Member Info for SomersetUK

Of course not. They are going for non dilutive financing. They have always said that. Everything they have said and done has been about raising financing without dilution. The more gold they pour now, and the more progress they make the stronger the position they have to avoid issuing shares for finance. They do not need to. Suggestions like this on the board are unhelpful negative speculation.

Great news, great day, Robbie is a good man, and the assets here are huge.
Back to basics as people have been saying, sensible low cost stripping and mining, weekly gold pours.....and the rest will sort itself out. Such a low market cap still. Soooooo much to look forward to!
Keep up the great work GCAT!!!!

I agree. They are forcing the price down as there is a loan note/warrant seller who keeps dumping stock every day IMO.
They must have nearly finished. When they do, it will coincide with first gas and then the stock will climb back up. I disagree with the few negative comments on this board. I think this will be a solid earner, and just like UJO they will just keep on saying how much money has come in and it will grow and grow. Its a keeper.

Everything with the FCA is taking months not weeks at the moment. These delays are everywhere. I am waiting on 3 scenarios like this and each one has been 1-2 months later than we were told. Just have to be patient as irritating as that is.

When the Maiden JORC comes this share will move to next level big time.
So undervalued. A massive resource.
This is my number 1 stock in my portfolio for potential upside.
Could comfortably move through to 20-30 million market cap by year end. Even then it would be undervalued compared to its peers. Occasionally you get hidden gems on Aquis. Here is one of them and they are about to hit the big time and right now they are so under the radar. Come on Altona!!!

The shares will cease trading on Aquis (thank God) at the end of day today before the move to the LSE Main list!! Get them before they pop on relisting! Such a cheap entry point. Crazy low market cap and an amazing asset that should be valued by the market at list 5 times where we are now imo. Just compare all this to other rare earth stocks in the UK markets.

'Altona Rare Earths Plc (AQSE: ANR.PL), a mining exploration company focused on the development of a significant Rare Earth Elements mining project in Africa, today provides an update further to the announcement of 10 March 2023 where the Company stated it expected admission to trading on the London Stock Exchange (“Admission”) would take place at 8.00 a.m. on Monday 20 March 2023. The Company is still working with its advisers to finalise its prospectus for approval by the Financial Conduct Authority (“FCA”) and therefore Admission will not take place on the expected date. A further update will be provided once the date of Admission, currently expected to be towards the end of March 2023, is confirmed.
The Company also confirms that, as a first step in the transition process to the London Stock Exchange, its shares will cease trading on the AQSE Growth Market (“AQSE”) at 4.30 p.m. on Friday 17 March.'

With Jim Mellon being a big player here and him having taken a lot of stock at 28p and 35p in previous fundraisings, i am hoping we at least get offers in above those levels. I think its fair to have confidence that there is relatively good upside to be made here by getting in to Condor at this share price.

10 March 2023
ALTONA RARE EARTHS PLC
("Altona" or "the Company")
£2.0m Fundraise
Proposed Admission to Main Market and Withdrawal from AQSE
Altona Rare Earths Plc (AQSE: ANR.PL), a mining exploration company focused on the development of a significant Rare Earth Elements ("REE") mining project in Africa, today announces the Company has raised £2.0 million via an oversubscribed placing of £1,720,800 (the "Placing") and a subscription of £279,200 through the issue of 40 million new ordinary shares at 5 pence ("Issue Price") per share ("the Fundraise"). The Company announced on 2 February 2023 that it was seeking to raise £1.25 million in new capital.
The Fundraise is conditional on, inter alia, the proposed admission of its entire ordinary share capital to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities ("Admission").
The intended use of funds will include the completion of Altona's maiden JORC compliant Mineral Resource Estimate and a Scoping Study for the Company's flagship asset, Monte Muambe Rare Earths mining project ("Monte Muambe"), in northwest Mozambique, which is expected to be published in May 2023. This will enable the Company to increase its holding in Monte Muambe Mining Lda (which owns 100% of Monte Muambe) from 20% to 51%. The funds will also be used to repay certain creditors and general working capital purposes.
Subject to the approval of the Company's prospectus by the FCA, Admission is expected to become effective, and dealings in the Company's ordinary shares are expected to commence at 8.00 a.m. GMT on 20 March 2023, under the new ticker: "REE".
The Company will make a further announcement once FCA approval of the prospectus has been received.

