REG - Altona Rare Earths - Share Price Movement

Altona Rare EarthsAnnouncement

08/05/2026 07:00

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RNS Number : 5052D  Altona Rare Earths PLC  08 May 2026

8 May 2026

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

Share Price Movement

 

Altona (LSE: REE) (OTCQB: ANRCF), a resource exploration and development
company focused on critical raw materials in Africa, announces that, further
to the recently observed share price movements, the Board confirms that it is
not aware of any reason for this movement in the Company's share price.

 

The Board remains highly confident in the opportunities within the Monte
Muambe Project, as supported by the Mineral Resource Estimates announced on 5
May 2026.

 

Furthermore, the Board confirms that, further to the announcement dated 6 May
2026 entitled "Growth Capital Facility", the facility with Zeus has not been
utilised to date. The facility is intended to support the Company's growth
objectives for the benefit of shareholders, and no shares have been sold under
the agreement.

 

The Board further confirms that it is its instruction and expectation that any
future utilisation of the facility would be undertaken at or above a price of
4 pence per share.

 

 

-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, with an initial base-case mine life of 9.5 years
supported by the current MRE and significant potential to extend beyond 12
years subject to resource growth from the Kudu Southern Extension and other
targets. 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 believes that gallium
may be concentrated in fluorspar production tailings and is conducting
metallurgical testwork to investigate the possibility of its 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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