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- MRG Metals (MRQ) has entered a trading halt of an upcoming capital raise
- The company will remain in the halt until February 1 or when an announcement is made, whichever occurs first
- Just yesterday, MRG Metals revealed it had received high-grade results from its Nhacutse prospect in Mozambique
- Grades peaked at 10.03 per cent total heavy mineral and results have given more confidence in three high-grade zones
- Shares in MRG Metals last traded at 1.7 cents on January 27
MRG Metals (MRQ) has entered a trading halt of an upcoming capital raise.
The company will remain in the halt until February 1 or when an announcement is made, whichever occurs first.
MRG Metals is yet to disclose how much it intends to raise or what the funds will go towards once received.
Just yesterday, MRG Metals revealed it had received high-grade results from its Nhacutse prospect at the Corridor South Project in Mozambique.
10 holes were drilled in October and November to infill and outline the Nchacutse high-grade mineralised footprint.
Best results include three metres at 10.03 per cent total heavy mineral (THM), and 42 metres at 5.4 per cent THM including 36 metres at 5.99 per cent THM.
According to MRG Metals these results have given more confidence in three high-grade zones.
These zones have a combined surface footprint of over 2.5 square kilometres and they represent the potential to deliver over 100 million tonnes of heavy mineral sand (HMS) at over six per cent HMS.
Shares in MRG Metals last traded at 1.7 cents on January 27.
