Altona Rare Earths PLC has released its results for the year ended 30 June 2025, confirming continued progress on its diversification strategy and further strengthening of its project pipeline.
During the year, the company completed a £0.4m equity conversion fundraise, while post-period it raised a further £1.5m to support drilling at Monte Muambe and progress fluorspar and gallium pre-feasibility studies. Debt facilities were reduced by £0.6m, with a one-year extension agreed on the remaining £0.5m balance.
The Group’s gross asset base moved from £2.3m to £1.9m, while share capital and share premium increased from £25.4m to £26.2m, reflecting the additional equity raised. Administration costs fell by £0.2m to £0.8m, and finance costs decreased from £0.5m to £0.1m, supporting improved cost control.
PERIOD HIGHLIGHTS
· Execution of the Company’s diversification strategy with fluorspar and copper
· Positive assessment of short term fluorspar production opportunity from high-grade fluorspar veins at Monte Muambe
· Discovery of gallium occurrences at Monte Muambe
· Granting of a 25 year mining concession at Monte Muambe
· Signing of the final agreement on the Sesana Copper-Silver project and commencement of environmental permitting
· £0.4m fundraise through equity conversion of existing convertible loans
POST-PERIOD HIGHLIGHTS
· Commencement of a drilling programme at Monte Muambe to deliver a JORC Mineral Resource Estimate for both fluorspar and gallium, as part of a scoping study for a 50,000 tpa acid-spar mine
· Ongoing engagement with the United States Trade and Development Agency (USTDA) and the United States Government regarding financial support for the Monte Muambe rare earths project
· Appointment of a new non-executive Chairman, Harvey Sinclair
· Total fundraises of £1.5m to support the progression of the fluorspar and gallium PFS
· Reduction of debt facilities by £0.6m and a one-year extension of terms on remaining £0.5m
Post year-end, Altona raised £0.9m in August 2025, followed by a further £0.6m in October 2025, to advance its rare earths and strategic minerals portfolio.
The company also announced notice of its upcoming Annual General Meeting.
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Altona Rare Earths Plc
Cédric Simonet, CEO +44 (0) 7778 866 108 (cs@altonare.com)
Louise Adrian, CFO +44 (0) 7721 492 922 (la@altonare.com)
