MRG Metals Raises $0.73M via 146M Shares to Advance Rare Earth Projects
MRG Metals has raised $0.73 million through a placement to advance its rare earth and heavy mineral sands projects in Mozambique and South Africa, including a strategic acquisition and mining license progression.
- Raised $0.73 million via non-underwritten placement at $0.005 per share
- Acquisition of Sheerartar Minerals to gain 70% of Garies Rare Earth Project
- Funds earmarked for mining license application and project development
- Strong board and Sheerartar director participation signals confidence
- Portfolio includes Mozambique Heavy Mineral Sands JV and rare earth corridors
Funding Boost for Rare Earth and Heavy Mineral Sands Ambitions
MRG Metals Limited (ASX, MRQ) has successfully completed a $0.73 million capital raising through a non-underwritten placement, issuing 146 million shares at a modest 0.5 cents each. This injection of funds is set to accelerate the company’s development across its diversified portfolio of critical mineral assets in Mozambique and South Africa.
The placement also includes free attaching options exercisable at 0.4 cents, providing investors with potential upside as MRG advances its projects. Notably, the company’s board and directors of Sheerartar Minerals Pty Ltd have collectively committed an additional $130,000, underscoring strong internal confidence in the company’s strategic direction.
Strategic Acquisition and Project Advancement
A key highlight of this capital raise is the acquisition of Sheerartar Minerals, which holds a 70% stake in the Garies Rare Earth Project in South Africa. This high-grade, monazite-hosted rare earth system is located near the world-renowned Steenkampskraal Monazite Mine, offering a promising pathway toward development. The funds will primarily support the progression of Garies toward obtaining a mining license, targeted for the second quarter of 2026.
Alongside Garies, MRG’s portfolio includes a fully funded Heavy Mineral Sands Joint Venture in Mozambique, boasting a substantial ~2 billion tonne resource with mine construction planned for the third quarter of 2026. Early drilling results from the Adriano–Fotinho Rare Earth Corridor in Mozambique further indicate district-scale rare earth potential, adding to the company’s multi-asset growth story.
Positioning for a Transformative 2026
Chairman Andrew Van Der Zwan emphasized the company’s momentum, noting that the combination of a funded heavy mineral sands operation, promising rare earth exploration results, and the new South African acquisition positions MRG to advance multiple value drivers simultaneously. With several key catalysts expected in the coming months, 2026 is shaping up to be a pivotal year for the company as it seeks to deliver long-term shareholder value.
MRG’s strategy reflects a broader industry trend of securing diversified critical mineral assets to meet growing global demand, particularly for rare earth elements essential to clean energy technologies and advanced manufacturing.
Bottom Line?
MRG Metals’ latest capital raise sets the stage for critical project milestones that could reshape its market standing in 2026.
Questions in the middle?
- Will MRG secure the mining license for the Garies project on schedule in Q2 2026?
- How will milestone payments tied to Sheerartar acquisition impact future capital needs?
- What exploration results can be expected next from the Adriano–Fotinho Rare Earth Corridor?