Buzzcoin, isn't that 212k in lieu of monies owed to the Directors?
I think its a clever way to pay them what they are owed without using up a precious chunk of cash.
I am down 95% on my investment here. So i am hoping for the best. That 212k is a good thing, and should be viewed that way imo.

Doubt it. next week would be my guess. A company wont rush into putting out an RNS without extensive discussion with the board and lawyers. They want to get this more than right. They don't need to rush now as it's suspended. My guess would be mid next week.

Yup. £4million market cap is ridiculous.
When the dust settles this will multi bag.
Brilliant asset (s). And what ever the ounce per month number is, this is a gold producer that an investment company has just lent US$ 1 Million to. They did their due diligence and wouldn't take a risk. Follow the money. I bought in again today. Bargain basement pricing.

Quite right Mickey!
Good to have a positive post amongst the daily de-ramping we have to endure from a couple of posters who just won’t stop bashing this company.
Happy Friday!!!

I agree Mickey. All good news from now. Step by step. Great price to top up. Go GCAT!!

What financial peril Legalwolf?
The money that is being raised is to expand the mining operations and to then raise output.
As we know from previous announcements re ounces mined in the last 2 quarters and the cost of mining those ounces in previous statements, there is a healthy amount of cash flow and a decent margin as their AISC is actually quite good.
Yes you are totally free to post whatever you want.
But it is so negative.
There is a great asset here and once funding is sorted this will take off.
This is so undervalued it’s a steal at this price.
Once all the gossip, doom mongering and general negativity has been cleared this will move much higher.
It’s been the perfect storm here, but the clouds will clear.
I have now bought in 11 times and am still holding.
Why should the board say anything at the moment? Every time they do they get punished rightly or wrongly.
Let’s leave them alone to get on with it.
Raising money is hard at the best of times and a slow process. We almost had it sorted. And we wouldn’t have almost had it sorted if this wasn’t a stunning asset and a lot of gold in the ground near surface. It would not have got to midnight if this wasn’t the real deal.
Let’s calm down with the constant daily negative posting.

This was in an October RNS re pre payment for the lithium: 'The second tranche of US$2.5 million is anticipated to be advanced in Q1 2023 once the first sales have been made by the Company to Southern Jade Resources Pty Limited'
If this is true, then why do we need to raise and create such dilution now? Maybe i am missing something. But this raise announced today in repeated tranches at 3.75 p will hold this back for some time IMO.

8 August 2022

ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)

JORC COMPLIANT EXPLORATION TARGET ESTIMATE

HIGHLIGHTS THE GLOBALLY SIGNIFICANT SIZE AND GRADE POTENTIAL
OF
MONTE MUAMBE RARE EARTHS DEPOSIT

Altona (AQSE: ANR.PL), a mining exploration company focused on the evaluation, acquisition and development of Rare Earth Elements (“REE”) mining projects in Africa, announces that it has completed a significant milestone, where the Company has estimated an Exploration Target of up to 56.6 million tonnes at up to 1.65% Total Rare Earth Oxide (“TREO”) (in compliance with JORC1 2012) based on its ongoing exploration work.

This estimate is ahead of the publication of a JORC Mineral Resource Estimate, which is on track for Q1 2023 and it is Altona’s first independent review of the drilling results to measure both the estimated size of the resource and average grade.

HIGHLIGHTS

-Estimated total tonnage of up to 56.6 million tonnes at 1.65% TREO
-Including 11.5 million tonnes at 2.41% TREO, corresponding to a well-defined high-grade zone
-Monte Muambe on track to become a significant, high value project
-Maiden Resource Estimate expected publication date - Q1 2023 and,
-The project’s Preliminary Economic Assessment by Q2 2023

Amazing. This looks like a monster deposit indeed! So under the radar this company.
I am sure these results today will ensure a smooth and successful move to the main LSE list.
Can't wait for more news. Cant believe there hasn't been a single share trade today, on news this good? Bonkers.
I have 10% of my portfolio in this one. Its going to be a mega win over the coming few years. Strong Buy. Check out the RNS on Aquis anyone who hasn't read it.

