29 April
2024
ALTONA RARE EARTHS
PLC
("Altona"
or "the Company")
APPOINTMENT OF COPPER
EXPLORATION CONSULTANT
Altona (LSE: REE), a resource
exploration and development company focused on critical raw
materials in Africa, is pleased to announce
that it has appointed David Catterall as a consultant, with a
special focus on the Company's Sesana copper-silver project in
Botswana, where he will work closely with Cedric Simonet, Altona's
CEO.
Mr Catterall, M.Sc., Pr. Sci. Nat.,
is a geologist with over 36 years' operational and field-based
experience in mineral exploration throughout Africa and Europe in a
wide range of commodities but specialising in structurally
controlled precious and base metals deposits.
He has worked on the Central Africa
Copper Belt in Zambia and the Democratic Republic of Congo and also
extensively on the Kalahari Copper Belt, both in Namibia and
Botswana. He has regional and district scale expertise and gained
first-hand working experience on several of the known deposits,
including on the Khoemacau Zone 5 Mine, which is located 25km from
the Sesana Project.
Cedric Simonet, CEO of Altona, commented:
"David is
considered as an expert of the Kalahari Copper Belt, where the
Sesana project is located, and we are delighted to have him on
board. His superior knowledge of the Kalahari Copper Belt will be
of immediate benefit to Altona as we are preparing this year's
exploration programme.
Copper prices have steadily increased in recent months, and
backed by both short-term and long-term supply concerns, this
commodity has become one of the most in-demand globally, leading to
a number of major M&A activities for the likes of Glencore,
Teck, BHP and Anglo American. The green energy transition is
expected to drive the copper demand increase over the next two
decades and beyond, and Altona believes it has entered the copper
market at the right time."
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-ends-
Altona Rare Earths Plc
Cedric Simonet,
CEO
+44 (0) 7778 866 108
Louise Adrian,
CFO
+44 (0) 7721 492 922
Christian Taylor Wilkinson, Business
Development
+44 (0) 7795 168 157
Novum Securities Ltd (Corporate
Finance)
+44 (0) 20 7399 9400
David
Coffman
Daniel Harris
Allenby Capital Ltd (Joint Broker)
+44 (0)20 3328 5656
Kelly Gardiner / Guy McDougall
(Sales)
Nick Athanas (Corporate
Finance)
Optiva Securities (Joint
Broker)
+44 (0) 20 3411 1882
Daniel
Ingram
About Altona Rare Earths Plc
Altona is a
resource exploration and development company focused on critical
raw materials in Africa. The Company is listed on
the Main Market of the London Stock Exchange with the ticker
"REE".
Rare Earths are a group of 17
chemical elements, many of which are critical to the
World's ongoing transition from
carbon-based to renewable energies, and to the defence and
communication sectors.
The Company is currently developing
Monte Muambe, its flagship Magnet Rare Earths Project, located in
Northwest Mozambique. The Project was acquired in June 2021, and
the Company has so far drilled over 7,800m, and
defined a maiden JORC Mineral Resource Estimate of 13.6 million
tons at 2.42% TREO. A Competent Person Report including the
Scoping Study for Monte Muambe was published on 18 October 2023.
The Project is now at Prefeasibility Study stage, with a focus on
metallurgical testing and process.
Altona is presently diversifying its
portfolio by acquiring a limited number of critical raw material
projects to complement Monte Muambe. The acquisition of the Kabompo
South copper project in Zambia and of the Sesana copper-silver
project in Botswana represents the first steps towards the
implementation of this expanded strategy.