7 August
2024
ALTONA RARE EARTHS
PLC
("Altona"
or "the Company")
BOARD
CHANGE
Altona (LSE: REE), a resource
exploration and development company focused on critical raw
materials in Africa, announces that Martin
Wood will step down as a Non-Executive Chairman of the Company
effective 10 August 2024, after 4 years on the
Board.
The Company will make further
announcements in due course with respect to the appointment of a
new Chairman.
Cedric Simonet, CEO of Altona,
commented: "On behalf of the Board and the executive
team, I want to extend our deepest thanks to Martin for his four
years of dedicated service to Altona, during which the Company
established itself as a critical raw materials exploration company,
and transitioned from the Aquis Stock Exchange to the Main Market
of the London Stock Exchange. We wish Martin the very best in his
future endeavours."
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended).
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-ends-
Altona Rare Earths Plc
Cédric Simonet,
CEO
+44 (0) 7778 866 108
Louise Adrian,
CFO
+44 (0) 7721 492 922
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
Vishal
Balasingham
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.