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MRG Metals Limited (ASX:MRQ)

ALERT: Price-sensitive ASX Announcement for MRQ
Current share price for MRQ : $0.003 -0.001 (-14.29%)+
Announcement
Release
31 Jul 2026 5:04PM
Price at Release
$0.004
Full Release
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Summary
MRG Metals Limited reported significant progress in its June 2026 Quarterly Activities and Cashflow Report. The company completed an auger drilling program at the Fotinho licence, revealing promising heavy mineral results, including high-grade assays of total heavy minerals (THM). Exploration and evaluation expenditures totaled $317,564 for the quarter. MRG also identified significant gallium mineralisation in conjunction with rare earth elements at its Garies project. Despite no mining production or development activities occurring during the quarter, MRG Metals continues to advance its projects, including a joint venture with Sinowin Lithium for titanium dioxide in Mozambique. Additionally, the company lodged an application for a Mining Right Conversion for the Garies Rare Earth Project. Net cash used in operating activities was reported at $188,000 for the quarter.
Key Points
  • Completion of auger drilling program at Fotinho with promising heavy mineral results
  • Exploration and evaluation expenditure for the quarter amounted to $317,564
  • Significant gallium identified with rare earth mineralisation at Garies project
  • Ongoing joint venture with Sinowin Lithium for titanium dioxide in Mozambique
  • No mine production or development activities during the quarter
  • Application for Mining Right Conversion lodged for Garies Rare Earth Project
  • Net cash used in operating activities was $188,000 for the quarter
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.