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The latest announcement is out from Aldoro Resources Ltd. ( (AU:ARN) ).
Aldoro Resources Ltd has announced an expansion of its Phase II drilling program at the Kameelburg REE-Niobium Project, adding 11,000 meters of appraisal and metallurgical diamond drilling. The company has entered into a drill-for-equity agreement with AMW Mining Pte Ltd to fund the drilling operations, which includes acquiring a Diamec Smart 8 drilling rig. This agreement allows Aldoro to issue shares instead of cash payments, preserving its cash resources. The strategic partnership with AMW offers drilling services at significantly reduced rates, enhancing Aldoro’s operational efficiency and supporting resource development and potential pilot-scale metallurgical testing.
More about Aldoro Resources Ltd.
Aldoro Resources Ltd is a company operating in the mining industry, focusing on the exploration and development of high-grade rare earth elements and niobium projects. The company is particularly active in the Kameelburg REE-Niobium Project located in Namibia.
Average Trading Volume: 364,170
Technical Sentiment Signal: Buy
Current Market Cap: A$104M
For an in-depth examination of ARN stock, go to TipRanks’ Overview page.