The market clearly sees the announcement as price sensitive with SP up as high as 4.4c in trade this morning (approx 20%) and arresting a decline in the previous 3 days as a result of profit takers moving in.
It is price sensitive because today CXU have released an exciting updated Exploration Target for Yanrey. They are chasing an EXTRA 50 Mlbs of uranium on top of the >30 Mlbs already in JORC. This is big - real big and as the announcement says it is globally significant.
Remember that CXU got the rug pulled out from under them by the government back in 2017 when CXU were only just getting started with Yanrey. Back then they had a market cap of $60m. CXU is just picking up again now albeit with a uranium price of > US$100 as opposed to US$30 back in 2017.
IMO this stock is way undervalued and I am looking to an exciting ride over the next 12 months.
CXU Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
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