Altona Rare Earths (LSE:REE) has secured £450,000 in new funding following the exercise of 30 million warrants at 1.5p per share and has further bolstered its balance sheet by converting £20,000 of accrued interest on outstanding debt into 2 million new shares at 1p. The additional capital will be directed toward advancing fluorspar and gallium resource estimates and completing a scoping study at the Monte Muambe project. As a result of the share issuance, total voting rights will increase to 358,682,302, representing modest dilution for existing shareholders but providing added financial support for the company’s African critical minerals strategy.
An application has been submitted for the admission of the 32 million new shares to trading on the Main Market of the London Stock Exchange, with admission expected around 13 February 2026. Management described the transactions as a positive signal of growing investor and lender confidence, highlighting continued backing for Altona’s efforts to progress and ultimately monetise its portfolio of critical raw materials assets positioned within global clean energy and high-technology supply chains.
From an outlook perspective, the company remains constrained by its early-stage financial profile, characterised by a lack of revenue, ongoing losses and continued cash burn, alongside relatively elevated leverage. Positive share price momentum and supportive technical trends offer some offset, but valuation remains challenged in the absence of profitability or dividend support.
More about Altona Rare Earths
Altona Rare Earths is a London Main Market-listed exploration and development company focused on critical raw materials across Africa, including rare earth elements, fluorspar, gallium and copper-silver. Its flagship Monte Muambe project in Mozambique hosts multi-commodity mineralisation under a 25-year mining licence, while the company is also advancing the Sesana Copper-Silver Project in Botswana as part of a diversified growth strategy.
Leave a Reply