MRG Metals Limited has received completed placement funds totalling $725,000 through the issue of 362,750,000 fully paid ordinary shares at $0.002 each, and launched a Share Purchase Plan to raise up to an additional $750,000.

Eligible shareholders registered on the company share register as of 17 August 2026 can apply for up to $30,000 of new shares under the Share Purchase Plan without brokerage charges at the same issue price of $0.002 per share. The offer is scheduled to close on 17 September 2026, with the new shares expected to commence trading on 25 September 2026.

Proceeds from the capital raising will be directed primarily toward the Garies Rare Earth Project in South Africa’s Northern Cape Province, securing funding to complete the project's Mining Licence Application and conduct resource expansion drilling at the DrillTarg target. MRG acquired ownership of the Garies project in January 2026.

Funds will also support a stream sediment program across the remaining targets identified at Garies, alongside step-out auger drilling at the Adriano and Fotinho rare earth projects in Mozambique. MRG maintains a critical minerals portfolio in Mozambique that includes Adriano and Fotinho, where parallel step-out auger drilling is underway to define the size of the mineralised footprint.

“Garies sits in a district that has some of the highest grade rare earths in the world. Our DrillTarg deposit is currently both smaller in tonnage potential and of lower grade, albeit the grade is also one of the highest grades globally. However, initial metallurgical characterisation has established excellent metallurgy, with 72% monazite recovery with a pathway beyond 80%. The basket is magnet rich, with neodymium, praseodymium, terbium and dysprosium making up approximately 26% of total rare earth oxide, which is excellent. Our ambition now looks to establish and expand a Resource, while seeking funding to develop a pilot plant as laid out in our mining licence application.”

“This funding lets us diamond drill to expand DrillTarg along strike and down dip. We will also be able to test the ground we have not yet touched and move toward a pilot plant.”

— Andrew Van Der Zwan, Chairman

Read the full announcement: Placement Funds Received and Share Purchase Plan Announced