MinRex and Electrum in A$28m Merger to Form Serbia–Australia Gold-Copper Explorer

MinRex Resources Limited ( (AU:MRR) ) has shared an update.

MinRex Resources has agreed to merge with TSX-V listed Electrum Discovery Corp. in a roughly A$28 million all-share merger of equals that will create a well-capitalised gold-copper exploration group focused on Serbia and Australia. The combined company, to remain listed as MinRex on the ASX, will hold advanced assets including Electrum’s Tlamino Gold Project in Serbia, which has a significant foreign-classified Inferred gold equivalent resource and a prior economic assessment, and MinRex’s Sofala Gold Project in New South Wales, which hosts substantial Inferred gold resources. With an expected pro-forma market capitalisation of about A$28 million, approximately A$8 million in cash and no debt, the merged group aims to accelerate resource growth drilling and discovery-focused exploration at Tlamino and advance both Serbian copper-gold targets and MinRex’s broader NSW portfolio, supported by a combined board and management team and strong backing from both companies’ directors and major Electrum shareholders.

The most recent analyst rating on (AU:MRR) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on MinRex Resources Limited stock, see the AU:MRR Stock Forecast page.

More about MinRex Resources Limited

MinRex Resources Limited is an ASX-listed gold and base metals exploration company with a primary focus on projects in New South Wales, Australia, including the Sofala Gold Project in the Lachlan Fold Belt. The company targets advanced gold assets with significant resource growth potential and is now expanding its focus to include gold-copper exploration in Serbia through a strategic merger.

Average Trading Volume: 2,005,471

Technical Sentiment Signal: Sell

Current Market Cap: A$14.1M

Learn more about MRR stock on TipRanks’ Stock Analysis page.