Altona Rare Earths Rebrands to NeoTerra Group Amid Project Developments
Altona Rare Earths PLC has rebranded as NeoTerra Group PLC, effective immediately, with a new ticker symbol TERA. This transition reflects the company's shift from a rare earth exploration focus to a broader critical minerals development platform, including various commodities.
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NeoTerra Group PLC, formerly Altona Rare Earths PLC, has changed its name and ticker symbol to TERA on the London Stock Exchange. The company holds the Monte Muambe project in Mozambique, which features rare earth, fluorine, and gallium resources, with JORC estimates of 13.6 Mt at 2.42% TREO, 3.48 Mt at 20.6% CaF2, and 11.73 Mt at 54.7 g/t Ga2O3.
The company secured $1,875,000 in funding from the U.S. Trade and Development Agency for this project, which is under a 25-year mining permit. Investment in the Monte Muambe project is approaching a minimum spending threshold, increasing NeoTerra's stake from 51% to 70%.
The company aims to advance Monte Muambe towards development, progress its fluorine project toward production, and expand its portfolio through business development activities. The diversified portfolio also includes a copper-silver project in Botswana.
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