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Just a matter of time here, guaranteed bags by the end of 2021 IMO, decent set of initial drill results and main market listing will catapult this.
Altona Rare Earths Plc - Drilling Programme Starts at Monte Muambe PR Newswire
13 October 2021
ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)
COMMENCEMENT OF DRILLING PROGRAMME
AT MONTE MUAMBE PROJECT
Altona (AQSE: ANR), a Rare Earths mining company focused on the evaluation and development of projects in Africa, is pleased to announce that exploration drilling has commenced at its Monte Muambe Project in Northwest Mozambique, in the Tete Province, to evaluate the asset’s value and potential.
Phase 1 drilling will entail 39 holes drilled for a total meterage of 3,000m, across six carefully selected Rare Earths targets. The programme is being divided as follows:
Diamond Drilling - 4 holes (one inclined and three vertical) for a total meterage of 550m, producing solid cores at 1m intervals
Reverse Circulation (“RC”) drilling - 35 holes (six vertical and 29 inclined) for a total meterage of 2,450m.
The objectives of the drilling programme are:
To improve the understanding of the geological model through repeating selected historic RC holes in Diamond Drilling.
To check the lateral extension of REE mineralisation encountered in historic RC holes.
To test four new targets selected by our geologist team based on available data and with a focus on areas with potential for deep weathering of carbonatites, which is known as an enrichment factor in carbonatite-hosted REE deposits.
Christian Taylor-Wilkinson, Chief Executive of Altona, commented, “Within three months of acquiring Monte Muambe, we have obtained all the necessary permits, assembled a world class team and now commenced a drilling programme at our first rare earths mining project. The first cores from the diamond drilling have been recovered and we will be posting updates on the Altona website over the coming weeks.”
Just grabbed a few more. great price.
listing to main market imminent.
dyor
ANR moves significantly on almost zero volume and looks completely mispriced at the current tiny £3.4M market cap which seems all the more ridiculous considering almost half is cash.
The LSE listed rare earth stocks are MKA, RBW and PRE and they have market caps of £44M, £71M and £164M, so even the cheapest has a market cap 13 times greater than ANR. They are of course all more advanced than ANR, however ANR's Monte Muambe project looks excellent with high grade, long length intercepts from surface which stack up very well against all of these company's deposits. I see no reason why ANR will not develop in a similar way as the resource is proved up over the next 18 months and other pending projects are added. The surge in rare earth prices only underscore the huge undervaluation here.
In my opinion, the erratic price moves and undervaluation are simply due to the listing on Aquis. Once ANR moves to the LSE investors will actually be able to buy the stock eliminating the eratic movements and closing the valuation gap. I think the board should ignore the threadbare pricing signal being sent by the Aquis listing and do the LSE IPO at a higher price that better reflects the assets and investor appeal of ANR. I you sell steak priced as hamburger, people will think it's rubbish. Start as you mean to go on.
In the meantime, I see this as a strong buy for anyone lucky enough to have access pre LSE IPO.
GLA
Doesn't make much sense to sell now, don't know what some people do for research, a bit like ordering your dinner in a restaurant and asking for the bill after one mouthful.
Premium placing at 14p, lots of cash in the coffers, microscopic market cap, high demand rare earths, excellent grades, super shallow, drilling starting very soon, move to LSE getting close and very very hard to buy on the dips ... yet numpties are selling nearly 15% under the placing price. Time to go do some research chumps.
Premium placing at 14p, lots of cash in the coffers, microscopic market cap, high demand rare earths, excellent grades, super shallow, drilling starting very soon, move to LSE getting close and very very hard to buy on the dips ... yet numpties are selling nearly 15% under the placing price. Time to go do some research chumps.
I see RBW and PRE are surging today. Is the rare earth sector about to turn? We're in an excellent position here. Drilling about to start. Second rare earth asset and LSE uplisting getting closer. Lots of cash in the bank and microscopic market cap. GLA
Yes, I bought 2x small amounts a while back as this share peaked my interest. Both times i bought 'blind' as i wasnt given a buy quote. Traded with ii.
The only problem I can see with this share is its listing on Aquis. As a result almost nobody knows about it and it's almost impossible to buy. Aquis is known to be illiquid and ANR only has 3 market makers which is only one more than the minimum on Aquis and as a result the shares are hyper illiquid. Moreover many investors won't be able to buy ANR through their broker as many do not offer Aquis stocks. Of those that do only a handful offer quote and deal so investors will be put off buying by having to phone up. Even if you are lucky enough to have access to quote and deal, try and buy more than a minusucule amount and watch it go no quote. In fact a lot of the time I can buy absolutely nothing.
