Altona Rare Earths PLC (LSE: REE) has mobilized a multipurpose drilling rig to its Monte Muambe project in Mozambique, marking the start of a 2,000m programme targeting both high-grade fluorspar and gallium-bearing ore. The rig will provide fresh resource data and metallurgical samples to support an updated fluorspar estimate while advancing understanding of gallium mineralization.
Recent mineralogy studies confirmed gallium grades of up to 1,700g/t in feldspar, with results indicating that gallium reports into tailings during fluorspar recovery. This opens a potential two-step recovery pathway for both commodities. Metallurgical studies will now assess the feasibility of gallium extraction from tailings alongside acid-grade fluorspar production.
In parallel, Altona has issued 9.6M new ordinary shares to an existing shareholder under its warrant sacrifice structure, taking total voting rights to 238.7M shares. Admission to the Main Market is expected on 9 September 2025.
CEO Cédric Simonet said the company is making rapid progress on gallium while advancing fluorspar drilling, positioning Monte Muambe as a project with significant dual-commodity potential.
For more information, visit investors.altonare.com
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