Magnum Mining and Exploration Limited Acquires Wet Mountain Rare Earth Project
Magnum Mining and Exploration Limited (ASX: MGU) has entered into a Binding Term Sheet to acquire Wyoming Critical Minerals, Inc. (WCM), which holds exclusive ownership of the Wet Mountain Rare Earth Element (REE) Project in central Colorado, USA. This acquisition provides Magnum with access to a highly prospective REE project, featuring historical assay results of up to 7.99% Total Rare Earth Elements (TREE) in surface carbonatite dykes. Despite the promising assay results, the project remains largely unexplored, with no drilling or systematic sampling undertaken so far.
The area is characterised by high-priority target zones formed at structural intersections where fault lines and intrusive geological features meet, creating ideal conditions for REE deposits. Magnum plans to fast-track its exploration activities, including sampling, trenching, and drilling, to fully evaluate and realise the potential of the project. This acquisition strengthens Magnum’s strategic focus on U.S. critical minerals, positioning the company well for future exploration opportunities and possible government support within the critical minerals sector.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Magnum Mining and Exploration Limited Acquires Wet Mountain Rare Earth Project
Magnum Mining and Exploration Limited (ASX: MGU) has entered into a Binding Term Sheet to acquire Wyoming Critical Minerals, Inc. (WCM), which holds exclusive ownership of the Wet Mountain Rare Earth Element (REE) Project in central Colorado, USA. This acquisition provides Magnum with access to a highly prospective REE project, featuring historical assay results of up to 7.99% Total Rare Earth Elements (TREE) in surface carbonatite dykes. Despite the promising assay results, the project remains largely unexplored, with no drilling or systematic sampling undertaken so far.
The area is characterised by high-priority target zones formed at structural intersections where fault lines and intrusive geological features meet, creating ideal conditions for REE deposits. Magnum plans to fast-track its exploration activities, including sampling, trenching, and drilling, to fully evaluate and realise the potential of the project. This acquisition strengthens Magnum’s strategic focus on U.S. critical minerals, positioning the company well for future exploration opportunities and possible government support within the critical minerals sector.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au