ALTONA RARE EARTHS PLC

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  Material uncertainty over going concern

  However, given the forecast operating loss and the requirement for additional working capital over the next six months, these conditions necessarily indicate that a material uncertainty exists that may cast significant doubt over the Group and Company's ability to continue as a going concern and therefore their ability to realise their assets and discharge their liabilities in the normal course of business. Whilst acknowledging this material uncertainty, the Directors remain confident of raising further finance and therefore, the Directors consider it appropriate to prepare the consolidated and parent company financial statements on a going concern basis.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. ALTONA RARE EARTHS PLC 2021-02-27 → present
2. ALTONA ENERGY PLC 2008-12-19 → 2021-02-27
3. ALTONA RESOURCES PLC 2005-02-02 → 2008-12-19

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, given the forecast operating loss and the requirement for additional working capital over the next six months, these conditions necessarily indicate that a material uncertainty exists that may cast significant doubt over the Group and Company's ability to continue as a going concern and therefore their ability to realise their assets and discharge their liabilities in the normal course of business. Whilst acknowledging this material uncertainty, the Directors remain confident of raising further finance and therefore, the Directors consider it appropriate to prepare the consolidated and parent company financial statements on a going concern basis.”

Group structure

1. ALTONA RARE EARTHS PLC · parent
   1. Altona Rare Earths (Uganda) Limited 100% · Uganda · Mineral exploration and mining
   2. Altona Rare Earths (Tanzania) Limited 100% · Tanzania · Mineral exploration and mining
   3. Altona Rare Earths Mauritius Ltd 100% · Mauritius · Business activities
   4. Monte Muambe Mining Lda 51% · Mozambique · Mineral exploration and mining
   5. Altona Mozambique, Lda* 95% · Mozambique · Mineral exploration and mining
   6. Altona Mozambique II, Lda* 95% · Mozambique · Mineral exploration and mining
   7. Altona Mozambique III, Lda* 100% · Mozambique · Mineral exploration and mining
   8. Sesana Copper Proprietary Limited* 51% · Botswana · Dormant

Significant events

• “On 22 August 2025, the Company announced the completion of a two staged fundraise which brought in total funds to the Company of £851,950.”
• “On 13 October 2025, the Company announced a further gross fundraise of £600,000 though the transfer and subsequent exercise of 40,000,000 warrants at an exercise price of 1.5 pence per share.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

15

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.