Connected Minerals shares are holding steady between A$0.13 and A$0.135, giving the company a market capitalisation of approximately A$7.3 million to A$7.9 million—equivalent to roughly N$91 million to N$99 million based on prevailing exchange rates.
One of the company’s notable shareholders is Geonomics Australia Pty Ltd, which holds approximately 5.7 per cent of the issued capital.
Collectively, the top 20 shareholders account for just over half of the company’s register, largely composed of Australian private and nominee investors.
Connected’s exploration efforts are concentrated in Namibia at the Etango North-East uranium project, where the company made encouraging progress earlier this year at the Ondapanda Prospect.
In Phase 1 drilling, uranium mineralisation was intersected in 14 of 15 reverse circulation holes, with best results including 5 metres at 358 parts per million equivalent U₃O₈, including a subinterval of 2 metres at 643 ppm, and a separate intercept of 1 metre at 814 ppm.
These findings confirmed near-surface mineralisation extending over more than a kilometre of strike.
Phase 2 drilling is scheduled to begin in mid-to-late August 2025.
Connected Minerals has re-engaged Hammerstein Drilling, a Swakopmund-based contractor that also handled the initial campaign. The upcoming programme includes 18 reverse circulation holes, totalling approximately 2,800 metres.
Drilling will target extensions of previously identified mineralised zones at Ondapanda, while also testing new priority anomalies mapped at the Pandula and Onkumbwa prospects.
No new regulatory filings were issued during the first week of August.
However, the company is expected to release its following annual financial report on 28 August 2025, which is likely to provide updated insights into capital expenditure, corporate direction, and exploration planning.
Although Etango North-East remains in an early exploration phase with no defined mineral resource, its position within Namibia’s well-established uranium province, combined with the strength of its initial drill results, provides a foundation for future value creation.
Connected Minerals emerged from a broader surge in interest in Namibia’s uranium sector following the global resurgence of nuclear energy as a viable low-carbon power source.
Namibia ranks among the world’s top uranium producers, and the Erongo Region—home to the Etango North-East licence—hosts several significant uranium operations, including the Husab and Rossing mines.
The Etango North-East project lies near Bannerman Energy’s advanced-stage Etango-8 development and benefits from existing regional infrastructure, technical datasets, and a supportive regulatory environment. Connected Minerals has positioned itself as a junior explorer with a lean operating structure, seeking to capitalise on exploration upside while minimising early-stage capital exposure.
The company is listed on the Australian Securities Exchange (ASX) through a backdoor listing and has since focused on high-impact exploration milestones.
The decision to continue drilling with local Namibian contractors underscores its commitment to regional capacity and operational continuity.
