New Risk • Apr 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m (AU$81k revenue, or US$58k). Minor Risk Market cap is less than US$100m (AU$15.1m market cap, or US$10.8m). New Risk • Mar 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.6m (US$9.54m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m (AU$81k revenue, or US$57k). Market cap is less than US$10m (AU$13.6m market cap, or US$9.54m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). New Risk • Mar 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 44% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m (AU$81k revenue, or US$57k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$17.4m market cap, or US$12.2m). New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 35% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m (AU$51k revenue, or US$36k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$18.2m market cap, or US$13.0m). New Risk • Feb 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m (AU$81k revenue, or US$58k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$20.4m market cap, or US$14.5m). New Risk • Feb 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 44% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m (AU$81k revenue, or US$57k). Market cap is less than US$10m (AU$12.1m market cap, or US$8.51m). Announcement • Feb 02
MetalsGrove Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 2.702 million. MetalsGrove Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 2.702 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,355,000
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,678,330
Price\Range: AUD 0.06
Transaction Features: Subsequent Direct Listing New Risk • Jan 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m (AU$81k revenue, or US$54k). Market cap is less than US$10m (AU$11.9m market cap, or US$7.93m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Announcement • Dec 12
MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.702 million. MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.702 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,355,000
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,678,330
Price\Range: AUD 0.06
Transaction Features: Subsequent Direct Listing Board Change • Sep 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Luke Huang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 19
MetalsGrove Mining Limited, Annual General Meeting, Nov 19, 2025 MetalsGrove Mining Limited, Annual General Meeting, Nov 19, 2025. Announcement • Jul 17
An undisclosed buyer completed the acquisition of an unknown minority stake in MetalsGrove Mining Limited (ASX:MGA) from Catalina Resources Ltd (ASX:CTN) for AUD 0.24 million. An undisclosed buyer acquired an unknown minority stake in MetalsGrove Mining Limited (ASX:MGA) from Catalina Resources Ltd (ASX:CTN) for AUD 0.24 million on July 17, 2025. The proceeds from the sale will strengthen Catalina’s cash position and will be used to advance ongoing exploration initiatives.
An undisclosed buyer completed the acquisition of an unknown minority stake in MetalsGrove Mining Limited (ASX:MGA) from Catalina Resources Ltd (ASX:CTN) on July 17, 2025. Announcement • Apr 11
MetalsGrove Mining Limited Announces Resignation of John Reynolds as Alternate Director, Effective 10 April 2025 MetalsGrove Mining Limited announced that Mr. John Reynolds has resigned as Alternate Director to Haidong Chi, effective 10 April 2025. New Risk • Sep 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Revenue has declined by 34% over the past year. Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m (AU$50k revenue, or US$34k). Market cap is less than US$10m (AU$10.5m market cap, or US$7.11m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Sep 16
MetalsGrove Mining Limited, Annual General Meeting, Nov 12, 2024 MetalsGrove Mining Limited, Annual General Meeting, Nov 12, 2024. Announcement • Sep 05
MetalsGrove Mining Limited Appoints Mr. Luke Huang as Non-Executive Director MetalsGrove Mining Limited announced that Mr. Luke Huang has been appointed as a Non-Executive Director of the company, effective 4 September 2024. Luke Huang is an accomplished Investment Director with extensive experience in Australia's resource operation and investment industry. Mr. Huang has a solid background in economics and finance, demonstrated by his leadership as the Managing Director at Au Xingao Investment, where he successfully resolved high- stakes litigation and secured significant assets for his company. Mr. Huang holds a Chartered Financial Analyst qualification and is proficient in financial analysis, portfolio management, and risk measurement. His career is marked by his ability to build and manage efficient teams, his strategic oversight of resource portfolios, and his fluency in both English and Chinese, enabling effective communication in diverse business environments. New Risk • May 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m (AU$76k revenue, or US$50k). Market cap is less than US$10m (AU$4.64m market cap, or US$3.06m). Minor Risk Less than 3 years of financial data is available. Announcement • May 01
MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1084 million. MetalsGrove Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1084 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,710,000
Price\Range: AUD 0.04
Transaction Features: Rights Offering Announcement • Sep 29
MetalsGrove Mining Limited, Annual General Meeting, Nov 28, 2023 MetalsGrove Mining Limited, Annual General Meeting, Nov 28, 2023. Agenda: To consider re-election and appointment of directors. New Risk • Jun 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m (AU$5.1k revenue, or US$3.4k). Market cap is less than US$10m (AU$7.64m market cap, or US$5.09m). Minor Risk Less than 3 years of financial data is available. Announcement • Jan 24
