Business
Monte Muambe Operational Update
Altona Rare Earths PLC has completed an expanded fluorspar-gallium resource drilling program at its Monte Muambe project in Mozambique, drilling 3,419 meters across 74 holes, exceeding the initial plan by 70% and encountering visible fluorspar mineralization. The company has dispatched 3,163 geochemical and metallurgical samples for laboratory analysis, with results expected in early 2026 to inform an updated Mineral Resource Estimate. Engagement with the USTDA for rare earths Prefeasibility Study funding has resumed and is progressing, with a decision anticipated in early 2026. Additionally, Altona received a notice for the exercise of 5 million warrants at 1 pence per share, resulting in the issuance of new ordinary shares and an enlarged share capital of 296,864,306. Disclaimer*
About this update from Altona Rare Earths Plc
[{"type":"text","content":"\n\n15 December 2025\n \n \nALTONA RARE EARTHS PLC\n(\"Altona\" or the \"Company\")\n \n \nMONTE MUAMBE FLUORSPAR AND GALLIUM OPERATIONAL UPDATE,\nUSTDA ENGAGEMENT and EXERCISE OF WARRANTS\n \nAltona Rare Earths PLC (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to provide an operational update on the Monte Muambe fluorspar, gallium and rare earths project in Mozambique.\n \nHighlights\n \n· Expanded fluorspar-gallium resource drilling program (total 74 holes, 3,419m) completed\n· 3,163 geochemical and metallurgical samples dispatched to laboratory\n· Competent person site visit successfully completed\n· USTDA engagement for rare earths PFS funding has resumed and is progressing\n· £50,000 warrants exercise notice received\n \nExpanded drilling program completed\n \nThe Company is pleased to announce that it has completed 691m of diamond drilling (15 holes) and 2,728m of reverse circulation drilling (59 holes), for a total of 3,419m (74 holes). Most holes have encountered visible fluorspar mineralization.\n \nThe meterage drilled exceeds by 70% the originally planned 2,000m. The drilling program was expanded due to the encouraging results of the initial holes and to the discovery of new targets, announced on 28 October 2025. This expansion is expected to result in additional fluorspar Mineral Resource Estimate (\"MRE\") tonnage.\n \nSamples dispatched to South African laboratories, data collection completed\n \n3,160 geochemical samples and 3 representative metallurgical samples of fluorspar-gallium ore have been dispatched to assay and metallurgical testing laboratories in South Africa. Assay results are expected in early 2026 and once received they will be rapidly used to prepare and publish the project's MRE.\n \nData collection on site was completed, including logging, density measurements, and Real Time Kinetic (\"RTK\") topography surveying of the different fluorspar areas. The RTK survey will allow the Company to prepare reliable, high-resolution digital terrain models which are necessary for MRE calculations.\n \nAs part of the requiremen...