Connected Minerals on the hunt for uranium

After raising $5.1 million in capital, Connected Minerals is set to launch extensive exploration programs across its newly acquired uranium-focused assets in Namibia and its multi-commodity projects in Western Australia.

The funds were raised through a shortfall and placement offer totalling $4.34 million at $0.20 per share, alongside a $748,475 entitlement offer to eligible shareholders.

Connected Minerals’ primary focus is on advancing its portfolio in Namibia, one of the world’s leading uranium regions.

The company now holds an 80 per cent interest in one exclusive prospecting licence (EPL 6933) and has two additional licence applications (EPL 9162 and EPL 9576) underway.

These licences are strategically located near major uranium projects, including the Rossing and Husab uranium mines, enhancing the potential for significant mineralisation in the region.

Immediate exploration activities, such as geological mapping, ground geophysics, and geochemical sampling, are planned to define key targets and move toward initial drilling.

In Western Australia, Connected Minerals has acquired three exploration licences, offering potential for multiple minerals, including copper, lead, and silver.

These licences broaden the company’s asset base and provide exploration targets across a range of commodities, further diversifying its growth strategy.

With a well-financed exploration agenda, Connected Minerals aims to quickly advance its Namibian and Australian projects, contributing to the global demand for uranium and positioning itself as a promising player in the junior exploration sector.

Connected Minerals resumed trading on the Australian Securities Exchange, under the new code “CML” (previously ASX: CIO), marking a significant step forward as the company transforms into a focused exploration entity.

The company’s re-listing and new strategic direction signal its readiness to capture emerging opportunities in mineral exploration across two resource-rich regions.