In the mining stock market, investors have started to focus heavily on vanadium penny stocks. United Battery Metals (CSE:UBM) is one company making a name for itself. In fact, this uranium and vanadium company is not one to underestimate.
Vanadium Penny Stocks: United Battery Metals
On Monday, October 15th, United Battery Metals said that it expanded its land position in the Wray Mesa region. Regardless of the details, this is huge news for the mining company. But, in this instance, the details make the announcement all the more impressive.
United Battery Metals said that it was able to triple its land position in the region, going from roughly 900 acres to more than 3,000. “We are very excited to increase our exploration footprint,” said CEO Matthew Rhoades; it appears the market is excited for the company to do so as well.
As of 2:17 p.m. EDT, according to Yahoo Finance, United Battery Metals is trading at $1.09, which puts this vanadium penny stock company up 5.83%. Not bad for a Monday, right?
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The Wray Mesa Region
Located on the Colorado Plateau, UBM’s original land position had 45 claims that totaled to 900 acres in Montrose Country, Colorado. Now the total land package is at over 3,000 acres, and United Battery Metals has 100% ownership. “With this land acquisition,” said Rhoades, UBM is “able to fully leverage the deep understanding” of the “geology and ore bodies at Wray Mesa.”
The Takeaway
What do you think about the UBM news? Can the Canadian mining company increase its land position for the Wray Mesa even more? Even if it doesn’t, do you think the increase that it did have makes United Battery Metals a new vanadium penny stock to watch?
Let us know what you think in the comments below and don’t forget to check back in for more mining penny stocks tomorrow!
Featured Image: Depositphotos/© Elnur_
