Connected Minerals Ltd. has initiated its maiden drilling program in Namibia, targeting high-grade uranium mineralization. The program, set to start in April, represents a significant milestone for the company following its relisting. With a current market cap of A$8.74 million, the stock has experienced a YTD decline of 25%, but maintains a ‘Buy’ consensus rating.
Connected IO Ltd. has announced that Connected Minerals Ltd. has appointed Hammerstein Drilling to initiate its first reconnaissance drilling program in Namibia. This significant event will target the Etango North-East and Swakopmund projects and is scheduled to commence in April. The drilling aims to investigate high-grade uranium mineralization that has been previously identified through rock-chip sampling and geophysical surveys, marking a vital milestone post the company’s recent relisting.
Connected Minerals Ltd. is engaged in the mining sector, specifically focused on uranium exploration projects in Namibia. The company has established itself within this niche, concentrating on utilizing its resources to explore and develop mineral assets.
As for Connected Minerals’ Year-to-Date (YTD) price performance, the company’s shares have experienced a decline of 25%. The average trading volume is currently reported at 74,603 shares. The consensus sentiment regarding the technical rating of the stock is classified as a ‘Buy,’ while the present market capitalization stands at A$8.74 million. For an extensive evaluation of CML stock, prospective investors are encouraged to visit TipRanks’ Stock Analysis page.
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In summary, Connected Minerals Ltd. is embarking on a critical exploration initiative in Namibia through its maiden drilling program, targeting high-grade uranium resources. The organization continues to navigate market challenges evident in its stock performance, while maintaining a positive technical sentiment. With a focus on uranium exploration, the company aims to leverage its recent developments to enhance market positioning.
Original Source: www.tipranks.com
