Australia's MinRex Resources hits more than 2-year high on merging with Electrum Discovery

Northstone Resources

06/01/2026 01:07

** MinRex Resources MRR.AX soars 38.5% to A$0.018, highest level since December 8, 2023

** Battery metals explorer announces merger with Electrum Discovery Corp ELY.V

** Merged group to have A$28 mln ($18.8 mln) market capitalisation

** Co says new entity to be gold and copper exploration company focused on Serbia and Australia

** Electrum shareholders to receive 7.9 MinRex shares for each Electrum share held

** MRR gained 62.5% in YTD

($1 = A$1.4905)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))