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Magnum Mining and Exploration Limited ( (AU:MGU) ) has shared an update.
Magnum Mining & Exploration Limited announced promising preliminary results from leach test work on REE samples from its Feirinha Prospect in Brazil. The tests revealed high levels of Total Rare Earth Oxides (TREO) and valuable Heavy REE, positioning the Palmares REE Project as a potential tier-one discovery. The results support Magnum’s plans for an extensive auger drilling program to further explore the mineralization potential. This development enhances Magnum’s competitive positioning in the REE market and could attract significant investor and strategic partner interest.
More about Magnum Mining and Exploration Limited
Magnum Mining & Exploration Limited is a company operating in the mining industry, focusing on the exploration and development of mineral resources. Its primary focus is on rare earth elements (REE) projects, particularly in Brazil, where it owns the Palmares REE Project. The company aims to capitalize on the growing demand for REEs, which are crucial for various high-tech and green technologies.
Average Trading Volume: 17,556,610
Technical Sentiment Signal: Sell
Current Market Cap: A$20.86M
See more insights into MGU stock on TipRanks’ Stock Analysis page.