- 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.