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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
20 Aug 2026 9:11AM
Price at Release
$0.003
Full Release
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Summary
MRG Metals Limited has announced a capital raising effort through a Share Purchase Plan (SPP) aimed at generating up to $750,000. The SPP, which was fully documented and dispatched to eligible shareholders, allows them to purchase up to $30,000 of new shares without incurring brokerage fees. This initiative follows a recent Placement that raised $725,500. The funds from these efforts will primarily support the Garies Rare Earth Project in South Africa by enabling diamond drilling to establish a JORC Mineral Resource Estimate and other exploration activities. The SPP is set to close on 17th September 2026, with shares expected to be issued on 24th September 2026. The company is also seeking strategic partnerships and advancing discussions for a pilot plant at its projects in Mozambique.
Key Points
  • Share Purchase Plan to raise up to $750,000.
  • Eligible shareholders can apply for up to $30,000 of new shares.
  • Funds to be used for Garies Rare Earth Project in South Africa.
  • Diamond drilling to establish JORC Mineral Resource Estimate.
  • SPP closes on 17th September 2026; shares issued on 24th September 2026.
  • Seeking strategic partners for project advancement.
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.