Altona confirms high-grade fluorspar and strong gallium results at Monte Muambe

Altona Rare Earths (LSE:REE) has received the remaining assay results from its 2025 drilling programme at the Monte Muambe project in Mozambique, confirming significant near-surface fluorspar mineralisation alongside stronger-than-expected gallium grades. Fluorspar intercepts averaged around 30% CaF₂, consistent with grades typically suitable for commercial open-pit operations. One standout drill hole returned 30 metres grading 42.5% CaF₂ from surface, reinforcing the project’s potential for open-pit mining.

Results from the gallium assays revealed broad and consistent mineralised zones, with a weighted average grade of 63 g/t Ga₂O₃. The mineralisation extends into the surrounding host rock, indicating that gallium could potentially be recovered from both primary ore and waste material. With all assay results now received and only around 40% of the identified anomaly areas drilled to date, the company is moving forward with work on a mineral resource estimate and targeted metallurgical testing focused on gallium recovery. This combination could strengthen the project’s value proposition within the critical minerals sector and support additional investment in gallium-focused development.

The company’s outlook remains constrained by weak financial fundamentals, including the absence of revenue, ongoing losses, sustained cash burn and rising leverage. These concerns are partly offset by strong technical momentum in the share price, which is trading well above major moving averages with a positive MACD indicator. Valuation support remains limited due to negative earnings and the absence of dividend data.

More about Altona Rare Earths

Altona Rare Earths Plc is a London Main Market-listed exploration and development company focused on critical raw materials in Africa. Its flagship Monte Muambe project in northwest Mozambique hosts rare earth elements, fluorspar and gallium. The company is pursuing a strategy aimed at balancing near-term monetisation opportunities with longer-term resource development and growth.