Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from MRG Metals Limited ( (AU:MRQ) ).
MRG Metals has completed the acquisition of Sheerartar Minerals, securing the high-grade Garies Rare Earth Project in South Africa, a Tier-1 mining jurisdiction adjacent to the Steenkampskraal Monazite Mine. The scrip-based deal gives MRG 70% ownership and operational control of the project through Tundratype, with an initial 75 million shares issued and a further 175 million contingent on the grant of a mining licence, plus additional performance-based share milestones. Early bulk sampling at Garies has returned up to 4.85% total rare earth oxides, equivalent to about 8% monazite, with a magnet-rich composition containing elevated neodymium, praseodymium, dysprosium and terbium, positioning it among the world’s highest-grade rare earth projects and aligned with strong demand in EVs, wind power, and defence applications. MRG plans to secure a mining licence, move to resource definition and permitting, and advance to pilot-scale production, providing a capital-efficient path to early cash flow while diversifying and strengthening its critical minerals portfolio beyond Mozambique and enhancing its strategic positioning in the global rare earth supply chain.
More about MRG Metals Limited
MRG Metals Limited is an ASX-listed exploration and development company focused on critical minerals, including heavy mineral sands and rare earth elements. Its portfolio includes a fully funded heavy mineral sands joint venture in Mozambique and the Adriano–Fotinho Rare Earth Corridor, where early drilling and lab results indicate district-scale rare earth potential.
Current Market Cap: A$10.91M
For a thorough assessment of MRQ stock, go to TipRanks’ Stock Analysis page.