Connected Minerals Launches its First Drilling Initiative in Namibia

Connected Minerals Ltd. has appointed Hammerstein Drilling for its first drilling program in Namibia, targeting uranium mineralization. Set to begin in April, this significant milestone follows the company’s relisting. Despite a current stock decline, the company has a ‘Buy’ consensus rating and a market cap of A$8.74 million.

Connected Minerals Ltd. has announced the commencement of its inaugural reconnaissance drilling program in Namibia, engaging Hammerstein Drilling for the task. Purposefully targeting the Etango North-East and Swakopmund projects, this program is anticipated to start in April and aims to investigate high-grade uranium mineralization, previously identified through rock-chip sampling and geophysical surveys. This development represents a pivotal moment for the company, especially post its recent relisting.

Connected Minerals Ltd. predominantly operates within the mining sector, concentrating on uranium exploration, specifically within Namibia. The company is committed to advancing various exploration projects that aim to capitalize on the region’s mineral potential.

As of now, Connected Minerals Ltd. has experienced a year-to-date price decrease of 25%, and the average trading volume is recorded at 74,603 shares. The technical sentiment consensus rating currently stands at a ‘Buy’, with the company’s market capitalization listed at A$8.74 million. Interested individuals may seek a comprehensive evaluation of CML’s stock on TipRanks’ Stock Analysis page.

Connected Minerals Ltd.’s initiation of its first drilling program in Namibia reflects a strategic step toward uncovering uranium resources. With Hammerstein Drilling at the helm, the focus on the Etango North-East and Swakopmund projects is significant for the company’s growth. Despite recent stock performance challenges, the ‘Buy’ sentiment and ongoing exploration efforts indicate a potentially promising future in the uranium sector.

Original Source: www.tipranks.com