20 August
2024
ALTONA RARE EARTHS
PLC
("Altona"
or "the Company")
CHAIRMAN APPOINTMENT and
RESULT OF GENERAL MEETING
Altona (LSE: REE), a resource
exploration and development company focused on critical raw
materials in Africa, announces that Simon
Charles has been appointed as the new Chairman of the Company, with
immediate effect.
Simon Charles is a solicitor and
senior partner at City solicitors Marriott Harrison LLP, having
joined the firm in 2004. He joined the board of Altona on 9 June
2023 as a non-executive director and has served as chair of the
audit committee and the compliance committee.
Results of General Meeting
The Company also announces that, at
the General meeting held earlier today, all resolutions were duly
passed.
Cedric Simonet, CEO of Altona,
commented: "Having worked closely with Simon for over a
year, I am delighted to see Simon step up as Chairman during a
transformative period for the Company."
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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 (Broker)
+44 (0)20 3328 5656
Kelly Gardiner / Guy McDougall
(Sales)
Nick Athanas (Corporate
Finance)
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.