals priorities and supply chain security goals. Management says the collaboration strengthens Altona’s ambition to become a major Western source of magnet rare earths and complements its efforts to increase North American investor access through an application to trade on the OTCQB, potentially enhancing its industry positioning and appeal to stakeholders.

The most recent analyst rating on (GB:REE) stock is a Hold with a £2.50 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

Altona Rare Earths Raises Funds via Warrant Exercise to Advance Monte Muambe Studies

Altona Rare Earths has received notices from existing shareholders to exercise 4,333,333 warrants at 2 pence per share, resulting in the issue of an equal number of new ordinary shares and raising £86,666 in cash. The proceeds will fund a fluorspar and gallium resource estimate and scoping study at its Monte Muambe project, supporting the company’s strategy to monetise critical raw materials.

Application has been made for the new shares to be admitted to trading on the Main Market of the London Stock Exchange, which will increase Altona’s enlarged share capital and total voting rights to 374,682,301 ordinary shares. The expanded capital base and targeted use of funds underscore the company’s drive to advance its African assets and strengthen its position within global critical minerals supply chains.

The most recent analyst rating on (GB:REE) stock is a Hold with a £2.50 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

Altona Rare Earths Targets North American Investors With OTCQB Move

Altona Rare Earths, a London-listed African-focused explorer and developer of critical raw materials, is building a portfolio centred on the multi-commodity Monte Muambe project in Mozambique, which hosts rare earths, fluorspar, and gallium, alongside the Sesana Copper-Silver Project in Botswana. With a maiden JORC resource, a long-term mining licence at Monte Muambe and plans to fast-track high-grade fluorspar production with potential gallium by-product recovery, the company aims to support global supply of inputs crucial to clean energy, technology, defence, and industrial sectors.

The company has applied for its ordinary shares to be admitted to trading on the U.S. OTCQB Venture Market, while retaining its primary listing on the London Stock Exchange, in a move aligned with recent U.S. support for its Monte Muambe rare earths project. Management expects that an OTCQB quotation will broaden access for North American investors, raise visibility among those seeking exposure to critical minerals, and over time enhance liquidity and diversify the shareholder base, reinforcing Altona’s strategic alignment with U.S. critical mineral priorities and capital markets.

This U.S. market push follows confirmation of backing from the U.S. Trade and Development Agency for Monte Muambe, underscoring the project’s relevance to American critical mineral supply chains. The board views the OTCQB step as part of a wider strategy to deepen partnerships and investor engagement in North America as the project moves through its next stages of development.

The most recent analyst rating on (GB:REE) stock is a Hold with a £2.50 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

Altona Rare Earths Raises Funds via Warrant Exercises to Advance Monte Muambe Studies

Altona Rare Earths, a London Main Market-listed explorer and developer of critical raw materials in Africa, is advancing a diversified portfolio spanning rare earths, fluorspar, gallium, copper, and silver. Its Monte Muambe project in Mozambique, which already holds a 25-year mining licence and a defined rare earths resource, underpins the strategy, alongside the Sesana Copper-Silver Project in Botswana.

The company has received exercises of 11,666,666 warrants, raising £208,333 to fund a fluorspar and gallium resource estimate and scoping study at Monte Muambe. The new shares, expected to be admitted to trading on the London Stock Exchange around 19 February 2026, increase Altona’s enlarged share capital and total voting rights to 370,348,968, modestly diluting existing holders while supporting the next phase of project definition.

The warrant exercises indicate continued shareholder support and provide incremental funding without a separate placing, allowing Altona to progress its plans to fast-track high-grade fluorspar development and evaluate gallium recovery as a by-product. This funding step helps the company refine its multi-commodity resource base, potentially enhancing the economic profile of Monte Muambe and reinforcing its positioning in the critical materials supply chain.

The most recent analyst rating on (GB:REE) stock is a Hold with a £2.50 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

Altona Rare Earths Reports High-Grade Fluorspar and Gallium Hits at Monte Muambe

Altona Rare Earths has reported strong initial assay results from its 2025 drilling campaign at the Monte Muambe project in Mozambique, with about 10% of samples processed so far. The company is receiving data from diamond drill holes in both the Fluorite and Python zones, confirming near-surface mineralisation that supports potential open-pit mining.

