MGA - MetalsGrove Mining

[System]

MetalsGrove Mining Limited (MGA) is an Australian-based exploration and development company, focused on the exploration and development of its portfolio of high-quality lithium, rare earth, copper-gold, manganese and base metal projects in Western Australia and the Northern Territory.

MetalsGrove Mining has two projects in Western Australia, The Upper Coondina and Woodie Woodie North Projects and three Projects in the Northern Territory, Bruce, Box Hole and Edwards Creek Projects.

Following completion of its IPO, the Company’s proposed business model will be to further explore and develop the Projects.

The Company's main objectives will be to:

• Undertake surface mapping geochemical and geophysical work across the Projects;
• Focus on mineral exploration and other resource opportunities that have the potential to deliver growth for Shareholders;
• Continue to pursue other acquisitions that have a strategic fit for the Company; and
• Provide working capital for the Company.

It is anticipated that MGA will list on the ASX during June 2022.

Mining Company Australia | Lithium | MetalsGrove

MetalsGrove is a Lithium and rare earth explorer, capturing value from the rapid change in demand for these commodities.

metalsgrove.com.au

 

[Dona Ferentes]

Listing date	27 June 2022 ; 11:30 AM AEST ##
Company contact details	Mining Company Australia | Lithium Mines | MetalsGrove MetalsGrove is a Lithium and rare earth explorer, capturing value from the rapid change in demand for these commodities. metalsgrove.com.au Ph: +61 8 6388 2725
Principal Activities	Mineral exploration
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	MGA
Capital to be Raised	$7,000,000
Expected offer close date	13 June 2022
Underwriter	Not underwritten. Ventnor Securities Pty Ltd (Lead Manager).

 

[Dona Ferentes]

Not much happening; probably bold to come to market at this time in the cycle.

MGA listed on 06 July, and opened at 15c; in the three days on the ASX has moved between 14c and 16c.

 

[peter2]

Perked up to 0.18 after news that there's been multiple sightings of lithium pegmatite dykes on their East Pilbara exploration lease. These pegmatites may be in the same geo system identified by GL1.

 

[frugal.rock]

Interesting chart.

 

[Dona Ferentes]

Early-stage surface sampling has defined multiple “high priority” carbonatite and REE bearing drill targets for Metalsgrove Mining’s (ASX:MGA) upcoming maiden drilling at Bruce, part of the Arunta project in remote NT.

At Bruce, outcropping carbonatites and anomalous REEs (average 200-300ppm) extend more than 9km long and 600m wide with multiple parallel mineralised lodes identified.

Drilling will kick off this quarter, MGA says.