Altona Rare Earths Provides Encouraging Fluorspar Assay Results
Why we think this is good
The RNS provides positive news about the high-grade fluorspar assay results from the Monte Muambe project, with an average grade of 88.03% CaF2 exceeding management's expectations. This suggests the potential to produce a high-quality fluorspar product, which could be commercially viable. The company is also progressing metallurgical studies and discussions with potential off-takers, indicating progress towards potential fluorspar production. While the RNS does not provide detailed financial or operational information, the positive fluorspar results are a step in the right direction for the company.
Key Points
- Fluorspar ore samples from Monte Muambe averaged 88.03% CaF2 grade, exceeding management's expectations
- CaF2 grade exceeds typical range for metallurgical grade fluorspar (60 to 85%)
- Altona is progressing metallurgical studies and discussions with potential off-takers to advance fluorspar production
Summary
Altona Rare Earths PLC (LSE: REE) has announced very encouraging assay results from fluorspar ore samples collected at the Monte Muambe Fluorite Zone, with an average grade of 88.03% CaF2. This exceeds the typical range for metallurgical grade fluorspar (60 to 85%) and supports the company's optimism in the potential to produce a commercial fluorspar product from this ore. Altona is now progressing metallurgical testing and discussions with potential off-takers as it aims to achieve fluorspar production from Monte Muambe in the short term.