Significant intercepts show individual grades up to 82.76% CaF2 and 409 g/t Ga2O3, with a weighted average fluorspar grade of 31% CaF2, in line with commercial mining norms and Altona’s expectations. The remaining assays, due in the coming weeks, will underpin a mineral resource estimate for fluorspar and gallium, and management says the results, combined with strong investor interest seen at Mining Indaba, enhance the project’s potential and strategic appeal.

Monte Muambe, already hosting a JORC rare earths resource and backed by a 25-year mining licence, is central to Altona’s strategy to fast-track production of 50,000 tonnes per year of acid-grade fluorspar over at least 12 years while assessing gallium recovery from tailings. The latest drilling results reinforce the project’s role in positioning Altona as a future supplier of critical materials into sectors such as batteries, nuclear fuel and advanced technologies, with implications for investors seeking exposure to Africa’s critical minerals supply chain.

The most recent analyst rating on (GB:REE) stock is a Hold with a £2.50 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

Altona Rare Earths Raises Funds via Warrant Exercises and Interest Conversion

Altona Rare Earths has raised £450,000 through the exercise of 30 million warrants at 1.5 pence per share and converted £20,000 of interest on its remaining debt into 2 million new shares at 1 penny, reinforcing its balance sheet. The fresh capital will fund fluorspar and gallium resource estimates and a scoping study at its Monte Muambe project, while the share issuance lifts total voting rights to 358,682,302, modestly diluting existing shareholders but supporting the company’s push to advance its African critical minerals portfolio.

Application has been made for the 32 million new shares to be admitted to trading on the Main Market of the London Stock Exchange, with admission expected around 13 February 2026. Management framed the moves as evidence of growing market recognition of Altona’s strategy, signalling shareholder and lender confidence in the company’s efforts to monetise its critical raw materials assets and strengthen its position in the global supply chain for clean energy and high-tech inputs.

The most recent analyst rating on (GB:REE) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

U.S. backs Altona’s Monte Muambe rare earths project in Mozambique

Altona Rare Earths has secured an in-principle commitment of support from the U.S. Trade and Development Agency for its Monte Muambe rare earths project in Mozambique, underscoring the asset’s strategic importance in critical minerals supply chains. The backing, to be formalised through a grant agreement, is aimed at defining the technical and financial pathway to develop production of rare earth elements used in permanent magnets, defence systems, and energy transition technologies.

The USTDA move aligns with a wider U.S. push to reshape global critical minerals markets and build resilient supply chains through new initiatives, bolstering Altona’s positioning as a potential alternative source of rare earths and fluorspar. Altona also expects imminent assay results from a recent fluorspar and gallium drilling campaign at Monte Muambe, which it believes could confirm a standalone, commercially significant fluorspar project, further enhancing the project’s appeal to strategic and industrial stakeholders.

The most recent analyst rating on (GB:REE) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

Altona Rare Earths Pays Directors and Lender in Shares, Lifting Total Capital to 326.7m

Altona Rare Earths has issued 1,484,663 new ordinary shares to current and former directors in lieu of cash salaries and fees, and a further 3,333,333 shares to lender Catalyse Capital Limited as a £50,000 loan reprofiling fee, as part of ongoing cash conservation and balance sheet management measures. The combined 4,817,996 new shares, expected to be admitted to trading on the London Stock Exchange around 21 January 2026, increase Altona’s total share capital to 326,682,302 and modestly dilute existing shareholders, while aligning directors’ interests more closely with investors and providing additional flexibility as the company advances its African critical minerals projects.

The most recent analyst rating on (GB:REE) stock is a Sell with a £1.00 price target. To see the full list of analyst forecasts on Altona Energy stock, see the GB:REE Stock Forecast page.

Altona Rare Earths Raises £250,000 to Fund Expanded Drilling at Monte Muambe

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.

Altona Rare Earths Expands Drilling and Advances Strategic Initiatives

Altona Rare Earths Plc has completed an expanded drilling program at its Monte Muambe project in Mozambique, significantly increasing the drilled meterage by 70% due to positive results and new target discoveries. The company is progressing with USTDA engagements for rare earths prefeasibility study funding and plans to acquire new mineral assets in 2026, enhancing its strategic positioning in the critical raw materials market.