REG - Altona Rare Earths - OTCQB Listing and Company Update

Altona Rare EarthsAnnouncement

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RNS Number : 2157X  Altona Rare Earths PLC  19 March 2026

19 March 2026

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

OTCQB listing, strategic and operational update

 

Altona Rare Earths plc (LSE: REE), the critical raw materials exploration and
development company focused on Africa, is pleased to announce that its
ordinary shares have been approved for cross-trading on the OTCQB Venture
Market in the United States ("OTCQB"). Trading is set to commence on 19 March
2026 under the ticker ANRCF.

 

This dual quotation on a recognised US platform for growth companies is a
direct and strategic complement to the Company's recent $1.875 million grant
from the U.S. Trade and Development Agency ("USTDA"). Together, these
milestones forge a direct pathway to engage with North American capital and
strategic partners, significantly enhancing the Company's profile within the
world's largest and most vibrant critical minerals market.

 

OTCQB Listing: A Catalyst for US Engagement

 

The Board believes that admission to the OTCQB will be a key driver in
broadening and diversifying the Company's shareholder base. By providing the
same ease of access for North American institutional and retail investors as
exists in the United Kingdom, this cross-trading facility is designed to
enhance liquidity and increase Altona's visibility among potential partners
seeking exposure to independent, secure sources of critical minerals,
including rare earths and gallium. The Company's primary listing on the London
Stock Exchange Main Market (ticker: "REE") remains unchanged, and existing
shareholders are not required to take any action.

 

Strategic Alignment with the United States

 

Following the USTDA grant, the OTCQB quotation crystallises Altona's strategy
to position itself at the heart of the United States critical minerals supply
chain initiative.

 

The Board believes that the USTDA grant and the OTCQB quotation significantly
strengthen the Company's position to pursue strategic opportunities within the
United States rare earths and gallium industry, as part of its broader
strategy to maximise the value of its critical minerals assets and contribute
to the development of a diversified global supply chain. This strategy is
further supported by clear and tangible policy actions by the United States
government, as well as by the current geopolitical environment and by
strengthening market fundamentals for rare earth elements and gallium.
Neodymium and praseodymium oxide prices have increased by over 50% since the
beginning of the year and by over 100% year-on-year, and gallium prices have
recently reached historical highs.

 

Possible growth opportunities for Altona could include processing, separation,
magnet manufacturing and other value-added activities that support the
development of a resilient and responsible Western rare earth and gallium
supply chain.

 

Accordingly, over the coming months Altona intends to actively pursue and
evaluate potential partnerships, including upstream consolidation
opportunities as well as integration with mid-stream and downstream
participants in the United States rare earths and gallium value chains. The
Company will report to shareholders as this strategic workstream progresses.

 

Monte Muambe Operational Update: Derisking and Expanding Value

 

The majority of the fluorspar and gallium assay results from the 2025 drilling
campaign at Monte Muambe have been received. Mineral Resource Estimate
preparation work is underway. Concurrently, metallurgical test work for
fluorspar extraction is progressing in South Africa.

 

Following the receipt of consistent gallium results from the 2025 drilling
campaign, the Company has initiated metallurgical test work for gallium
extraction and recovery. Representative samples have now been dispatched to
laboratories for testing of automated ore sorting beneficiation and
hydrometallurgy extraction methods.

 

Cedric Simonet, CEO, commented: "The rapid approval of our OTCQB listing is
not just an administrative milestone; it is a pivotal moment that anchors
Altona deeper within the US critical minerals ecosystem. When combined with
our USTDA grant, it provides us with a powerful, two-pronged platform to
engage with American capital and strategic partners.

 

"The current geopolitical and market environment - substantiated by surging
rare earth and gallium prices - is exceptionally favorable for creating value
through supply chain consolidation and integration. The consistent progress at
Monte Muambe, particularly the rare earths and the new gallium work stream,
strengthens Altona's position as a contender for these strategic
opportunities. Maximising this position will be our primary focus in the
coming months as we look to accelerate the Company's growth trajectory."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

-ends-

 

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

 

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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