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ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)
LSE LISTING UPDATE
Altona (AQSE: ANR), a Rare Earths mining company focused on the discovery and development of rare earth mine projects in Africa, is pleased to update shareholders following the FCA’s Policy Statement PS21/22 (“Policy Statement”), issued on 2 December 2021.
As a result of the Policy Statement, from 3 December 2021, all companies seeking to list premium or standard listed shares must have a minimum market capitalisation (“MMC”) of at least £30 million, increased from the previous threshold of £700,000.
However, as Altona has already made a completed submission to FCA for a listing eligibility review prior to the publication of the Policy Statement, the Company is able to take advantage of the transitional provisions in the Policy Statement (“Transitional Provisions”). Under the Transitional Provisions, companies can apply for a listing based on the previous MMC of £700,000 provided they have applied to list by 2 June 2023.
Altona is therefore continuing with its application for admission to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules) and to trading on the ’s Main Market for listed securities (“Admission”), which it hopes to complete in the first quarter of 2022.
The Company further announces that it has appointed Novum Securities Limited as its Financial Adviser for the Admission process.

As part of the joint venture, AMR will nominate a candidate for consideration as a Non-Executive Director of Altona.

A key part of the Chambe project is its ongoing relationship with the local community. Therefore, a dedicated Community Engagement Programme is currently being run, where members of the joint venture will meet with a number of village leaders and the local communities over a four day period between 18 and 21 October. The initiative is two-fold, firstly to explain the rational and benefits of the Chambe project to the Mulanje region, and secondly, to distribute Covid-19 prevention measures, such as face masks, hand sanitisers and washing stations.

Altona’s justification for this second acquisition in the rare earths sector is due to the rapid expansion of new energy sectors and the increasing, global demand for electric vehicles and wind powered electricity, which is driving demand for neodymium, praseodymium and other REE “technology” metals which are used in the manufacture of permanent magnets, a key component. It has been widely reported that many manufacturers and governments are looking for alternative REE supplies outside China, which has controlled the supply for the past several years.

Christian Taylor-Wilkinson, Chief Executive of Altona Rare Earths, commented, “We are delighted to have agreed the acquisition of the Chambe Rare Earths Project. By adding an Ionic-Clay rare earths project to our portfolio of assets, it delivers two probable benefits: firstly, it gives us access to REEs not typically found in carbonatite formations, as is currently being explored at our Monte Muambe project, and secondly, it enables us to realistically look at entering into production of rare earth metals in a timeframe much shorter than carbonatite REE projects afford.

“We look forward to working closely with our new partners at Akatswiri Mineral Resources in developing this important rare earths project.”

Altona Rare Earths Plc - Acquisition of Chambe Rare Earths Project PR Newswire
21 October 2021

ALTONA RARE EARTHS PLC

(“Altona” or “the Company”)

AGREEMENT TO ACQUIRE CHAMBE

RARE EARTHS MINING PROJECT

Altona (AQSE: ANR) is pleased to announce it has entered into an agreement to acquire an initial 51% interest in the Chambe Rare Earths Project (“Chambe”) in Malawi, through a joint venture agreement with Akatswiri Mineral Resources Ltd (“AMR”). Chambe is held under exploration licence EPL 0594/20 which was granted on 9 September 2021 and valid until 6 September 2024, with an option to renew. The tenement covers an area of 128 km2 in the Mulanje region of Southern Malawi.

Chambe is a large, weathered ionic adsorption clay-hosted (“Ionic Clay”) Rare Earth Elements (“REE”) project which contains kaolinitic soils which could lend itself to carrying bulk REE deposits. Historic exploration work was carried out on the site between 2009 and 2014, confirming the presence of mineralised Rare Earth Oxide clays, similar to many of the larger, high-value Heavy REE mines in China. Analysis of samples from 2010 show the soils contain from 475 to 739 ppm total REE, including the key Neodymium and Praseodymium (NdPr) metals. The benefits of extracting REE from shallower ionic clay deposits include lower operating and capital costs, as well as shorter times for development.

The project will be run through Akatswiri Rare Earths Ltd (“ARE”), into which the exploration licence is in the process of being transferred. The acquisition is subject to government regulatory approval as is standard when transferring the ownership of a licence.

An initial payment of 1 million Altona shares will be made immediately and will be held in escrow by the Company’s Malawian lawyer, until such time as the licence is transferred from AMR to ARE. Simultaneously, Altona will immediately receive 51% of the issued share capital of ARE.

Altona can increase its interest in ARE to 70%, subject to the fulfillment of work and expenditures commitments, as well as payments over the course of the project by Altona to AMR, including 5 million Altona ordinary shares, paid over three tranches. The Company will bear 100% of the project costs up to completion of Phase 3 and holds a majority position on the board of ARE. The total cash expenditure in respect to the purchase of Chambe is expected to be approximately £200,000.

