I have been holding this title for some time and today's announcement has been a bit of a surprise as they have been chasing gold, copper and U308.
This company is the Australian Subsidary of Chinalco a Chinese State owned company. The two major share holders are Chinalco and Yunnan Copper Group.
They are the only company that got last year a mining licence in Laos and their asset is very close to the planned highshpeed train that is being build to connect Northern Laos to Kunming (China) where Yunnan Copper has a smelter. How relevant the the highspeed trainline is to the development of this asset is difficult to say however I do not believe in conincidences.
The reported results show that they have found REE but are a bit vague. However given the fact that REE are thought after and with a high degree of certainty it can be assumed that majority ownership lies with Chinese State Entities, it is safe to conclude that they will develop a mine to exploit the resource.
All IMO
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.230M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.5¢ | 0.4¢ | $3.725K | 890.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 261398 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 1011100 | 2 |
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| Last trade - 11.42am 30/09/2024 (20 minute delay) ? |
| AKN (ASX) Chart |