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C29 Metals Advances Exploration Amid Ownership Transfer Setback
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C29 Metals Advances Exploration Amid Ownership Transfer Setback

Story Highlights
  • C29 Metals ended the quarter with strong cash reserves and key exploration approvals.
  • An initial ownership transfer refusal led C29 Metals to pause exploration and focus on resolution.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.

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The latest update is out from C29 Metals Limited ( (AU:C29) ).

C29 Metals Limited concluded the December 2024 quarter with a solid cash position of $2.562 million and achieved significant milestones in its exploration activities. The company received necessary environmental permits for drilling at the Ulytau uranium project and commenced geophysical surveys. However, a setback occurred when their application for the transfer of ownership of Ulytau Resources Limited was initially refused by the Ministry, prompting the company to pause exploration activities to address the issue, while maintaining a strong financial position to continue work once approvals are obtained.

More about C29 Metals Limited

C29 Metals Limited operates in the mining industry, focusing on energy transition metals. The company is engaged in exploration and development activities, with a particular emphasis on uranium projects, as exemplified by their work on the Ulytau uranium project.

YTD Price Performance: -32.00%

Average Trading Volume: 1,054,515

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$6.1M

See more data about C29 stock on TipRanks’ Stock Analysis page.

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