Altona Rare Earths (LON:REE) shares dipped in Monday's trade, accounting for news of an equity raise to support an expanded drilling programme.
It raised £250,000, selling 25 million new shares at 1p each, a 23% discount to Friday's closing mid-price. on 19 December 2025.
Altona said the increased drilling follows encouraging early results and a 70% rise in meterage drilled. The explorer also dispatched a larger number of samples for geochemical assays, to support an expanded Mineral Resource Estimate in early 2026.
"I am pleased that we have secured funding for the additional drilling and assays, which puts us in a position to deliver a larger MRE than originally anticipated," said chief executive Cédric Simonet.
Altona shares were down 4.23%, changing hands at 1.25p.