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Mount Ridley Mines Limited (ASX:MRD)

ALERT: Price-sensitive ASX Announcement for MRD
Current share price for MRD : $0.025 -0.006 (-19.35%)+
Announcement
Release
18 Dec 2025 9:41AM
Price at Release
$0.031
Full Release
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Summary
Mount Ridley Mines Limited announced the execution of an underwriting agreement with GBA Capital Pty Ltd for the fully underwritten exercise of their 3 cent options expiring on 31 December 2025. This initiative provides funding certainty to support continued exploration, technical advancement, and corporate activities. The underwriting covers 59,559,224 unexercised options, amounting to a maximum of $1,786,776, with a 6% underwriting fee applied. The issuance of shortfall shares will not require shareholder approval under ASX Listing Rule 7.2 (Exception 10). Concurrently, Mount Ridley progresses its exploration and metallurgical test work, aiming to enhance resource definition and expand its operations.
Key Points
  • Execution of underwriting agreement for fully underwritten exercise of 3 cent options.
  • GBA Capital Pty Ltd to underwrite the exercise of MRDAB unlisted options expiring on 31 December 2025.
  • Underwriting provides funding certainty for exploration, technical, and corporate progress.
  • There are 59,559,224 unexercised options, with a maximum underwriting amount of $1,786,776.
  • Underwriting fee set at 6% of the total amount underwritten.
  • Shortfall shares to be issued under ASX Listing Rule 7.2 (Exception 10), without need for shareholder approval.
  • Ongoing exploration activities and metallurgical test work underway at Mount Ridley Project.
  • Collection of drill samples for metallurgical test work and downstream evaluation.
  • Company aims to maintain operational momentum and strategic exploration progress.
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.