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Tombador Iron Ltd. ( (AU:AEU) ) has issued an update.
Atomic Eagle announced a substantial JORC Exploration Target at its Muntanga Uranium Project of 82–150Mt at 150–350ppm U₃O₈, equating to around 40–100.5 Mlb of uranium, significantly expanding the potential scale beyond its current resource base. Maiden drilling at the Chisebuka target and subsequent drilling at Muntanga East delivered broad, higher-grade, near-surface uranium intersections, reinforcing the project’s growth potential, while the appointment of Phil Hoskins as CEO, a $19.2 million cash balance funding at least 24 months of exploration, and ongoing royalty income from its former Brazilian iron ore asset collectively underpin the company’s ability to accelerate resource growth and advance its position in the uranium sector, with a resource estimate upgrade expected in the near term.
More about Tombador Iron Ltd.
Atomic Eagle Limited (ASX:AEU) is an Australian-listed exploration company focused on uranium, with its flagship Muntanga Uranium Project located in southeastern Zambia. The project covers a 1,126km² licence package and already hosts a JORC-compliant Measured and Indicated Resource of 50.4Mt at 359ppm for 40.0 Mlb U₃O₈, plus an Inferred Resource of 12.8Mt at 263ppm for 7.4 Mlb U₃O₈, positioning the company within the emerging African uranium development space. Atomic Eagle also receives royalty income from a previously owned Brazilian iron ore project, providing an additional revenue stream.
Average Trading Volume: 1,128,823
Technical Sentiment Signal: Hold
Current Market Cap: A$234.6M
For an in-depth examination of AEU stock, go to TipRanks’ Overview page.