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An update from MRG Metals Limited ( (AU:MRQ) ) is now available.
MRG Metals has secured firm commitments to raise approximately A$0.73 million through a non-underwritten placement of 146 million shares at A$0.005 each, with free attaching options, primarily to sophisticated and professional investors, alongside an additional A$130,000 committed by its own board and the directors of Sheerartar Minerals subject to shareholder approval. The funds will be used to complete the acquisition of Sheerartar, advance the newly acquired Garies Rare Earth Project in South Africa to a mining licence application, support ongoing rare earth exploration in Mozambique, and back its fully funded heavy mineral sands joint venture, reinforcing MRG’s strategy to build a diversified critical minerals portfolio and advance multiple development and production catalysts over the next two years.
More about MRG Metals Limited
MRG Metals Limited is an ASX-listed diversified resource developer focused on critical minerals, including heavy mineral sands and rare earth elements, with a key titanium-rich sands province in Mozambique under a fully funded joint venture. The company is expanding its portfolio across Mozambique and South Africa, targeting district-scale rare earth opportunities such as the Adriano–Fotinho Rare Earth Corridor and the high-grade, monazite-hosted Garies Rare Earth Project, positioning itself as a multi-asset developer in the critical minerals supply chain.
Current Market Cap: A$10.91M
See more data about MRQ stock on TipRanks’ Stock Analysis page.