All this however is about to change as ANR's LSE listing gets closer. As soon as listing occurs I'm expecting a lot of publicity. All investors will suddenly be able to buy the shares and once they take a look at the excellent rare earth project(s) and tiny market cap in relation to its LSE peers I'm expecting an avalanche of buying and the shares to re-rate considerably. Those of us that can buy at present levels are very lucky indeed.
The heights of Monte Muambe are calling. I'm in at base camp. GLA
This has 10-bagger written all over it.
I noticed. :D
If anyone can tell me be grateful, did the telegram group close?
With such a small market cap here this seems like an opportunity people are going to kick themselves they didn't notice it in the near future.
This company is going to fly when it moves to the main list. Its a right pain buying shares on Aquis, but worth the effort on this one!!!!
COMPLETION OF PLACING TO RAISE £1.25 MILLION
Altona (AQSE: ANR), a Rare Earths mining company focused on the evaluation and development of projects in Africa, announces it has raised, via a significantly over-subscribed placing, £1.25 million (before expenses) at a premium to the current share price.
The Company will issue a total of 8,842,820 new ordinary shares at an issue price of 14 pence per share, a 7% premium to the closing share price on 9 September 2021. The Company will also issue 83,333 new ordinary shares at 12 pence in lieu of fees to a service provider. The Company is issuing 4,511,078 warrants, on a basis of one warrant for every two shares purchased, with a strike price of 20 pence and an expiry date of 31 March 2023. This figure also includes 48,000 warrants, under the same conditions, issued to Optiva Securities as part of its fee in acting as broker to the Placing. 557,144 new shares, relating to subscriptions of four investors who have been allowed to defer payment until 8 October 2021, have not been issued at this time. Therefore, a total of 8,369,009 new ordinary shares has been issued.
BUSINESS UPDATE
The Company commenced groundwork operations at its Monte Muambe Project in Northwest Mozambique on 31 August, ahead of schedule, with the Project Manager and his team now in-situ. Exploration drilling is expected to commence before the end of September, in-line with strategy.
Finally, the Company is in the final phase of its application for a listing on the , Standard segment and will provide a further update when an admission date is known.
Christian Taylor-Wilkinson, Chief Executive of Altona, commented, “Demand for this placing significantly exceeded our expectations. These additional funds will enable us to both accelerate and expand our activities, to find and develop valuable rare earth mining assets in Africa, of which we already have one underway and several others under consideration.”
Admission and Total Voting Rights
Following this issue of 8,369,009 Shares, which will rank pari passu with the Company's existing Ordinary Shares, the Company’s enlarged share capital and total voting rights in the Company will comprise 30,034,999. The Company has no shares held in Treasury. This figure of 30,034,999 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
We should hear further details of the drilling plans at Monte Muambe this coming week as the company did say that they were planning on commencing field activities on 1 September.
A lot happening in the next few weeks I suspect leading up to the move to the main market.
I suggest that it may still be a good time to buy or top up.
Not long now, things going to get interesting here in September, can't wait for main listing
Given the immense difficulty in buying shares, the tiny market cap and great asset in a hot sector, I honestly believe they can and should do the IPO at a significant premium to the current SP. If they raised £2.5M at 25p the market cap would only be £8M, or they could raise £3.5M at 30p for a £10M market cap. Neither seems unreasonable given the sector and assets.
Given the immense difficulty in buying shares, the tiny market cap and great asset in a hot sector, I honestly believe they can and should do the IPO at a significant premium to the current SP. If they raised £2.5M at 25p the market cap would only be £8M, or they could raise £3.5M at 30p for a £10M market cap. Neither seems unreasonable given the sector and assets.
Only about a month to go before the company moves from Aquis to the LSE Main Market with a raise being made at the time to enable the company to acquire a second rare earth resource and quite probably a third, continue drilling at Muambe which is expected to commence around the time of the new listing if not before and have working capital for some time to come.
So all looking good
https://twitter.com/StirlingBridgeR/status/1425728548669726725?s=20
My mistake! Thanks. More than happy for a positive outcome!
Listing on MAIN MARKET NOT AIM.
Will have opposite effect, price will increase as will Mcap as they have successfully listed and raised cash for exploration.
Not listing on AIM - MAIN MARKET!
Definitely won't affect the price negatively, will in fact push it up as listed on main market and attracted more funds for extraction to get on with the job.
Bought up the remaining £3k. Can now sell £40K but even £10 to buy is NT
There will be a large dilution when listed on the LSE. Hope that wont affect the share price too much.
Huge spread but if you're buying it's for a long hold anyway, exciting times next couple of months.