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Altona Rare Earths PLC - Africa-focused resource exploration and development - Raises total £507,450, via subscription of £407,450 and a warrant exercise notice of £100,000. Subscription price 2.965 pence per share. Proceeds will be used to fund the activities at Monte Muambe to advance the fluorspar scoping study, including resource drilling and advanced metallurgical work. Funds will also support the Sesana Copper-Silver project through environmental permitting, as well as initial geophysical surveys. They will also be used to continue assessing the recent Gallium discovery and to secure a strategic partner for the development of the Monte Muambe rare earths project. The board continues to seek additional, alternative funding sources, including proposed strategic investments at project level through equity, debt, grants, or pre-payments in the context of off-take agreements.
Current share price: 1.61 pence, closed up 3.9% in London on Friday
12-month charge: down 11%
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