Marenica Energy transforms into Elevate Uranium as sector grows and money flows

Marenica’s stock is now trading under the new name Elevate Uranium and ticker code ‘EL8’. In November 2020, Marenica Energy (ASX: MEY) raised $5.4 million at $0.088 per share.

On Friday, just over six months later, that same stock closed at $0.35 per share — just one more uranium company that is experiencing renewed investor enthusiasm after years of low levels of interest in what for a long time was a beaten down sector.

For those who had faith last November, that faith has been amply rewarded.

Today, the stock began trading under the new name Elevate Uranium (ASX: EL8) , a change of title that reflects how the company has grown beyond its original Marenica project in Namibia — plus, using “uranium” in a company name is now a positive.Managing director Murray Hill says the company’s name change is in recognition of the “significant” geographically diverse uranium assets it now owns.‘Elevate’ […]

Click here to view original web page at smallcaps.com.au

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.