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Magnum Mining and Exploration Limited ( (AU:MGU) ) has issued an announcement.
Magnum Mining and Exploration Limited has acquired the Wet Mountains Rare Earth Element Project in Colorado, U.S., through a binding term sheet with Wyoming Critical Minerals, Inc. The project boasts historical assays of up to 7.99% Total Rare Earth Elements (TREE) and significant untested potential, with no modern drilling or systematic sampling conducted to date. This acquisition aligns with Magnum’s focus on U.S. critical minerals and positions the company for potential government support, enhancing its strategic positioning in the REE sector. Magnum plans to initiate a rapid exploration campaign to validate historical results and fully explore the project’s potential.
More about Magnum Mining and Exploration Limited
Magnum Mining and Exploration Limited operates in the mining industry, focusing on the exploration and development of critical minerals, particularly rare earth elements (REEs). The company is expanding its portfolio in the U.S., aligning with government supply-chain initiatives and aiming to capitalize on the strategic importance of REEs.
Average Trading Volume: 16,866,549
Technical Sentiment Signal: Sell
Current Market Cap: A$16.82M
See more data about MGU stock on TipRanks’ Stock Analysis page.