REG - Altona Rare Earths - Application to Trade on OTCQB Market

Altona Rare EarthsAnnouncement

24/02/2026 07:00

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RNS Number : 0851U  Altona Rare Earths PLC  24 February 2026

24 February 2026

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

Application to Trade on OTCQB Market

 

Altona Rare Earths plc (LSE: REE), the critical raw materials exploration and
development company focused on Africa, is pleased to announce that it has
applied for its ordinary shares to be admitted to trading on the OTCQB Venture
Market in the United States ( "OTCQB").

 

The Company has submitted its application for its ordinary shares to be quoted
on the OTCQB Venture Market, a recognised US trading platform for established
and developing companies. No new shares will be issued in connection with the
OTCQB quotation, and admission remains subject to the approval of the OTCQB
and the satisfaction of applicable listing requirements. The Company's shares
will continue to trade on the London Stock Exchange Main Market under the
ticker "REE".

 

Strategic Alignment with US Engagement

 

This application represents a natural and strategic step following the
Company's recent successful engagement with the US Trade and Development
Agency (USTDA). As announced on 9 February 2026, Altona received confirmation
of USTDA support for the Monte Muambe rare earths project, validating the
project's relevance to US critical mineral supply chains. The signature of the
grant agreement is expected to be imminent.

 

Enhancing Visibility and Access

 

The Board believes that admission to trading on the OTCQB will:

·    Provide North American institutional and retail investors with the
same convenience to invest as those in the UK

·   Increase the Company's visibility among North American investors
seeking exposure to critical minerals, particularly rare earths, as well as
potential strategic partners

·     Enhance liquidity and broaden the Company's shareholder base over
time

 

The OTCQB's reporting and listing requirements align closely with those of
major non-US stock exchanges, making seamless access straightforward for
London Stock Exchange Main Market companies such as Altona.

 

Next Steps

This application represents an initial but important step in a broader
strategic alignment with US partners and investors and the Board will continue
to develop and evaluate supporting growth strategies as it advances the Monte
Muambe rare earths project through its next phases of development.

Cedric Simonet, CEO, commented: "Our application to trade on the OTCQB follows
the positive outcome of our engagement with USTDA and reflects the growing
strategic alignment between Altona, our Monte Muambe project and US critical
mineral priorities. With this foundational step now complete, we believe the
momentum is right to begin strategically positioning the Company towards the
North American capital markets."

 

 

-ends-

 

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Altona Rare Earths Plc

Cédric Simonet, CEO                                                +44 (0) 7778 866 108 (cs@altonare.com)

Louise Adrian,
CFO
                   +44 (0) 7721 492 922 (la@altonare.com)

 

Strand Hanson (Financial
Adviser)
+44 (0) 20 7409 3494

Christopher Raggett

Imogen Ellis

 

Zeus Capital (Corporate
Broker)
                 +44 (0) 20 3829 5000

Simon Johnson

James Hornigold

 

About Altona Rare Earths Plc

 

Altona Rare Earths Plc (ticker: REE) is a London Main Market-listed
exploration and development company focused on unlocking the value of critical
raw materials across Africa. The Company is pursuing a diversified strategy,
targeting assets with potential for near-term monetisation alongside long-term
growth.

 

The multi-commodity Monte Muambe Project in northwest Mozambique is a highly
prospective tenement hosting rare earths, fluorspar, and gallium
mineralisation. Since acquiring the project in June 2021, Altona has drilled
over 7,800 metres, delivering a maiden JORC Mineral Resource Estimate of
13.6Mt at 2.42% TREO, secured a 25-year mining licence (granted December
2024), and published a Competent Person Report and scoping study for the rare
earths component of the project (October 2023). The US Government, via USTDA,
has announced its support to advance the rare earths project through the
prefeasibility stage and a grant agreement is expected to be formalized in
early 2026

 

In parallel, Altona is progressing plans to fast-track the development of
high-grade fluorspar veins identified along the western and southern margins
of Monte Muambe, with a targeted production of 50,000 tonnes per annum of
acid-grade fluorspar over a minimum 12-year mine life. Acid-grade fluorspar is
a key input in a wide range of applications, including hydrofluoric acid,
lithium battery electrolyte production, and nuclear fuel refining, placing
Altona in a strong position to supply this critical material.

 

The discovery of gallium mineralisation, with grades up to 550 g/t identified
to date, adds further value to Monte Muambe. The Company has established that
gallium will be concentrated in fluorspar production tailings and is assessing
its possible recovery as a by-product of fluorspar.

 

Altona's diversified portfolio also includes the Sesana Copper-Silver Project
in Botswana, strategically located just 25 km from MMG's Khoemacau Zone 5
copper-silver mine. Situated on a recognised regional contact zone for copper
deposits, Sesana represents a compelling exploration opportunity aligned with
Altona's growth strategy.

 

With a unique combination of critical raw materials projects, Altona is well
positioned to contribute to the global supply of highly sought commodities
essential for clean energy, high technology, defence and industrial
applications.

 

The Company and the Board remain actively focused on identifying and
evaluating additional projects that align with our investment profile and
strategic objectives, leveraging our extensive network and combined industry
experience to uncover compelling opportunities that can drive long-term
growth.

 

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