LONDON, July 7, 2026, 16:03 BST
- NeoTerra jumped 12.5% at 2.25p as London trading ran late. Volume hit 5.94 million shares. The bid-ask spread was wide at 14.3%.
- The company said gallium concentration in the first-stage tailings rose about 100% after initial flotation work.
- The stock remains down 52% from its high in April, so the update hasn’t cleared worries about funding or execution.
NeoTerra Group PLC (LON:TERA) climbed Tuesday after the company, which recently changed its name, reported that results from initial Monte Muambe work connected its fluorspar process to a potential gallium pre-concentration stream. The announcement gave investors another angle to consider the small-cap miner as a rare-earth supply chain play.
Shares last traded at 2.25 pence on delayed lse.co.uk data, up 0.25p, or 12.5%. About 5.94 million shares changed hands, making up 1.3% of the 457.67 million on issue. Market value stood at 10.30 million pounds. The stock showed a 0.30p bid-ask spread, or 14.3%, pointing to thin trading behind the day’s move.
| NeoTerra market read-through | July 7 data |
|---|---|
| Last price | 2.25p |
| Daily move | up 0.25p, or up 12.5% |
| Open / high / low | opened at 2.05p, hit 2.25p high, 2.05p low |
| Volume | 5.94 mln shares traded |
| Volume / shares in issue | 1.3% |
| Market cap | £10.30 mln |
| Year high / low | top of 4.70p, bottom of 1.125p this year |
| Current price vs year high | 52.1% off the high |
NeoTerra said Maelgwyn ran 14 scout flotation tests using blended fluorspar ore from Monte Muambe, and five product assays are still pending. In the update, the company said gallium showed up in first-stage tailings and this meant about a 100% concentration increase compared to run-of-mine feed.
| Monte Muambe item | Company figure or status |
|---|---|
| Rare earths | 13.6 Mt grading 2.42% TREO |
| Fluorspar | 3.48 Mt at 20.6% CaF2 |
| Gallium | 11.73 Mt with 54.7 g/t Ga2O3 |
| U.S.-backed work | $1.875 mln rare earths prefeasibility program backed by USTDA |
| Next technical checks | SGS hydro results coming in July; waiting on COMEX results |
Chief Executive Cedric Simonet said the results marked “an important milestone” and suggested “value from three strategically important commodities within a single project.” The company said it’s now in final talks with selected engineering firms for the U.S.-backed rare earths prefeasibility work. Investegate
The rare-earth angle put extra weight behind the RNS. On July 7, Reuters said Japanese company filings mentioning rare-earth risks have doubled since May. Chinese customs data showed there were no terbium or dysprosium oxide exports to Japan from November to May, and just small yttrium oxide shipments since December.
Takeshi Higashifukasawa, senior economist at Mizuho Research Institute, told Reuters that companies “cannot afford to be optimistic.” Satoru Yoshida, commodities analyst at Rakuten Securities, said “everyone is starting to use them.” Yuri Group CEO Yuriy Humber said a year of export curbs would mean “big problems.” Reuters
NeoTerra trades at 2.25p, which is double where it was in January but less than half its April top. The market is still treating it as a small developer, not a producer. The firm has testwork, a U.S.-backed study, and is in some commercial talks. But without a binding offtake, no final investment sign-off, and no production finance, the gap persists.
Altona Rare Earths was the company’s name until last month. NeoTerra took over as of June 22, and its LSE ticker switched to TERA a day later. The company said at the time Monte Muambe isn’t just a rare earths story anymore, pointing to potential for fluorspar, gallium and heavy rare earths on the same concession.
The next moves are mostly price tests: waiting on five Maelgwyn assays, results from SGS and COMEX gallium checks, the engineering contract decision, and whether the talks with metals traders or strategic partners end up as signed deals.