I think it has all the ingredients to really fly.
I am also in Rainbow Rare Earths market cap £76 million, and Mkango market cap £40 million.
Yes they are both so much more advanced than Altona, but the potential here to grow from a market cap of only £3.6 million is very clear to me.
The move to LSE main list will be truly transformative as buying on Aquis is expensive, with limited trading access, and a pain. But i am very happy with my holding and have bought 3 times in the past 6 months.
Surely this one has to be a winner, right?
I expect it to move comfortably to a market cap of £10 million in the coming months even without any more substantial news.

Moving to main list later this month and today releasing these brilliant drilling results! Its a buy!

ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)
MONTE MUAMBE – PHASE 1 ASSAY RESULTS
SIGNIFICANT NdPr POTENTIAL

Altona (AQSE: ANR.PL), a mining exploration company focused on the evaluation, acquisition and development of Rare Earth Elements (“REE”) mining projects in Africa, is pleased to report the final Phase 1 assay results from Monte Muambe, its Light REE project in Mozambique.

SUMMARY

Phase 1 assay results show significant REE levels across multiple target areas
NdPr levels identified in significant levels
Individual intercepts with up to 7.24% TREO and up to 1.21% NdPrOx;
Out of the 6 targets drilled, 4 have significant REE mineralisation and warrant follow-up, 2 being new discoveries
NdPr are the key metals used in the manufacture of permanent magnets for the drivetrains for Electric Vehicles and Wind Turbines
Monte Muambe is a 4km diameter circular carbonatite intrusion located in Tete Province, Northwest Mozambique, held under Prospecting Licence 7573L. The Company commenced an initial drilling programme in October 2021, focusing on six target areas, drilling a total meterage of 590m Diamond Drilling (DD - 5 holes) and 2,541m Reverse Circulation (RC - 38 holes). The Company had 705 Diamond Drilling (”DD”) samples and 974 Reverse Circulation (“RC”) samples (including QAQC samples) assayed by Intertek in South Africa and Australia.

Significant Phase 1 intercepts are summarised below:

Hole ID From Length TREO% NdPrOx%
MM001 0 120.60 1.920 0.248
Including 17.54 12.15 2.759 0.317
Including 36.71 11.99 2.562 0.317
Including 61.71 27.53 2.731 0.318
Including 98.09 11.88 2.060 0.290
MM039 29.78 52.16 2.109 0.344
Including 36.43 2.11 3.586 0.668
Including 48.38 7.28 2.387 0.408
Including 70.85 10.04 4.044 0.594
MM039 96.5 2.54 1.937 0.274
MM040 38.92 1.52 3.237 0.753
MM040 57.4 26.3 2.409 0.378
Including 61.54 2.3 2.792 0.463
Including 64.17 2.88 3.869 0.545
Including 67.75 1.47 3.142 0.519
Including 72.69 1.53 4.091 0.535
MM040 89.88 0.72 3.843 0.639
MM040 106.75 15.25 3.245 0.441
Table 1 – Significant Intercepts – RC holes

Hole ID From Length TREO% NdPrOx%
MM002 51 12 0.954 0.134
MM003 19 12 1.993 0.300
MM005 27 30 1.444 0.352
MM006 24 15 1.261 0.331
MM021 28 68 1.646 0.251
MM036 3 18 1.205 0.263
MM037 61 9 1.714 0.418
MM042 0 16 1.507 0.369
MM042 37 15 3.306 0.462
MM043 0 32 1.895 0.323
Including 14 15 2.578 0.414
MM044 0 9 2.469 0.340
MM047 28 30 1.665 0.281
Table 2 – Significant Intercepts – DD holes

Note:

TREO% = sum of all rare earth oxide assay results including Yttrium

NdPrOx% = sum of Pr6O11 and Nd2O3 assay results

For more information, the JORC Table 1 report can be downloaded / viewed on the following link: https://wp-altona-2021.s3.eu-west-2.amazonaws.com/media/2022/05/JORC-Table-1-Altona-Rare-Earths-Monte-Muambe-Phase-1.pdf

I think there has been a seller for months who had a lot of equity in the vehicle used to go to market at 'readmission'.
This selling bears no reflection to the prospects of GCAT and is completeley unrelated to newsflow and events.
Its someone with a large position that was locked in for a long time who wants to cash out.
I took a small stake in the business at readmission and have now bought 6 times since.
This is a screaming buy. And so undervalued. When market sentiment turns, and this seller is finished, this will climb significantly. Hold on and keep adding IMO.