FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Moab hear REX’s roar

21 September 2022 10:32
ASX: MOM

Moab Minerals is back on the ASX today, with plans laid to strike into a rapidly reemerging nuclear energy market.

Previously known as Delecta Minerals, the company’s changed name represents a change in focus, to emerge as a US uranium player with its REX project 130 kilometres from the namesake town of Moab in Colorado.

REX is made up of 20 square kilometres of the famed Uravan mineral belt, most famous for the Mt Vida uranium district which produced 22 thousand tonnes of triuranium octoxide.

Recent exploration has shown why REX is deserving of focus, with initial sampling returning a peak grade of 5280 parts per million U3O8 amid visible uranium mineralisation.

The company said it was strongly positioned for a crucial time in the global uranium market.

“With nuclear energy continuing to gain significant momentum as the global shift towards carbon-free power accelerates,” managing director Malcolm Day said.

Moab plan to lodge a drilling application next month with mapping and sampling well underway to determine mineralisation extent and define targets for drilling.

MOM’s Australian Stock Exchange-listed share price is trading at 1.7c (9.58 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This