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MinRex Resources Limited ( (AU:MRR) ) has issued an announcement.
MinRex Resources has advanced a proposed merger with Canadian TSX-V listed Electrum Discovery Corp., a gold and copper exploration company focused on Serbia’s Western Tethyan Belt, culminating after the quarter in a definitive agreement for MinRex to acquire 100% of Electrum via a statutory plan of arrangement. The deal, unanimously backed by both boards and strongly supported by Electrum shareholders, is expected to close in March 2026 and will create a well‑capitalised, ASX‑listed gold‑copper explorer with a dual focus on Serbia and Australia, anchored by Electrum’s advanced Tlamino Gold Project and the Timok East Copper‑Gold Project alongside MinRex’s Australian exploration portfolio; MinRex also continued technical work on its Australian assets, particularly in the Lachlan Gold Belt, and ended the quarter with $8.3 million in cash, underscoring a solid funding position for ongoing exploration and integration activities.
The most recent analyst rating on (AU:MRR) stock is a Hold with a A$0.02 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 Australian mineral exploration company listed on the ASX, focused on gold and base metals with a portfolio of projects in Australia, including gold and base metal tenements in New South Wales’ Lachlan Gold Belt. The company aims to build a pipeline of advanced gold and copper assets, positioning itself as a gold‑copper explorer across Tier 1 mining jurisdictions.
Average Trading Volume: 2,979,334
Technical Sentiment Signal: Buy
Current Market Cap: A$23.87M
See more data about MRR stock on TipRanks’ Stock Analysis page.