REG - Altona Rare Earths - Botswana Copper Licence Acquisition Update

Altona Rare EarthsAnnouncement

18/07/2024 07:00

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RNS Number : 8372W  Altona Rare Earths PLC  18 July 2024

18 July 2024

 

ALTONA RARE EARTHS PLC

 

("Altona" or "the Company")

 

BOTSWANA COPPER LICENCE ACQUISITION UPDATE

 

Altona (LSE: REE), a resource exploration and development company focused on
critical raw materials in Africa, today announces that further to the
announcement on 4 July 2024, it has agreed with Ignate African Minerals Ltd to
extend the exclusivity period of the Sesana copper project binding option
agreement until 15 August 2024.

 

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).

 

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https://investors.altonare.com/announcements
(https://investors.altonare.com/announcements)

 

Altona Rare Earths Plc

Cédric Simonet,
CEO
+44 (0) 7778 866 108

Louise Adrian,
CFO
+44 (0) 7721 492 922

 

Novum Securities Ltd (Corporate
Finance)
+44 (0) 20 7399 9400

David
Coffman

Daniel Harris

 

Allenby Capital Ltd (Joint
Broker)
+44 (0)20 3328 5656

Kelly Gardiner / Guy McDougall (Sales)

Nick Athanas (Corporate Finance)

 

Optiva Securities (Joint
Broker)
+44 (0) 20 3411 1882

Daniel
Ingram

 

About Altona Rare Earths Plc

 

Altona is a resource exploration and development company focused on critical
raw materials in Africa. The Company is listed on the Main Market of the
London Stock Exchange with the ticker "REE". Rare Earths are a group of 17
chemical elements, many of which are critical to the World's ongoing
transition from carbon-based to renewable energies, and to the defence and
communication sectors.

 

The Company is currently developing Monte Muambe, its flagship Magnet Rare
Earths Project, located in Northwest Mozambique. The Project was acquired in
June 2021, and the Company has so far drilled over 7,800m, and defined a
maiden JORC Mineral Resource Estimate of 13.6 million tons at 2.42% TREO. A
Competent Person Report including the Scoping Study for Monte Muambe was
published on 18 October 2023. The Project is now at Prefeasibility Study
stage, with a focus on metallurgical testing and process.

 

Altona is presently diversifying its portfolio by acquiring a limited number
of critical raw material projects to complement Monte Muambe. The acquisition
of the Kabompo South copper project in Zambia and of the Sesana copper-silver
project in Botswana represents the first steps towards the implementation of
this expanded strategy.

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