MinRex Resources Ltd Announces New Securities Quotation and Option Issue

MinRex Resources Limited, a mineral exploration and development company based in West Perth, Australia, has made significant announcements regarding its financial activities. The company, which specializes in gold, base metal, and tin projects, operates exclusively in Australia and trades on the ASX All Markets.

Securities Quotation Application

On April 30, 2025, MinRex Resources announced its application for the quotation of securities. The announcement, detailed in Appendix 2A, specifies the issuance of 129,500,000 MRRO options, set to expire on January 20, 2030. These options are part of a transaction previously announced to the market in an Appendix 3B. The issue date for these securities is April 30, 2025.

Issuance of Shortfall Options

In a related development, MinRex Resources issued 129,500,000 new listed MRRO options, each exercisable at $0.02, under the Loyalty Option Offer shortfall. This issuance, announced on the same day, brings the total number of new options to 227,351,533. The final amount raised from this issuance is $227,351, before costs, which will be allocated to cover the costs of the offer and provide general working capital. This follows the company’s earlier announcements on April 10, 2025, regarding the Loyalty Option Offer and February 14, 2025, concerning the Results of the Entitlement Offer.

Financial Overview

As of April 28, 2025, MinRex Resources had a close price of $0.008 AUD, with a 52-week high of $0.012 and a low of $0.007. The company’s market capitalization stands at 8,680,000 AUD. The price-to-earnings ratio is currently at -4.23, reflecting the company’s financial performance.

Exploration and Development Activities

In addition to its financial activities, MinRex Resources continues to focus on exploration and development. The company has identified five high-priority Iron Oxide Copper-Gold (IOCG) and Broken Hill Type (BHT) targets within its Fraser Range tenement holdings. A farm-in option agreement has been executed with Minrex Resources Limited to fund drilling of these targets, with an EIS funding program set to provide a refund of up to $156,000. Drilling is expected to commence once necessary approvals are received.

MinRex Resources also holds prime gold exploration ground with potential for saprolite and bedrock-hosted gold, acquired from IGO Ltd. These activities highlight the company’s ongoing commitment to expanding its exploration portfolio and enhancing its project development capabilities.

Overall, MinRex Resources Ltd continues to navigate its financial and operational strategies to strengthen its position in the metals and mining sector.