Key Highlights

  • Connected Minerals shares rose 7.84% to $0.275 in the 3 November 2026 trading session, while the S&P/ASX 200 gained 0.14%.
  • Maiden drilling has begun at the Bailundo Carbonatite Project in Angola, with first assays expected in mid-November.
  • The company acquired the historical Bailundo database after quarter end, including ten diamond holes totalling 3,414 metres.

During the Trading session on 3 November 2026, Connected Minerals Ltd (ASX:CML) shares rose 7.84% to $0.275. The S&P/ASX 200 (ASX:XJO) was up 0.14%, or 12.50 points, at 8,869.00 at 2:42 pm (GMT+11) on the same day. Connected Minerals is exploring the Bailundo Carbonatite Project in Angola. Its quarterly activities report, dated 29 October 2026, covers the period ended 30 September 2026.

Maiden drilling

Maiden drilling has started at Bailundo, and samples from seven holes have been dispatched for analysis. First assays are expected in mid-November 2026.

Historical database

After quarter end, the company acquired the historical Bailundo database, which includes ten diamond holes totalling 3,414.4 metres, 1,089 soil samples and 458 rock chip samples.

Historical results

Historical drilling reported 205.5 metres at 1.0% niobium pentoxide from surface, and 227.3 metres at 2.0% total rare earth oxide from surface. These are historical results and have not been verified by the company.

Geophysics

Ground geophysics identified highly variable and locally deep weathering, which the company is using to refine its drill targets.

Sector context

The S&P/ASX 200 gained 0.14% during the session. The report does not discuss niobium or rare earths markets.

Risks

Historical results were produced by earlier operators, and the company has not yet confirmed them. Weathering varies across the project, and first assays are still pending.

What lies ahead

First assays are expected in mid-November 2026, and the company will refine its drill program based on the geophysics.

Final Word

The quarter focused on the start of drilling and the purchase of historical data.