NeoTerra Group Plc (LSE:TERA) has selected Valentine Enterprises to lead a US-funded pre-feasibility study at its Monte Muambe rare earths project in Mozambique, marking another step towards advancing the asset’s development.
Valentine Enterprises will work alongside SGS North America and New Dominion Consulting, creating a consortium that will provide expertise across technical project development, metallurgy and critical-minerals supply chains. The appointment remains subject to final approval from the US Trade and Development Agency (USTDA), which is funding the study.
Once USTDA approval is received, the programme is expected to begin with a formal kick-off meeting and a visit to Monte Muambe. NeoTerra also plans to undertake a targeted drilling campaign designed to obtain representative samples for further metallurgical testing.
Management said the selected consortium combines knowledge of US critical-minerals value chains with practical experience of mining projects in Africa. This expertise is expected to support NeoTerra as it progresses drilling and metallurgical work while assessing potential routes for integrating Monte Muambe into future international rare earths supply chains.
The study is being supported by a US$1.875 million USTDA grant previously secured to advance the rare earths component of Monte Muambe to the pre-feasibility stage. The funding provides NeoTerra with an opportunity to progress technical work on the project while limiting the amount of company capital required for this phase of development.
The latest appointment also supports NeoTerra’s wider strategy of generating value from a portfolio of critical raw material assets. Rare earth elements are important inputs across clean energy, advanced technology, defence and industrial applications, making the development of diversified sources an increasing priority for global supply chains.
NeoTerra’s investment outlook nevertheless remains constrained by its financial position. The exploration and development-stage company currently generates no revenue and continues to report losses and sustained cash outflows, while leverage increased substantially during 2025.
Technical indicators also remain weak, with the shares trading below their key moving averages and MACD in negative territory. Valuation provides limited support because ongoing losses result in a negative price-to-earnings ratio, while the absence of a dividend means there is no income yield to offset the risks associated with its development-stage portfolio.
More about NeoTerra Group Plc
NeoTerra Group Plc is a London Main Market-listed exploration and development company focused on critical raw materials projects in Africa. Its portfolio includes the Monte Muambe project in Mozambique and the Sesana copper-silver project in Botswana.
Monte Muambe hosts rare earths alongside fluorspar and gallium and is covered by a 25-year mining licence. The project has published JORC mineral resource estimates and secured a US$1.875 million USTDA grant to support advancement of its rare earths component towards pre-feasibility.
In Botswana, NeoTerra’s Sesana project targets copper and silver mineralisation in proximity to MMG’s Khoemacau mining operation. Through these assets and potential future acquisitions, the company is seeking exposure to commodities considered strategically important for clean energy, high-technology, defence and industrial markets.
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