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An update from Australian Mines ( (AU:AUZ) ) is now available.
Australian Mines Limited has secured regulatory approvals to commence a 1,000-meter drilling program at its Flemington Scandium-Nickel-Cobalt Project in New South Wales. This initiative aims to explore a geophysical anomaly that could expand the existing high-grade scandium resource. The strategic importance of this project is heightened by recent Chinese export controls on rare earth technologies, making non-Chinese sources like Flemington more valuable. The project aligns with Australian Mines’ advancements in scandium-doped metal hydride technology, which could enhance hydrogen storage solutions and strengthen the company’s position in the global energy transition.
More about Australian Mines
Australian Mines Limited is involved in the mining industry, focusing on scandium, nickel, and cobalt resources. The company is known for its high-grade scandium deposits and is working on proprietary metal hydride technology for hydrogen storage, aiming to create a vertically integrated supply chain.
YTD Price Performance: 130.0%
Average Trading Volume: 38,440,143
Technical Sentiment Signal: Hold
Current Market Cap: A$46.24M
For an in-depth examination of AUZ stock, go to TipRanks’ Overview page.