Altona Rare Earths PLC (LSE:REE) shares climbed in Monday's early deals after it announced very strong assay results from its newly discovered fluorspar body, at the Monte Muambe project in Mozambique.
Lab assays have confirmed grades ranging from 69.72% to 93.31% CaF₂ across five trench samples, the company said, validating the use of gallium soil geochemistry and highlighting further upside potential.
Altona said the results bolster the case for a 50,000 tonnes-per-annum acid-grade fluorspar operation and will guide drilling and metallurgical programmes in the second half of 2025.
“The discovery and confirmation of new high-grade fluorspar mineralisation further reinforces the strategic value of this unique asset,” chief executive Cédric Simonet said in a statement.
In London, Altona shares climbed 6.5% to change hands at 2.13p in Monday's trade.