13 November 2024
ALTONA RARE EARTHS PLC
("Altona" or "the Company")
PDMR Dealing
Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, announces that it has been notified that on 11 and 12 November Cedric Simonet and Louise Adrian, both Directors of the Company, purchased 899,999 and 1,027,016 ordinary shares of 1 pence each in the Company ("Shares") respectively.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
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-ends-
Altona Rare Earths Plc
Cédric Simonet, CEO +44 (0) 7778 866 108
Louise Adrian, CFO +44 (0) 7721 492 922
Novum Securities Ltd (Corporate Advisor) +44 (0) 20 7399 9400
David Coffman
Daniel Harris
Notification and public disclosure of transaction by person discharging managerial responsibilities
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| a. | Name | | 1) Cedric Simonet | ||||||
| 2 | Reason for notification | | | ||||||
| a. | Position/Status | | 1) CEO | ||||||
| b. | Initial notification/ Amendment | | Initial notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a. | Name | | Altona Rare Earths Plc | ||||||
| b. | LEI | | 2138002A5GU9BFS2I491 | ||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||
| a. | Description of the financial instrument, type of instrument |
| Ordinary shares of £0.01 ISIN Code: GB00BFZNKV91 | ||||||
| b. | Nature of the transaction | | Purchase of Ordinary Shares | ||||||
| c. | Price(s) and volume(s) | |
| ||||||
| d. | Aggregated information - Aggregated Volume - Price | |
| ||||||
| e. | Date of the transaction | | 11/12 November 2024 | ||||||
| f. | Place of the transaction | | London Stock Exchange | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
| a. | Name | | 1) Louise Adrian | ||||||||
| 2 | Reason for notification | | | ||||||||
| a. | Position/Status | | 2) Director | ||||||||
| b. | Initial notification/ Amendment | | Initial notification | ||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a. | Name | | Altona Rare Earths Plc | ||||||||
| b. | LEI | | 2138002A5GU9BFS2I491 | ||||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
| a. | Description of the financial instrument, type of instrument |
| Ordinary shares of £0.01 ISIN Code: GB00BFZNKV91 | ||||||||
| b. | Nature of the transaction | | Purchase of Ordinary Shares | ||||||||
| c. | Price(s) and volume(s) | |
| ||||||||
| d. | Aggregated information - Aggregated Volume - Price | |
| ||||||||
| e. | Date of the transaction | | 11 November 2024 | ||||||||
| f. | Place of the transaction | | London Stock Exchange | ||||||||
About Altona Rare Earths Plc
Altona is a resource exploration and development company focused on critical raw materials in Africa. The Company is listed on the Main Market of the London Stock Exchange with the ticker "REE". The Company currently holds copper, fluorspar and rare earths projects.
The Monte Muambe rare earths and fluorspar projects is located in Northwest Mozambique. The Project was acquired in June 2021, and the Company has so far drilled over 7,800m, and defined a maiden JORC Mineral Resource Estimate of 13.6 million tons at 2.42% TREO. A Competent Person Report including the Scoping Study for Monte Muambe was published on 18 October 2023, and a mining licence is expected to be granted before the end of 2024. The Project is now at Prefeasibility Study stage, with a focus on metallurgical testing for rare earths extraction.
The Company is also assessing the possibility of rapidly putting in production high-grade fluorspar veins occurring at Monte Muambe along the western margin of the rare earth bearing carbonatite intrusion.
Altona is presently diversifying its portfolio by acquiring a limited number of critical raw material projects to complement Monte Muambe. The acquisitions of the Kabompo South copper project in Zambia and of the Sesana copper-silver project in Botswana, located just 25 km from MMG's Khoemacau Zone 5 copper-silver mine, represent the first steps towards the implementation of this expanded strategy.
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