Altona Rare Earths PLC (LSE:REE)’s shares spiked 9% to 1.84p when trading kicked off on Monday in response to an operational update.
The resource exploration and development company has exercised its option to acquire the Sesana copper-silver project in Botswana, allowing it to acquire an interest of up to 85% in the tenement.
This tenement is in the Kalahari Copper Belt, about 25 kilometres from the Khoemacau Copper-Silver underground mine.
Altona shares have since come back to 1.62p.