The planned work programme commitments are as follows:

Phase 1: Orientation drilling on three targets – Chambe and two smaller geologically important areas, Linje and Lichenya. Includes test pitting, in-situ permeability testing and basic metallurgical testing. This work is expected to commence in November 2021.

Phase 2: JORC compliant Resource Estimate – will include a scoping study for a rare earths production operation

Phase 3: Bankable Feasibility Study

Phase 4: Development of a Mining Facility

As part of the joint venture, AMR will no

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.”

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.

It’s difficult to know. The sooner we get off Aquis the better. This is a belter of a share. A hidden gem. Congrats to anyone that has bought here recently. You are either well researched, clever or lucky. Or a combo! This really could fly. So few investors know this company exists. If the AIM investor crew knew about it this would be 5x already. Just hold and accumulate. Fingers crossed!

Great news. Mkango is a keeper! Rainbow too.
Have you checked out Altona Rare Earths on Aquis?
2 million market cap. It's so under the radar.
These 3 Rare Earth plays are hot hot hot. GLA

This is huge. I sold a few shares in a few different stocks to load up here on the belief that this will become the next Mkango or Rainbow. No reason why this cant climb up to be a 100 million cap company by end of next year. That's 50x. Next stop 10 million that's 5x and should be there upon the shift to main list imo. I have since seen the stocks i sold double which is irritating but i know this one is a once in a year find that could, and should be massive. Pay off the mortgage time. Fingers crossed!!! The Aquis fees and spread and time waiting on the phone to buy are more than irritating, but it will be worth it.

This deal will be huge if it gets signed.
Be patient.
Everything in business is taking forever right now.
Let’s look on the bright side?
The more negativity on this BB the less likely people will buy the shares, so we all suffer. Particularly if the deal involves equity at a price worked out at a moving average.
The constant complaining on here is desperate. Yes I am sitting at a loss too. But only if I sell. And the MMS are not having my shares.
A deal will be done. Maybe weeks, maybe months.
I don’t care. When it does, this will be a massive bagger at this low market cap. Hold.

8 March 2021
ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)
APPOINTMENT OF NON-EXECUTIVE DIRECTORS

Altona (AQSE: ANR.PL), a mining exploration company with a focus on Rare Earth Elements (“REE”) mining projects in Africa, is pleased to announce the appointment of two highly qualified Non-Executive Directors, with immediate effect.

Audrey Mothupi, aged 50, is CEO of South African based SystemicLogic Group, a global financial innovation, data and technology disruptor, specialising in emergent business models. Her extensive knowledge of the African markets enables her company to deliver tailor-made solutions, providing strategic direction and strong corporate relationships. Prior to joining SystemicLogic, Audrey was head of inclusive banking at Standard Bank Group, where her division in 2013 was awarded the BAI-Finacle Global Banking Innovation Award for innovation in societal and community impact.

Audrey serves as independent Non-Executive Director on the boards of Pick ‘n Pay, Life Healthcare Group and Arden Capital, all in South Africa. She is the Chairperson of Roedean School (SA) and was Chairperson of Orange Babies of South Africa, as well as sitting on the boards of Nordic Female Business Angel Network and the Numeric Board of South Africa. Audrey is a Fellow of the African Leadership initiative, a member of the International Women’s Forum (IWF) and has been named one of Africa’s 1,000 most powerful women. Audrey has over 18 years of business experience.

Simon Tucker, aged 50, is an experienced international businessman who is currently CEO of AIM listed SRT Marine Systems PLC, Chairman of Tan Delta Systems Limited and an investor/shareholder in various other early and mid-stage private companies. He has been a Director of SRT since 2002, taking on the CEO role from 2012. SRT is emerging as a global leader with first mover product and market development advantage in the provision of large scale maritime surveillance systems with government and commercial customers around the world. Simon brings 25 years of international business experience, particularly business development and deal structuring in developing countries, 15 years of City PLC management experience and a significant network of contacts.

Christian Taylor-Wilkinson, Chief Executive of Altona, commented, “It is with great pleasure that we welcome both Audrey and Simon to the Board of Altona. Their established international business networks, deal making and negotiation skills will be of significant value as we progress the many projects we already have under evaluation towards a successful and robust outcome.”

