Foremost Clean Energy Extends YTD Surge After Receiving Exploration Drill Permit In Canada; Retail Bets On Further Rally

The company received two exploration drill permits for uranium mining in Canada this month.

Foremost Clean Energy (FMST) stock climbed 8.4% higher to $3.62 at Wednesday’s close after receiving a three-year exploration drill permit for CLK Property in Saskatchewan, Canada.

The CLK site is located in the Athabasca Basin region of northern Saskatchewan, an area known for multiple occurrences of high-grade uranium mineralization.

The permit, valid until December 31, 2027, will enable Foremost Clean Energy to conduct mineral exploration activities, including ground geophysics and drilling of up to 30 holes.

A fully-funded exploration program for CLK is expected to begin in the third quarter of 2025.

Last week, the company received a three-year exploration permit for the Murphy Lake South Property, authorizing the company to conduct exploration work, including geochemical studies, geophysical surveys, and drilling up to 30 holes.

Retail sentiment remained ‘bullish’ on Stocktwits, amid ‘high’ message volumes.

One user believes the stock’s fair value is $8.

Another user expects the stock to surge in Thursday’s trade.

Foremost Clean Energy stock has rallied heavily, surging over 162% year-to-date as of Wednesday’s close. It was up 1.38% in aftermarket trade.

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