MRG Metals quarterly activities update

MRG Metals (ASX:MRQ) has released its quarterly activity report for September 2024, showcasing significant progress in its exploration projects in Mozambique and Zimbabwe. The company has been actively developing Heavy Mineral Sands projects in Mozambique under a joint venture with Sinowin Lithium, alongside exploring Rare Earth Elements in Zimbabwe.

Quarterly report highlights and future outlook

MRG Metals' quarterly report details the ongoing progress in its joint ventures and exploration efforts in Mozambique and Zimbabwe. The company is developing Heavy Mineral Sands projects in Mozambique through a collaboration with Sinowin Lithium, which includes site visits and financial investment in feasibility studies and engineering designs. In Zimbabwe, MRG focuses on Rare Earth Elements, with 550 samples sent for multi-element analysis. MRG Metals also successfully completed an $800,000 capital raising to support its projects. The company plans to continue advancing its initiatives to reach mining decisions, while maintaining a strong financial position with $906,000 in cash and equivalents at the end of the quarter.

Executive insights on project advancements

MRG Metals has made substantial advancements in our joint venture projects in Mozambique and exploration activities in Zimbabwe. Our partnership with Sinowin Lithium is progressing well with significant site visits and financial contributions towards feasibility studies and equipment procurement. In Zimbabwe, we continue to explore granted mining licenses with promising results that could lead to further exploration initiatives.