What’s going on with ASX uranium share Marenica Energy’s (ASX:MEY) share price today?

The Marenica Energy Ltd (ASX: MEY) share price was on the move earlier today. However, after posting gains of 3.3% in afternoon trading, the share price is currently flat. This comes after the ASX uranium explorer reported successful early results at one of its projects in Namibia. In addition, Marenica currently holds the largest area of uranium exploration leases in the African nation. What uranium exploration results did Marenica Energy report?

Marenica’s shares moved higher earlier today after the company reported it had discovered an extensive palaeochannel system during its maiden geophysical exploration program at its Namib IV prospect.

The exploration program is intended to reveal uranium mineralisation zones. Additionally, the company said the system it has discovered extends for more than 19 kilometres. Management commentary

Commenting on the exploration results, Marenica’s managing director, Murray Hill said: The structure of this palaeochannel system at Namib IV is extremely promising […]

Click here to view original web page at www.msn.com

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.