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- MRG Metals (MRQ) has requested a trading halt ahead of an upcoming capital raise
- The company will remain in the halt until September 16 or when the announcement is made
- On August 31, MRG Metals received further encouraging results from the Corridor South tenement in Mozambique
- Best results include 49.16 per cent ilmenite and leucoxene, 2.18 per cent zircon, and 0.94 per cent rutile
- These results have demonstrated the robust and quality nature of the valuable heavy minerals at Corridor South
- Shares in MRG Metals last traded for 0.6 cents on September 10
MRG Metals (MRQ) has requested a trading halt ahead of an upcoming capital raise.
The company will remain in the halt until September 16 or when the announcement is made.
At this point, the company is yet to announce how much it wants to raise or what it will use the funds for.
On August 31, MRG Metals received further encouraging results from the Corridor South tenement in Mozambique.
Best results include 49.16 per cent ilmenite and leucoxene, 2.18 per cent zircon, and 0.94 per cent rutile.
MRG says these results demonstrate the robust and quality nature of the valuable heavy minerals at Corridor South.
MRG Metals last entered a trading halt in mid-April ahead of a maiden mineral resource estimate at Koko Massava.
A few days later, an updated JORC mineral resource was announced, totalling 1423 million tonnes at 5.2 per cent total heavy mineral (THM).
This comprises an indicated mineral resource of 289 million tonnes at 4.9 per cent THM and inferred of 1133 million tonnes at 5.3 per cent THM.
In addition, an exploration target of 234 million tonnes to 967 million tonnes at 4.5 per cent to 5.9 per cent THM was also identified.
Shares in MRG Metals last traded for 0.6 cents on September 10.
