Why Is Harena Rare Earths Plc Up on 11 Nov 2026?

Harena Rare Earths Plc shares rose 6.25% on 11 Nov 2026, with LSE:HREE among the notable risers on the day. The company is advancing its Ampasindava rare earths project in Madagascar, where its exploitation permit has been formalised.

Its annual results for the 14-month period to 30 June 2026 outlined a year of project milestones, including the completion of a pre-feasibility study and a US$4.84 million funding agreement with the US International Development Finance Corporation.

The company also completed share placings during the period, including £2.0 million in February 2026.

About Harena Rare Earths Plc

Harena Rare Earths Plc is developing the Ampasindava project in Madagascar, an ionic clay rare earths project. Rare earth elements are used in magnets, electric vehicles, wind turbines and electronics.

The project is attracting interest as governments and industry look to diversify rare earth Supply chains. For LSE:HREE, Ampasindava is the central development asset.

Exploitation Permit Formalised

The government of Madagascar has formalised the exploitation permit for the Ampasindava project.

A secured permit provides a clearer legal basis for the project as it progresses towards development.

US Development Finance Support

Harena signed a US$4.84 million funding agreement with the US International Development Finance Corporation to support pilot work.

Backing from a development finance institution reflects the strategic interest in diversified rare earth supply.

Pre-Feasibility Study and Timeline

The company completed a pre-feasibility study for Ampasindava, a key technical and economic milestone.

Management has indicated a target of production in 2028, subject to the next phases of development and funding.

Funding and Cash

Cash and cash equivalents were £1,105,169 at 30 June 2026, following placings of about £1.2 million in August 2025, £450,000 in October 2025 and £2.0 million in February 2026.

Total Assets increased to £3,466,506 from £2,100,482 in the prior period.

Why Rare Earths Matter

Rare earth elements are essential to permanent magnets used in electric vehicles, wind turbines and defence systems.

Many governments are seeking additional supply options, which has increased attention on new projects outside established supply chains.

Business Overview and Financial Information

For the 14-month period to 30 June 2026, Harena reported cash of £1,105,169 and total assets of £3,466,506. The reported result improved on the previous period.

Funding came from placings of about £1.2 million in August 2025, £450,000 in October 2025 and £2.0 million in February 2026, alongside the US$4.84 million development finance agreement.

Strategy and Priorities

The company's plan is to move Ampasindava through pilot work and the next study phase towards development, with a target of production in 2028.

Securing offtake partners and further funding will be important steps as the project advances.

Project Setting

Ionic clay deposits can be processed with relatively simple extraction methods compared with some hard-rock rare earth projects.

This feature is one reason the project has attracted interest from governments and industry looking for diversified supply.

Understanding the Update

A pre-feasibility study evaluates the technical and economic aspects of a Mining project at a preliminary level, and it is a recognised step towards a full feasibility study.

An exploitation permit is the legal authority to develop and operate a mine, so formalising it is a significant milestone.

Timeline of Recent Developments

The company completed its pre-feasibility study in January 2026, raised £2.0 million in February 2026, secured US development finance and had its exploitation permit formalised in October 2026.

This sequence reflects steady progress on both the technical and regulatory sides.

What Investors Tend to Follow

Mining and exploration companies are typically followed through project milestones, permits, funding and the timing of studies or production. Updates on drilling, commissioning and offtake agreements help investors see how plans are advancing.

Key Themes to Watch

Commodity prices, operating costs and access to finance are the wider themes that shape sentiment. For developing projects, the achievement of each stage in the schedule is often as important as the headline financials.

Reading the Next Updates

Operational reports, quarterly updates and corporate announcements are the usual routes through which progress is shared, so investors tend to follow the company's calendar of expected news.

Key Factors to Monitor

Investors may follow pilot-plant progress, the next study phase, additional funding, offtake discussions and rare earth market developments.

Policy support for critical minerals supply chains is also likely to remain an important theme.

Conclusion

Harena Rare Earths' 6.25% advance on 11 Nov 2026 reflects interest in its permit, pre-feasibility study and US-backed funding for Ampasindava.

With a formalised permit, completed study and development finance in place, LSE:HREE has a clear set of milestones to follow. Pilot work and further funding are the next items to watch.