Highlights

• Altona Rare Earths reports breakthrough gallium grades up to 1,154 g/t at Monte Muambe Project in Mozambique.
• 45% of drill cores show visible mineralization across three newly discovered fluorspar targets.
• Discovery comes amid China's gallium export restrictions, potentially positioning Monte Muambe as one of Africa's most strategic sources for semiconductors, LEDs, and defense materials.
• Dual fluorspar-gallium asset holds $283M NPV potential with a 2027 production target, despite a £6.5M market cap.
• Success hinges on assay verification and funding partnerships.

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Altona Rare Earths Plc (opens in a new tab) (LSE: REE) has released an operational update on its Monte Muambe fluorspar and gallium project in Mozambique, highlighting a potential dual-stream breakthrough. The company reports three newly discovered fluorspar targets and confirms that 45% of diamond drill core samples show visible mineralization. Notably, assays at the Python target reveal gallium grades up to 1,154 g/t, positioning Monte Muambe as one of Africa’s most promising emerging sources of both fluorine and gallium—two minerals critical to semiconductors, batteries, and advanced defense materials.

The Project

CEO Cédric Simonet (opens in a new tab) described the progress as “a tangible step toward expanding the project’s resource base,” with parallel exploration streams now focusing on quantifying both fluorspar and gallium. The company expects to release further updates once sample batches are shipped for external assay and metallurgical testing.

A Critical Mineral

Gallium is a soft, silvery-blue metallic element with atomic number 31 and the symbol Ga. It is known for its low melting point (around $29^circ$C), high boiling point, and the ability to melt in your hand. It is used in electronics like LEDs and smartphones, and also in high-temperature thermometers. 

Strategic Implications: Gallium’s Return to the Spotlight

Gallium has been thrust into geopolitical focus following China’s 2023–24 export restrictions, which sent shockwaves through Western supply chains dependent on the metal for semiconductors, LEDs, and radar systems. Altona’s results—if confirmed by third-party laboratories—could mark one of the highest-grade gallium intersections globally in recent exploration cycles. The discovery’s timing could strengthen both European and African supply-chain integration efforts, especially as London-listed juniors seek to establish Africa as a parallel corridor to Asia’s mineral dominance.

The project’s use of Hitachi X-Met8000 pXRF analyzers for on-site assays provides valuable early insights, though investors should note that these results are preliminary and require laboratory verification. Still, the field evidence of mineralization—combined with multiple confirmed targets—adds material weight to Monte Muambe’s economic potential.

Market Snapshot: Undervalued Junior with Strategic Momentum

Altona Rare Earths trades on the London Stock Exchange (LSE: REE) with a market capitalization hovering around micro-cap levels, a reflection of its early-stage profile rather than asset potential. Fundamentally, the discovery aligns with a global gallium scarcity narrative and gives the company a credible growth catalyst. Technically, REE shares remain thinly traded but may gain speculative traction as assay results advance and institutional awareness builds.

Sept 2025 Corporate investor Presentation

Altona Rare Earths’ September 2025 investor presentation outlines the company’s evolution into a diversified African critical minerals developer with assets spanning rare earths, fluorspar, gallium, and copper. The centerpiece remains the Monte Muambe Project in Mozambique, which sits on a dual mining license hosting both REEs and fluorspar–gallium mineralization. The REE resource totals 13.6 Mt at 2.42% TREO, dominated by magnet metals neodymium, praseodymium, terbium, and dysprosium—elements vital to permanent magnets and electric vehicle supply chains. A 2023 scoping study projected an NPV₈ of $283 million, a 25% IRR, and a 2.5-year payback period, based on two open pits and an 18-year mine life. Altona is pursuing U.S. Trade and Development Agency (USTDA) support to advance a pre-feasibility study while targeting 2027 production of 50,000 tonnes of acid-grade fluorspar annually, potentially with gallium by-products.

The presentation also emphasizes the discovery of high-grade gallium, reaching over 1,000 g/t Ga at the Python target, associated with fluorspar zones. Gallium’s presence strengthens Monte Muambe’s strategic value amid tightening Chinese export controls. Parallel exploration at Sesana Copper-Silver in Botswana adds exposure to the Kalahari Copper Belt, complementing Altona’s diversified model. However, the company’s £6.5 million market capitalization contrasts sharply with its project ambitions—reflecting both early-stage risk and capital dependency. While technical milestones such as a mining license valid until 2049 and a confirmed high-grade position for the Altona well, progress hinges on funding partnerships, metallurgical validation, and credible resource expansion. The September 2025 deck signals ambition and geological promise, but investors should weigh these against the financial and execution challenges typical of small-cap explorers in frontier jurisdictions.

REEx Reflection

Altona Rare Earths’ latest Monte Muambe update reveals strong fluorspar and gallium mineralization, including grades up to 1,154 g/t Ga and three new targets. While assay verification is pending, this discovery—if confirmed—could position Mozambique as a key player in gallium supply diversification amid China’s export curbs. The news underscores how Africa’s critical minerals frontier continues to evolve into a pillar of global supply resilience.

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