11 October
2022
ALTONA RARE EARTHS
PLC
(“Altona” or “the Company”)
UPDATE ON LSE
LISTING
Altona (AQSE: ANR.PL), a mining exploration company focused on
the investment and development of Rare Earth Elements (“REE”)
mining projects in Africa, is
pleased to provide an update to shareholders.
The Company continues to work closely with its advisers to
complete its admission to the Standard Segment of the London Stock
Exchange. The Board anticipates this process should be completed in
the coming weeks.
Christian Taylor-Wilkinson,
Chief Executive of Altona, commented, “Although the listing
process has taken far longer than anticipated, we are hopeful that
we are entering into the final stages of the process with the
FCA.
“Importantly for Altona and its shareholders, we have been
making significant operational progress at our rare earths project,
Monte Muambe. This work as taken place in the period since we made
the decision in early 2021 to transfer our listing from AQSE to the
LSE. The board firmly believes that the potential of Monte Muambe
to become an important part of the global rare earths supply chain,
justifies the time and cost taken to complete the LSE listing.
“Should the results of our Scoping Study and Preliminary
Economic Assessment be positive, which we expect them to be when
they are published in Q1 2023, we will be looking to fast-track
Monte Muambe through its Feasibility Study and into production, in
order to meet the rising global demand for rare earth metals.”
For more information on Altona and its current mining projects
please visit: www.altonaRE.com
-ends-
Altona Rare Earths Plc
Christian Taylor-Wilkinson, Chief
Executive
+44 (0) 7795 168 157
Martin Wood, Non-Executive
Chairman
+44 (0) 7880 787 080
Alfred Henry Corporate Finance Ltd (AQSE Corporate
Adviser )
Jon Isaacs / Nick
Michaels
+44 (0) 20 3772 0021
Optiva Securities (Broker)
Daniel
Ingram
+44 (0) 20 3411 1882
About Altona Rare Earths Plc
Altona is a mining exploration company focused on the
evaluation, development and extraction of Rare Earth Element (REE)
metals in Africa. It owns a REE mining project in
Mozambique; the Monte Muambe
Project, a significant Light REE mining project in the northwest of
the country. Resource Drilling commenced in April 2022 and it will publish a maiden Resource
Estimate, PEA and Scoping Study in Q1 2023. The Company is in the
process of investigating other REE opportunities in Africa.
.