RE: 26th Feb 2025 11:47 am RNS Publication of a Prospectus3 Mar 2025 13:28
A very useful Harena Resources article published on Vox Markets five days ago, which helps show what a huge investment opportunity this floatation could-should be; especially with the RTO being priced at just 3p per share (compared to CRES's 4p IPO price in 2021), giving an enlarged market cap. of only c. £12.4M.
Note that FCA approval has of course already now been received, with admission expected two weeks this Friday.
The shares should move to a swift premium to the RTO price of 3p, and buying in at anything close to that level looks like a bargain.
The shares are tightly held, and as news flows and awareness spread, this could move up very rapidly and strongly.
"Harena Resources all set to become London’s only listed ionic clay rare earths company
13:18, 26th February 2025
Alastair Ford
Vox Newswire
It’s only a matter of time now before rare earths company Harena Resources makes its debut on the London market.
The plan is for privately-held Harena, which had its genesis in Australia and holds assets in Madagascar, to take over cash shell Citius Resources (CRES).
FCA approval is pending, but is expected in the current quarter.
When the deal completes, Harena will have access to a market that’s more familiar and comfortable with African projects.
London’s investors, for their part, will get access to Ampasindava, an ionic clay rare earths deposit that’s already known to contain 699 million tonnes of ore grading 868 parts per million total rare earth oxides.
That JORC 2012 compliant resource estimate followed on from around US$20 million of spend on the project, undertaken by former owners. Amongst other things, work thus far completed includes 4,500 test pits and 359 drill holes. It’s also been established that negligible thorium and uranium are present in the deposit, meaning that processing with low impact salts ought to be relatively straightforward and the product saleable into the market.
The plan, once Harena gets listed, is to complete feasibility studies for the development of Ampasindava. Much of the groundwork for these studies has already been done, however, and it’s already clear that the project has a great deal going for it.
For a start, it’s strategically located on the north-west coast of Madagascar, right next to a port. This has the double benefit that when it comes to project development it will be easy to ship things in, and that when it comes to production, it will be easy to ship the rare earths out. What’s more, the process that Harena envisages using at Ampasindava uses salt water as its primary leaching agent – and that brings us onto another advantage the project has, its style of mineralisation. ..."
https://www.linkedin.com/company/harenaresources?trk=public_post_feed-actor-name