Altona Energy

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Market Cap:
7.50 GBX
52 weeks high
52 weeks low

In brief

Altona Energy is a mining exploration company focused on the evaluation, development and extraction of Rare Earth Elements “REE”.

The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to Aquis Stock

Exchange (Formerly NEX Exchange for Growth Companies) on 1 February 2019.

The Company embarked upon its new strategy focus in early 2020 and in May 2020 it entered into an MoU with a Malawian mining consultancy company, Akatswiri Mineral Resources, for the acquisition of 75% of a REE mining asset in Southern Malawi. In July, Heads of Agreement were signed with Akatswiri with the intention of completing the acquisition once funding is in place. The Exploration Licence (APL 0153) is waiting approval by the Malawi government, which is expected by mid-October.

On 20 September the Company signed Heads of Agreement with Leadway Group, a Ugandan company which owns an Exploration Licence (TN03385) on a tenement in Eastern Uganda, to acquire a 70% interest in the project. The Company is also currently reviewing a number of other Rare Earth projects in Africa, where one of more is expected to lead to an investment by Altona.