It was not a particularly eventful day in the markets for the African Energy Metals Inc (OTCMKTS:NDENF) (TSXV:CUCO) stock on Monday as it traded within a range but at the same time it ought to be noted that the company was in the news.
On Monday, NDENF stock ended flat at $0.0903 with 90 shares, compared to its average volume of 265 shares. The stock moved within a range of $0.0903 – 0.0903 after opening trade at $0.0854.
African Energy Metals Commences Trading
The company announced yesterday that it had gone through a corporate name change and as a result, the stock is also going to begin trading under a new ticker symbol on the TSX Venture Exchange. It was announced yesterday that the company would start trading on the TSX Venture Exchange under the ticker symbol CUCO.
The company started trading under the new ticker symbol from yesterday. However, the significant development did not lead to any major reaction from investors and it is going to be interesting to see over the course of this week if the stock goes through any major move either way.
The company is primarily involved in the ‘energy metals’ mining space and is heavily involved in mining copper, cobalt and lithium energy related metals. Considering the fact that the world is moving heavily towards electric vehicles, it may prove to be a sector that grows quite fast in the coming years.
Stephen Barley, Executive Chairman stated: “The move to electrification and EV’s coupled with decarbonization to achieve net zero global warming goals, has and will continue to increase the demand for energy metals and in particular copper, cobalt, and lithium energy metals. The DRC produces over 70% of the worlds annual supply of cobalt, has what will become the world’s largest and richest copper mine, and has the world’s largest lithium deposit. The Company has had a presence in the DRC for over eight years and is poised to take advantage of what will be a deficit in the supply of energy metals. The change of our corporate name to African Energy Metals is an indication of a renewal of our original focus on the metals of the utmost importance for clean energy. Our compelling and aggressive carbon credit program reflects African Energy Metals commitment to the environment and sustainable alternate energy.”