MRC Extends Standstill Agreement, Seeks Funding

Mineral Commodities Ltd (AU:MRC) has released an update.

Mineral Commodities Ltd (MRC) has extended its Standstill Agreement with Garnet International Resources Pty Ltd (GMA) until December 13, 2024, which includes new termination conditions and a requirement for MRC to contribute A$250k to GMA’s costs. The company is actively seeking A$2M in corporate funding, with the assistance of Bacchus Capital Advisors in London, but the announcement does not affect MRC’s current state of voluntary suspension from trading. MRC, a global mining and development company, continues to focus on the production of Natural Flake Graphite and the development of its graphite projects.

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