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MGA - MetalsGrove Mining

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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.

 

Dona Ferentes

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Listing date27 June 2022 ; 11:30 AM AEST ##
Company contact details Ph: +61 8 6388 2725
Principal ActivitiesMineral exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeMGA
Capital to be Raised$7,000,000
Expected offer close date13 June 2022
UnderwriterNot underwritten. Ventnor Securities Pty Ltd (Lead Manager).
 

Dona Ferentes

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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.
 
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