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Magnum Mining and Exploration Limited ( (AU:MGU) ) has shared an update.
Magnum Mining & Exploration Limited has received the necessary permits and finalized land access agreements to commence drilling on its Azimuth 125 and Palmares REE Projects in Brazil. The initial phase will test four of the 19 identified targets, with a focus on the Feirinha Prospect, which has shown promising results in previous sampling. The company plans to use auger and RC drilling to evaluate mineralized zones, with the results potentially enhancing its position in the emerging Brazilian REE market.
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 rare earth elements (REE) projects. The company is primarily engaged in identifying and developing REE resources, with a market focus on emerging REE regions, particularly in Brazil.
Average Trading Volume: 19,877,477
Technical Sentiment Signal: Sell
Current Market Cap: A$23.18M
Learn more about MGU stock on TipRanks’ Stock Analysis page.