Change of Name
Summary by AI BETAClose X
22 June 2026
ALTONA RARE EARTHS PLC
("Altona" or the "Company")
Altona Rare Earths becomes NeoTerra Group
Altona (LSE: REE) (OCTQB: ANRCF), the African critical minerals exploration and development company, is pleased to announce that, with effect from today, it will change its name to NeoTerra Group PLC ("NeoTerra") - marking a fundamental shift in the Company's identity and ambition.
The Company's LSE ticker will change to TERA at 7am on 23 June 2026.
The change of name follows the Company's evolution from a rare earth-focused exploration company into a broader critical minerals development platform with multiple commodity exposures, near-term production opportunities and a growing pipeline of strategic growth initiatives.
The change of name will not affect shareholders' rights and existing share certificates will remain valid.
Why NeoTerra
Over the past two years, Altona has evolved significantly beyond its mandate as a rare earth exploration company.
Today, its flagship Monte Muambe Project in Mozambique is endowed with not only rare earth but also fluorspar and gallium resources, as well as recently identified heavy rare earth potential - all within a single mining concession.
At the same time, the Company has broadened its strategic focus to include the development of additional critical minerals opportunities capable of generating near-term cash flow and long-term growth.
As the Company is entering a new phase of development, that the name NeoTerra better reflects its ambition to build a diversified African critical minerals platform focused on development, production and sustainable value creation - not just exploration.
Building on strong foundations
During the past twelve months, the Company has achieved a number of significant milestones.
Among these are:
- Securing the support of the US Government through $1.875 million of grant funding from USTDA for the Monte Muambe rare earths project.
- Publishing an initial JORC-compliant MRE for the Monte Muambe fluorspar project demonstrating sufficient resources to sustain the Company's planned fluorspar production profile.
- Announcing one of the first ever JORC-compliant gallium MRE for a carbonatite-fenite hosted gallium deposit.
- Identifying heavy rare earths (Dysprosium and Yttrium in particular) as an additional potential value driver for the fluorspar project.
- Securing cross trading of the Company's shares on the OTCQB market in the United States, broadening access to North American investors and strategic stakeholders.
Collectively, these achievements have strengthened the Company's technical foundations, expanded its strategic relevance and increased its exposure to several critical minerals essential to advanced manufacturing, defence, clean energy and high-technology supply chains.
The Board believes these developments position the Company for substantial future value creation.
Priorities for 2026 and beyond
The Company's priorities for the remainder of 2026 are centered around advancing Monte Muambe towards development, progressing the fluorspar project towards production and expanding the Group's portfolio through disciplined business development.
Investment into the Monte Muambe project for Phase 3 of the earn-in agreement is close to reaching the minimum expenditure commitment for this phase, which will see the Company's holding in the project increase from 51% to 70%.
Neodymium-Praseodymium
The USTDA-funded work programme is expected to deliver critical metallurgical, engineering and commercial workstreams that will support project advancement through advanced studies. The planned work encompasses 13 tasks covering technical, commercial, environmental and financial aspects of the project. Besides process parameters and product samples, a key deliverable from this work will be an update of the 2023 techno-economic model, which will result in an updated project valuation. This work stream is funded and does not require additional funding from the Company.
The Company is also continuing discussions with strategic participants across the rare earth value chain, particularly in the United States and Europe, as governments and industry seek to secure alternative critical mineral supply chains. These discussions include a possible involvement in the development of innovative rare earths recovery and separation technology.
Fluorspar
The Company's fluorspar strategy remains focused on progressing towards definitive feasibility and a final investment decision, including assessment of construction funding options.
The Company's management believes the fluorspar project offers a potential pathway to near-term production and cash generation, while also creating opportunities to unlock additional value from associated gallium and heavy rare earth mineralization.
Business development
The Company continues to evaluate a number of carefully selected acquisition opportunities that meet its strategic criteria, including low acquisition cost, modest development capital requirements, short timelines to production and strong cash generation potential.
The Company's objective is not to build a large portfolio of speculative exploration projects, but rather a focused pipeline of quality critical minerals assets capable of supporting its revenue generation strategy and strengthening the NeoTerra value proposition.
Our long-term ambition
NeoTerra's long-term objective is to become a diversified African critical minerals development and production company.
The Group intends to focus on strategically important minerals where supply constraints, geopolitical considerations and increasing industrial demand create opportunities for disciplined developers capable of bringing quality projects into production.
By combining organic project development with selective acquisitions, the Board believes NeoTerra can create a differentiated platform positioned to benefit from the growing global demand for secure supplies of critical raw materials.
Cedric Simonet, CEO of Altona, commented:
"Changing our name to NeoTerra Group is more than a rebrand - it reflects an advancing transformation.
"Over the past year, we have strengthened Monte Muambe's foundations across rare earths, fluorspar and gallium, secured USTDA support from the U.S. government, and strengthened strategic engagement across critical mineral supply chains.
"We believe that the Company's move beyond the traditional exploration model towards a broader development and growth strategy supported by current commodity prices dynamics will create long-term shareholder value through production, cash generation and disciplined expansion.
"The Board believes that the name NeoTerra Group captures this ambition and better reflects where the Company is going - not just where it has been. The opportunity ahead is substantially larger than when Altona was founded, and we look forward to updating shareholders as we execute."
For further information, please visit the Company's website:
-ends-
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NeoTerra Group Plc
Cédric Simonet, CEO +44 (0) 7769 555 757 (Cedric.Simonet@neoterra-group.com)Louise Adrian, CFO +44 (0) 7721 492 922 (Louise.Adrian@neoterra-group.com)
Strand Hanson (Financial Adviser) +44 (0) 20 7409 3494
Christopher Raggett
Imogen Ellis
Zeus Capital (Corporate Broker) +44 (0) 20 3829 5000
Simon Johnson
James Hornigold
About NeoTerra Group Plc
NeoTerra Group Plc (LSE:TERA)(OTCQB:ANRF) is a London Main Market-listed exploration and development company focused on unlocking the value of critical raw materials across Africa. The Company is pursuing a diversified strategy, targeting assets with potential for near-term monetisation alongside long-term growth.
The multi-commodity Monte Muambe Project in northwest Mozambique is a highly prospective tenement hosting rare earths, fluorspar, and gallium mineralisation. Published JORC mineral resource estimates include:
· 13.6Mt at 2.42% TREO
· 3.48Mt at 20.6% CaF2
· 11.73Mt at 54.7g/t Ga2O3
The project is held under a 25-year mining licence and has received US Government support in the form of a US$ 1.875 million grant from USTDA to advance the rare earths component through the prefeasibility stage.
NeoTerra's diversified portfolio also includes the Sesana Copper-Silver Project in Botswana, strategically located just 25 km from MMG's Khoemacau Zone 5 copper-silver mine.
With a unique combination of critical raw materials projects, NeoTerra is well positioned to contribute to the global supply of highly sought commodities essential for clean energy, high technology, defence and industrial applications.
The Company and the Board remain actively focused on identifying and evaluating additional projects that align with our investment profile and strategic objectives, leveraging our extensive network and combined industry experience to uncover compelling opportunities that can drive long-term growth.
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