MRG Metals (ASX:MRQ) - Non Executive Director, Andrew Van Der Zwan
Non Executive Director, Andrew Van Der Zwan
Source: Andrew Van Der Zwan/LinkedIn
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • MRG Metals (MRQ) enters into a trading halt as it plans an upcoming capital raise
  • Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
  • Company shares will be paused until Monday, January 17, or when further details about the raise is released to the market
  • MRG Metals is currently exploring for heavy mineral sands in Mozambique
  • On the market, MRG last traded at 1 cent per share

MRG Metals (MRQ) has entered into a trading halt today as it plans an upcoming capital raise.

So far, it is not known how much the company is aiming to raise or where the funds will be spent.

In accordance with the halt, company shares will be paused until Monday, January 17, or when further details about the raise is released to the market.

MRG Metals is an Australia-based exploration company and is currently exploring for heavy mineral sands in Mozambique.

Recently, the company increased the KoKo Massava deposit’s mineral resource estimate (MRE) to 1534 tonnes at 5.1 per cent total heavy minerals (THM) for 78 million tonnes.

This marks a 110-million tonne increase to the deposit’s maiden resource, which was announced in April 2020.

The MRE at Koko Massava delivered an exploration target of 120 to 603 million tonnes between 4.5 and 6 per cent THM.

On the market, MRG last traded at 1 cent per share.

MRQ by the numbers
More From The Market Herald

" Carnaby Resources (ASX:CNB) ends week in a trading halt

Carnaby Resources (ASX:CNB) enters a trading halt as it plans an upcoming capital raise.

" Askari Metals (ASX:AS2) plans to raise capital for lithium purchase

Askari Metals (AS2) has entered a trading halt as it plans an upcoming capital raise.
Telix Pharmaceuticals (ASX:TLX) - CEO, Christian Behrenbruch

" Telix Pharmaceuticals (ASX:TLX) planning capital raise

Telix Pharmaceuticals (ASX:TLX) enters a trading halt while it plans an upcoming capital raise.
Alice Queen (ASX:AQX) - Managing Director, Andrew Buxton

" Alice Queen (ASX:AQX) halts trade ahead of fresh capital

Mineral exploration company Alice Queen (ASX:AQX) has entered a trading halt ahead of a proposed capital…