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Kendrick Resources PLC ( (GB:KEN) ) has issued an update.
Kendrick Resources has commenced Phase II drilling at the Teufelskuppe and Keishohe rare earth carbonatite complexes in Namibia’s Bonya project, moving rapidly into resource definition work. All eight known intrusions at Teufelskuppe and multiple mineralised bodies at Keishohe will be drill tested to convert extensive historic high-grade data into maiden JORC-compliant mineral resource estimates, underpinned by peer-reviewed channel sampling that shows exceptional grades and favourable mineralogy.
The company is also commissioning a digital elevation model, advanced petrological studies, and bulk sampling to assess breccia-hosted mineralisation and potential ore sorting, aiming to refine future mine planning and metallurgy. By leveraging inherited 2018 drilling and trench data and the high proportion of recoverable fluorocarbonate-hosted rare earths, Kendrick is positioning Bonya as a potentially significant light rare earths project, with the new work programmes directed at de-risking development and enhancing long-term shareholder value.
The most recent analyst rating on (GB:KEN) stock is a Hold with a £0.98 price target. To see the full list of analyst forecasts on Kendrick Resources PLC stock, see the GB:KEN Stock Forecast page.
Spark’s Take on GB:KEN Stock
According to Spark, TipRanks’ AI Analyst, GB:KEN is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, negative cash flow, and a material 2024 decline in equity/assets). Technicals provide some offset due to strong upward trend vs moving averages and positive MACD, but overbought momentum indicators increase near-term risk. Valuation is also constrained by negative earnings and no dividend yield support.
To see Spark’s full report on GB:KEN stock, click here.
More about Kendrick Resources PLC
Kendrick Resources PLC is a London-listed mineral exploration and development company focused on rare earth elements and other critical minerals. The group is expanding its portfolio through acquisitions, including a 70% interest in highly prospective Namibian exploration licences at the Bonya rare earth project, targeting carbonatite-hosted rare earth deposits aligned with growing clean energy demand.
Average Trading Volume: 6,294,351
Technical Sentiment Signal: Buy
Current Market Cap: £6.69M
For detailed information about KEN stock, go to TipRanks’ Stock Analysis page.