MRG Metals Limited (ASX: MRQ), a company focused on heavy mineral sands exploration in Mozambique, today announced a capital raising initiative through a pro-rata non-renounceable entitlement offer. The company aims to raise up to $817,956 by offering eligible shareholders three new options for every ten existing shares held. The offer price is $0.001 per new option, exercisable at $0.004, with an expiry date of 19 August 2027.
The funds raised will be allocated to several key projects. Approximately $100,000 is earmarked for the Linhuane HMS Project, focusing on auger drilling, mineralogy, and metallurgy to assess high-grade historical HMS targets. An additional $100,000 will be directed to the Adriano REE & TH Project for follow-up stream sediment anomalies, auger drilling, mineralogy, and metallurgy. The Fotinho REE & TH Project and the Olinga Uranium Project will each receive $75,000 for stream sediment sampling, auger drilling, and mineralogy work. The remaining $467,956 is allocated for tenement maintenance, working capital, and the costs associated with the equity raising.
MRG’s Chairman, Andrew Van Der Zwan, highlighted the strategic importance of the capital raising, noting the granting of two Mining Licences and progress towards Development and Production under the HMS Joint Venture. He also emphasised the potential of the Linhuane project, citing exceptionally high Total Heavy Mineral grades that significantly exceed industry averages. The entitlement offer is non-renounceable, with eligible shareholders in Australia and New Zealand invited to participate.
The offer opens on Tuesday 29 July 2025, and is scheduled to close at 5:00pm Melbourne time on Friday 15 August 2025. The company reserves the right to extend the offer, close it early, or withdraw it altogether. An offer prospectus is expected to be dispatched to eligible shareholders on Tuesday 29 July 2025. This announcement has been authorised by MRG’s Board of Directors.