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MinRex Resources Limited (ASX:MRR)

ALERT: Price-sensitive ASX Announcement for MRR
Current share price for MRR : $0.016 -0.006 (-27.27%)+
Announcement
Release
29 Jan 2026 5:48PM
Price at Release
$0.022
Full Release
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Summary
MinRex Resources Limited, during the quarter ending 31 December 2025, reported significant progress on their proposed merger with Electrum Discovery Corp. This merger aims to create a well-capitalized gold and copper exploration company focusing on Serbia and Australia. MinRex conducted detailed technical, financial, and corporate due diligence on Electrum's project portfolio, which includes the Tlamino Gold Project and the Timok East Copper-Gold Project. The Tlamino Gold Project, in Southern Serbia, hosts high-grade gold resources, while the Timok East Project is an early-stage exploration project. Financially, MinRex remains well-funded with $8.3 million in cash. The Appendix 5B Cash Flow Report indicated net operating cash outflows, with significant expenditures on exploration and administrative costs. The company projects having sufficient funding for approximately 20.66 quarters based on current cash reserves.
Key Points
  • Proposed merger with Electrum Discovery Corp.
  • Focus on gold and copper exploration in Serbia and Australia.
  • Tlamino Gold Project hosts high-grade gold resources.
  • Timok East Copper-Gold Project is an early-stage project.
  • MinRex has $8.3 million cash on hand.
  • Appendix 5B indicates net operating cash outflows.
  • Estimated funding availability of 20.66 quarters.
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.