REG - Altona Rare Earths - Block Listing Application

Altona Rare EarthsAnnouncement

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RNS Number : 5823X  Altona Rare Earths PLC  23 March 2026

23 March 2026

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

Block Listing Application

 

Altona Rare Earths plc (LSE: REE), the critical raw materials exploration and
development company focused on Africa, announces that it has applied for a
block listing of up to 100,000,000 ordinary shares of £0.01 each (the "Block
Listing Shares") to be admitted to trading on the Main Market of the London
Stock Exchange.

 

The block listing facilitates the Company to issue shares from time to time
upon the exercise of warrants and/or other share issuances, without needing to
apply for admission to trading each time shares are issued. This approach
reduces administrative time and costs for the Company.

 

No shares are being issued as part of this announcement.

 

Admission of the Block Listing Shares is expected to become effective on or
around 25 March 2026. Any shares issued under the block listing will be fully
paid and will rank pari passu with the Company's existing ordinary shares.

 

If warrants are exercised and/or new shares are issued, the Company's issued
share capital and total voting rights will be updated accordingly.

 

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

-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 Company has received a US$ 1.875 million grant from USTDA to advance the
rare earths project through the prefeasibility stage.

 

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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