MRG Metals Limited (AU:MRQ) has released an update.
MRG Metals Limited has successfully raised $800,000 through the placement of shares and options to fund the advancement of a Heavy Mineral Sands (HMS) Joint Venture (JV) and selective exploration activities. The company’s Chairman highlighted the importance of efficiently using the newly acquired funds to drive the JV towards mine development while also maintaining the potential of their exploration licenses. The JV, which involves a structured equity agreement and funding commitments from the partner SLC, is set to progress with the development of mining operations and production expansion in Mozambique.
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