Cedric Simonet, CEO of Altona Rare Earths, joins StockBox to discuss a surprising discovery of high-grade gallium at the Monte Muambe project in Mozambique. Long associated with rare earths and fluorspar, the project now sees added economic upside with gallium — a critical tech metal.
Key Highlights:
- Gallium found in select drill holes, with grades above 100ppm
- Altona now reviewing past soil data to target new zones
- Fluorspar test results could lead to rapid, low-CAPEX production
- Strategic investor search ongoing for the rare earths
Fluorspar scoping study progress
The Company confirms that the fluorspar samples have been delivered to Peacocke & Simpson laboratory in Zimbabwe for gravity separation and flotation tests, and that the testing process has started. The delay in the delivery was the result of logistical difficulties caused by post-election instability in Mozambique, which has now subsided. Results from this testing are expected during the course of April.
Cedric Simonet, CEO of Altona, commented: “Carbonatites systems typically host a wide range of minerals. Monte Muambe is no stranger to this, with the presence of rare earths and fluorspar. The discovery of gallium mineralisation in parts of the carbonatite intrusion that have seen less exploration so far is a positive development for us and underpins the potential for additional discoveries at Monte Muambe.
“While current work on the potential for short-term fluorspar production continues, we will initially carefully assess the possibility of recovering gallium as a by-product of rare earths and/or fluorspar, and the potential extent of gallium mineralisation at surface level.”
