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MRG Metals Limited (ASX:MRQ)

ALERT: Price-sensitive ASX Announcement for MRQ
Current share price for MRQ : $0.004 -0.002 (-30%)+
Announcement
Release
30 Oct 2025 9:24AM
Price at Release
$0.005
Full Release
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Summary
MRG Metals Limited, in its quarterly report for the period ending 30 September 2025, highlighted significant progress in its Mozambique projects. Key developments include the granting of the Corridor South Mining Licence, advancing the 2-billion-tonne Corridor Sands Project in partnership with Sinowin Lithium. The joint venture aims to achieve initial production targets of up to 160,000 tonnes of heavy mineral concentrate annually, with a five-year goal set at 800,000 tonnes per annum. Exploration at the Adriano Rare Earth Element licence identified potential alluvial rare earth deposits, while the Linhuane and Marao projects offer long-term growth prospects. Financially, MRG Metals raised $817,956 through an entitlement offer to support exploration efforts and maintain its joint venture operations, ending the quarter with $695,000 in cash and equivalents.
Key Points
  • Corridor South Mining Licence granted, marking a major milestone for the Corridor Sands Project.
  • Joint venture with Sinowin Lithium aims for a production target of 160,000 tonnes per annum.
  • Five-year production goal set at 800,000 tonnes per annum for the Corridor Sands Project.
  • Significant exploration progress at Adriano identifies potential alluvial rare earth deposits.
  • Successful capital raise of $817,956 to advance exploration and joint venture activities.
  • Quarter ends with $695,000 in cash and equivalents, indicating a strong financial position.
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.