Altona Rare Earths Lists on the LSE Raising £2M to Complete Scoping Study at Monte Muambe #REE

StockBox

10.8K subscribers

ShareSubscribe

Altona Rare Earths lists on the LSE. The company raised £2 million in the listing, which was oversubscribed. Immediate plans for the funds include completing a mineral resource estimate and a scoping study. They will also start work on a Pre-Feasibility Study (PFS) and engage in exploration activities. The focus for the remainder of the year is primarily on the Monte Muambe project, with activities such as drilling and conducting baseline studies for the Environmental Impact Assessment. The company anticipates a PFS completion time of 18 months and the funds raised will cover expenses for the next 12 months.