IN BRIEF: NeoTerra shares rise as Monte Muambe testing progresses

NeoTerra Group PLC - Africa-focused resource exploration and development, formerly named Altona Rare Earths PLC - Updates on operational progress at its Monte Muambe Project. Says metallurgical testing has so far executed 14 scout flotation tests on blended fluorspar ore samples from Monte Muambe, with product assay results pending for another five. Testing completed to date has allowed it to define a two-stage flotation pathway to reject silicates, oxides and carbonates, and thereby to produce an acid-grade fluorspar concentrate. Notes that "gallium reports to the first stage tailings, resulting in a [roughly 100%] gallium concentration increase in these tailings in relation to the run of mine." Says results substantially de-risk the proposed process flowsheet by demonstrating that fluorite and gallium-bearing minerals respond differently during flotation, showing "a practical route for integrating gallium pre-concentration into the fluorspar flowsheet." NeoTerra also says specific gallium recovery metallurgical testing is ongoing, with SGS Lakefields in Canada proceeding with hydrometallurgical extraction and expecting initial results this month, while Poland's COMEX expects results "imminently". Believes the additional work "will significantly enhance the overall value and commercial potential of the project."

NeoTerra also says it is in final discussions with shortlisted candidates, having received a "high level of interest" from "leading US engineering and metallurgy groups". Expects final selection and contract signing "within the coming weeks, with initial tasks commencing in due course." Operational team for the metallurgical sampling drilling campaign has started preparation activities on site. Company also notes that "the long-term magnet rare earths market fundamentals remain very strong, but also that the decoupling between Chinese and non-Chinese rare earths supply markets is accelerating." Particularly notes the presence of yttrium and gallium at the project.

Current stock price: 2.16 pence, up 8.0% on Tuesday in London

12-month change: up 0.5%

Copyright 2026 Alliance News Ltd. All Rights Reserved.