Business
Replacement: Half-year Financial Report
Altona Rare Earths PLC has issued an amendment to its unaudited interim results for the six months ended December 31, 2025, correcting figures related to warrant exercises and balances. The company reported a financial loss of £376,000 for the period, an improvement from £512,000 in the prior year, with administrative costs reduced to £340,000 from £440,000. Significant post-period events include securing a US$1.875 million USTDA grant for its rare earths project and admission to the OTCQB Venture Market. Cash reserves stood at £348,000 at period end, with current balances at approximately £1.1 million. Disclaimer*
About this update from Altona Rare Earths Plc
[{"type":"text","content":"\n\n27 March 2026\n \n \nThe following amendments have been made to the unaudited interim results for the six month period ended 31 December 2025 announcement released on 26 March at 07:00 under RNS No 1663Y. \nIn Note 13 to the Financial Statements, the number of \"Warrants exercised - 26 August 2025\" was changed from \"(60,130,000)\" to \"(50,500,000)\", the number of warrants for the \"Balance as at 31 December 2025\" was changed from \"155,012,760\" to \"164,642,760\" and the number for the \"Balance as at 25 March 2026\" was changed from \"85,079,427\" to \"104,709,427\". In Note 16 to the Financial Statements, the \"outstanding number of warrants\"' was changed from \"85,079,427\" to \"104,709,427\".\nAll other details remain unchanged and the outstanding number of warrants of 71,612,760, as set out in the announcement released on 26 March 2026 at 07:30 under RNS No 1664Y remains the correct current figure for the number of outstanding warrants at the date of this announcement.\nThe full amended text is shown below:\n \nALTONA RARE EARTHS PLC\n(\"Altona\" or the \"Company\")\n \nINTERIM RESULTS\n \nAltona Rare Earths plc (LSE: REE), the critical raw materials exploration and development company focused on Africa, is pleased to announce its interim results for the six month period ended 31 December 2025.\n \nFINANCIAL HIGHLIGHTS\n· Improved cost discipline, reducing administrative costs from £440,000 to £340,000 for the comparative periods.\n· £600,000 loan facility repaid; remaining £500,000 facility extended to October 2026.\n· c. £1.2 million raised during the period through warrant exercises, with additional c. £1.0 million raised post period end.\n· Cash of £348,000 at period end. Current cash balances stand at c. £1.1 million sufficient for the Company's current requirements.\n· Continued portfolio optimisation and review of potential new project opportunities.\n \nPOST PERIOD-END HIGHLIGHTS\n· 3,419m (74 holes) drilling campaign for fluorspar and gallium completed at Monte Muambe: JORC Mineral Resource Estimate expected April 2026.\n· US$1.875 million USTDA grant to support prefeasibility study for rare earths project obtained post period end.\n·&n...