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MinRex Resources Limited ( (AU:MRR) ) has provided an update.
MinRex Resources has completed its merger with Canadian explorer Electrum Discovery Corp., acquiring 100% of its shares and creating a better-funded gold and copper exploration group with assets spanning Serbia and New South Wales. The combined entity now holds more than 1Moz of gold resources, including the high-grade Tlamino Gold Project in Serbia and the Sofala Gold Project in the Lachlan Fold Belt, and Electrum shareholders now own about 49% of the enlarged group.
The transaction delivers MinRex a 700km² landholding in Serbia’s Western Tethyan Belt, including the Tlamino and Timok East copper-gold projects near Zijin Mining’s Bor complex, enhancing its geographic and commodity diversification. With $8 million in cash and the appointment of Serbia-experienced director Dr Elena Clarici, MinRex aims to advance Tlamino toward resource expansion and feasibility while integrating extensive datasets at Timok East to underpin disciplined drilling and long-term shareholder returns.
More about MinRex Resources Limited
MinRex Resources Limited is an ASX-listed mineral exploration company focused on gold and copper projects, with key assets in Australia and, following a recent merger, Serbia. The company now controls advanced-stage exploration and development projects with a gold endowment exceeding 1 million ounces and maintains a strong cash position to fund its growth strategy.
Average Trading Volume: 1,544,944
Technical Sentiment Signal: Hold
Current Market Cap: A$36.36M
For an in-depth examination of MRR stock, go to TipRanks’ Overview page.