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MRG Metals Limited (ASX:MRQ)

ALERT: Price-sensitive ASX Announcement for MRQ
Current share price for MRQ : $0.002 -0.001 (-20%)+
Announcement
Release
18 Aug 2026 9:14AM
Price at Release
$0.003
Full Release
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Summary
MRG Metals Limited announced that it has raised funds through a Placement and is offering a Share Purchase Plan (SPP) to support the development of the ultra high-grade Garies Rare Earth Element (REE) project and exploration activities at the Adriano and Fotinho REE projects. The Placement involved issuing 362,750,000 fully paid ordinary shares at $0.002 each, raising $725,000 from sophisticated investors. The SPP allows eligible shareholders to apply for up to $A30,000 of new shares at the same issue price. The funds will primarily be used to advance the Garies project in South Africa, including completing the Mining Licence Application, resource expansion drilling, and other exploration programs. The company is also seeking strategic partners to further develop the project. The SPP is expected to close on 17 September 2026, and new shares will commence trading on 25 September 2026.
Key Points
  • MRG Metals Limited completed a capital raising through a Placement.
  • Share Purchase Plan (SPP) announced for additional fundraising.
  • Funds directed towards the Garies Rare Earth Element project in South Africa.
  • 362,750,000 fully paid ordinary shares issued at $0.002.
  • Total funds raised from Placement: $725,000.
  • SPP allows shareholders to purchase up to $A30,000 in new shares.
  • SPP capped at $750K, but may increase depending on demand.
  • Proceeds to fund resource expansion and drill programs at the Garies project.
  • Company seeks strategic partners for project development.
  • New shares from the SPP expected to trade on ASX by 25 September 2026.
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.