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Chilwa Minerals Ltd ( (AU:CHW) ) just unveiled an announcement.
Chilwa Minerals Limited completed its initial drilling program at the Mposa deposit, significantly increasing its drilling output and recovery rates compared to previous owners, and began operations at the Mpyupyu site, noted for its high heavy mineral sands (HMS) grade. The company also launched a twin parallel strategy to explore both mineral sands and rare earth elements, as evidenced by the arrival of a second sonic rig, the opening of a preparation laboratory, and the recruitment of specialized geologists. These developments, alongside a successful capital raise and ongoing ESG efforts, position Chilwa Minerals for enhanced exploration and potential growth in the Malawi region, strengthening its strategic footing within the industry.
More about Chilwa Minerals Ltd
Chilwa Minerals Limited is a company in the mining industry, focused on mineral sands and rare earth elements exploration and development. The company’s operations are primarily centered in Malawi, where it employs advanced drilling technology and strategic initiatives to enhance its resource evaluation and extraction capabilities.
YTD Price Performance: 2.67%
Average Trading Volume: 24,487
Technical Sentiment Consensus Rating: Sell
See more insights into CHW stock on TipRanks’ Stock Analysis page.