Connected Minerals Limited (ASX: CML; formerly Connected IO Limited, renamed August 2024), Perth-based, is a uranium-focused explorer with its primary land position in Namibia's most prolific uranium-producing province. FLAGSHIP: the Etango North-East Project, a 30km2 licence lying within the same prospective district as -- and immediately adjacent to -- Bannerman Energy's large Etango uranium deposit, with established regional infrastructure and proximity to operating uranium mines. Phase 1 and Phase 2 drilling (23 holes, 3,134m, completed 2025) returned economic uranium grades in 17 of 23 holes (a >80% hit rate) and confirmed geological similarities to the Bannerman deposit; mineralisation remains open at depth and along strike. No JORC resource estimate has been declared yet -- the company is still in the drill-and-define phase, with a A$4.5M placement (2026) earmarked partly for resource-definition work. SECONDARY: the Swakopmund Project (125km2, also Namibia, along trend to Orano's Trekkopje/Klein Trekkopje uranium deposits); the Bailundo Carbonatite Project in Angola (acquired following shareholder approval July 2026, now moving into a 6,000m resource-drilling phase -- a carbonatite-hosted target, typically REE/niobium-bearing, not yet characterised by commodity in public disclosures reviewed); and the Pallingup Project (88km2, Great Southern WA) prospective for heavy mineral sands and rare earth elements. STAGE: recorded GRASSROOTS -- drilling/discovery stage across all projects, no declared resource anywhere yet.
Lifecycle Milestones
Jurisdiction (40%)8/10
The flagship Etango North-East project is in Namibia's most established uranium-producing province, next to Bannerman Energy's large Etango deposit and near operating uranium mines, where the uranium permitting and mining framework is well proven.
Infrastructure (40%)No verified figure
Researched with nothing found: no source we could cite confirms or rules out an existing mill, road access, grid power, or tailings facility at Etango North-East Uranium Project, Namibia (checked Sep 26, 2026; recheck due Mar 25, 2027). Counts at a neutral 5/10 until one does.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:8/10
Namibia: jurisdiction score 8/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:4/10
Primary commodity: Uranium
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Non-Executive Chairman of Connected Minerals Limited (ASX: CML). 20+ years' experience in global commodity markets and corporate leadership; Chief Investment Officer of Ilwella Pty Ltd, the Flannery Family Office's natural-resources/energy/infrastructure investment vehicle (current). Source: connectedminerals.com.au/team-members/quentin-flannery; kalkine.com.au.
Chief Executive Officer and Executive Director of Connected Minerals Limited (ASX: CML). 25 years' experience across Africa, Australia, Europe and the UK in global mining and capital markets; most recently CEO/Managing Director of an ASX-listed company with operations in Angola.
Company Secretary of Connected Minerals Limited (ASX: CML). Source: connectedminerals.com.au/company/board-management (no further independently-confirmed bio detail located to this project's citation standard).
Non-Executive Director of Connected Minerals Limited (ASX: CML). B.Sc (Geol.); member, AusIMM; Competent Person under the JORC Code. Transitioned from Managing Director to Non-Executive Director following the company's Frontier Group transaction (part of its pre-uranium-pivot corporate-technology business). Source: connectedminerals.com.au; proactiveinvestors.com.au.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Connected Minerals, renamed from Connected IO in August 2024, is a uranium explorer whose flagship is the 30km2 Etango North-East licence in Namibia, immediately adjacent to Bannerman Energy's large Etango uranium deposit. Drilling in 2025, 23 holes for 3,134m, returned what the company describes as economic uranium grades in 17 of the 23 holes, and mineralisation remains open at depth and along strike, but no JORC resource has been estimated yet. Its other projects are the 125km2 Swakopmund uranium project in Namibia, along trend from Orano's Trekkopje deposits, the Bailundo carbonatite project in Angola, acquired after shareholder approval in July 2026 and moving into a 6,000m resource drilling phase, and the 88km2 Pallingup heavy mineral sands and rare earths project in Western Australia.