8 March 2021
ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)
ISSUE OF EQUITY
Further to the RNS of 29 January 2021, Altona (AQSE: ANR.PL), a mining exploration company with a focus on Rare Earth Elements (“REE”) mining projects in Africa, announces it closed its Placing at £541,000 (before expenses).
The Company has now issued a further 4,852,313 new ordinary shares (“the Placing Shares”) at 6.5 pence, in respect of a further £315,400 received, in addition to the 2,587,909 Placing Shares issued on 29 January.
The Company is still waiting on a final receipt of funds from the Placing, of around £57,500, which it has received signed subscription letters for and expects before the end of March.
Further, as a correction to the RNS of 29 January with regards to the issue of shares in lieu of payment for services provided to the Company, it has in fact issued 1,669,385 new ordinary shares at 6.5 pence instead of the previously reported figure of 1,814,385 shares.
In conjunction to the Placing, the Company has issued 4,537,315 half warrants at a price of 12p, which carry an expiry date of 31 March 2023.

I still think it can more than 10 bag.
But we need patience.
It’s not a straightforward deal....is it ever?
I am down on my investment, but I wasn’t here to flip it and make a quick buck. This is a calculated risk. If nothing happens with this deal we are valued at cash (more or less) and another deal will be done.
If the deal goes through its boom time.
Let’s leave the BOD to do their job and not get too stressed about it. It may be weeks more before we hear anything.....

Altona Rare Earths Plc - Appointment of Broker PR Newswire
2 March 2021
ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)

APPOINTMENT OF BROKER

Altona (AQSE: ANR.PL), a mining exploration company with a focus on Rare Earth Elements mining projects in Africa, is pleased to announce the appointment of Optiva Securities Ltd (“Optiva”) as broker with immediate effect.

The Company has appointed a broker at this time, in-line with its planned application to the Standard market, where it will look to raise new funds for the rare earths mining exploration work it is committed to. The Company is hopeful that the LSE listing will take place in Q2 2021.

Christian Taylor-Wilkinson, Chief Executive of Altona Rare Earths, commented, “We are delighted to welcome the team at Optiva to act as Altona’s broker in this crucial stage of our development. We believe that Optiva fully meets the requirements of the Company and we are looking forward to working closely with them to obtain the levels of funding we require to execute our rare earths mining strategy in Africa.”

Old name: Altona Energy plc
New name: Altona Rare Earths plc
Meeting date: 26th February 2021

Altona Energy plc is proposing to change its name to Altona Rare Earths plc, subject to shareholder approval at the meeting to be held on 26th February 2021.

The effective date has not yet been announced however, if approval is granted, the change of name should take effect soon after.

I agree, it looks like Covalent Energy have fingers in a lot of pies, and they could easily be working on reversing one of the companies/assets they are working with into MMM. Very very exciting and will easily instantly double or triple the share price on solid news imo. Assuming its an exciting play this should then multibag again from that point with such a low market cap. There is way too much action going on here with substantial shareholders/director news for there not to be something big coming.

Colonel, nothing to be concerned about.
This is just paperwork, and nothing bad will happen to any of our shares.
Huge deal being signed, and all the major shareholders will have voted yes for all the resolutions already or on the day at the end of the week i am sure.
Relax and watch the share price go up this week and up some more as we get closer to the deal being officially signed in the coming week or month. The deal that is at our finger tips really is a big deal for us and we should see the share price go up considerably/in multiples when it is done.
It will however be nice to get beyond the AGM/EGM this week so that we can fill the BB with positive excitement about the deal and not focus on the resolutions.

So many delays across Australian mining sector with technical results from surveys and assay results. With Perth shutting down last week as well and a back log of work everywhere, i think any timeline for anything like this is being stretched. News will come as you say, and it will be worth the wait!!

I think all the talk about the upcoming vote is holding this back.
As for the vote, i know its important (i voted in favour too), but we will smash through the 33% needed. Its really not an issue.
What kind of a shareholder of size wants to hold shares that they cant trade? No one does.
As soon as this noise is behind us, this will immediately re-rate back up to a range of 2.5 to 3.
With the deal about to be signed, in the days before we then climb above 3 to 3.5.
Deal signed, its easily into the 5-6 range imo. The more exciting the deal the higher we go in the coming weeks.
From todays price this is an easy multi bag as we tick off the to do list.

I think this looks great! Cant see it being anything but exciting. This kind of activity doesn't happen without a deal lined up and an investment being made/acquired/reversed into etc
As for TR1's being filled in.....shareholders don't fill in TR1's. The shareholders are under an obligation to notify the company of changes to their shareholding when they are above the threshold. Then the company has an obligation to notify the market.
With such a low market cap this could easily double or treble its share price on news.
Hopefully news is imminent, may be a few days plus, as a deal is signed off, but the news this week means it is close.
This is looking like an easy win for us shareholders.

If it was a leak, the trades would be bigger amounts. This is just general trading, and people looking at the clock and feeling the nerves kick in. IMO
Whatever happens, this share is going north in value. Be it today, Monday or next month.
Many amazing projects to make this a keeper.
Positive court case news when it comes will be incredible and a massive boost as well. Hope its today! Its all good.