MetalsGrove Mining Limited Receives Results from Heritage Survey at the Arunta Project, Located 110Km North of Alice Springs MetalsGrove Mining Limited announced that it has received the results from a recently completed Heritage Survey (Survey) at the Arunta Project, located110km north of Alice Springs. The Survey was undertaken by members of the Aboriginal Areas Protection Authority (AAPA) and covered the area comprising the Bruce (EL31225), Box Hole (EL32419) and Edwards Creek (EL32420) tenements. At the Bruce Prospect, a program of approximately 3,000 meters RC drilling is proposed to test the bedrock conductor at Whistleduck, Plenty River and Whitehorse historical pegmatite mines in three different stages. At the Box Hole and Edwards Creek another 3,000 meters RC drilling is proposed to test the known exploration drilling targets. The Arunta Project ~300 km by road from Alice Springs and 13 km north of the Plenty Highway. Bruce Prospect (EL 31225): The Bruce Prospect is located within the Central Desert Region of the Northern Territory and covers an area of approximately 17,722 ha and the maximum distance across the project is about 25 km eastwest and 10 km northsouth. The nearest historical mine is the inactive Harts Range garnet mine (approximately 80 km to the west-southwest) while the Molyhil tungsten- molybdenum project (Thor Mining PLC) is approximately 10 km to the northeast. Edwards Creek Prospect (EL 32420): The Edwards Creek polymetallic (copper-lead-zinc-gold) prospect comprises a single granted mineral exploration licence (EL32420), located approximately85 km north-northeast of Alice Springs, NT. The tenement covers an area of approximately 7,568 ha. Box Hole Prospect (EL32419): The Box Hole zinc-lead, REE prospect comprises a single granted mineral exploration licence (EL32419), located approximated 340 km northeast of AliceSprings, NT. The tenement covers an area of approximately 12,765 ha. Announcement • Dec 20
Metalsgrove Mining Limited Announces Phase 1 Drilling Completed Upper Coondina Lithium Project MetalsGrove Mining Limited announced that it has completed its maiden 4,200m Reverse Circulation (‘RC’) drilling programme at the Upper Coondina Lithium Project, located 80 km south of Marble Bar. This maiden drilling programme was designed to test the priority lithium targets at the recently discovered Chola Prospect in the south-east of the main Upper Coondina Project area. The Company can report that drilling has successfully intersected the main target zone at Chola with first assays expected to be reported in first quarter 2023. MGA is also pleased to confirm the completion of a DGPR survey at Upper Coondina. DGPR is proven technique for identifying additional pegmatites and establishing a more detailed understanding of subsurface mineralisation. Deep Ground Penetrating Radar (DGPR) survey: Ultramag Geophysics was engaged by the Company to undertake a DGPR survey to identify pegmatites and investigate subsurface potential for the known, mapped and sampled at the Upper Coondina lithium project. Excellent signal quality from depths of 30m to 100m was recorded and a total of 28.5 km of line-data at 50m to 150m spacing was completed. The DGPR survey has identified 23 new potential pegmatite structures conjugate with existing known mineralised pegmatites within the Chola Prospect. During the first phase drilling programme, MGA tested approximately 50% of the DGPR anomaly, and the untested anomaly will be drilled during the next phase of drilling programme. DGPR is a geophysical technique similar to seismic that emits very short pulses of electromagnetic (EM) radiation into the ground via a transmitter, measuring the reflected energy in a receiver to produce profiles of subsurface resistivity. The DGPR survey was planned to test the extensions at depth of existing surface- mapped, known lithium-rich pegmatites; and potential to identify additional blind pegmatites. The new interpreted pegmatites, shown in green in, appear to be much wider than the mapped and sampled pegmatites at Chola. They are also interpreted to start below the surface and extend slightly deeper; orientation is correlated with the known surface outcrop pegmatite. Next steps: RC Drill samples have been sent to the laboratory for analysis; Continue detailed field mapping in the areas north of Chola, Happy Go Lucky and Shaw River Prospects to further enhance the geological Modelling; Continue DGPR survey in the areas north of Chola, Happy Go Lucky and Shaw River Prospects to identify potential extensions of the undercover Pegmatites; Planning for follow-up programmes once assay results have been received and interpreted; Commence planning for heritage surveys prior to drill programmes; Planning underway for surface field mapping and sampling. Upper Coondina Project Background: The Upper Coondina Project is located approximately halfway between the major mining regional service centres of Port Hedland and Newman - approximately 200 km northwest and 180 km south-southeast of the project, respectively. The Project comprises a single granted Exploration Licence. The tenement covers an area of approximately 6,363 ha and the maximum distance across the project is about 11 km east-west and 8 km north-south. Nearby lithium mines include Wodgina Pilbara Minerals and recent lithium developer Global Lithium. Historical Exploration Summary: The Greater Shaw Tin Field has attracted exploration interest since the discovery of tin in 1890. However, most of the exploration and subsequent mining of tin and tantalum has been on the small scale. The Shaw Tin Field, has historically produced more than 6,500 t of tin concentrate. In 1968, Marble Bar Nickel carried out a rock chip sampling programme covering tenement E45/3699 of the current Hillside CRG (A1714). A 1972 stream sediment sampling programme by Anglo American Services Limited targeting Ni-Cu mineralisation identified a copper anomaly in ultramafic and pillow basalts and another in altered gabbro. Both were subsequently found to be insignificant. In early 1968, the field was largely abandoned after the shallow deposits were soon exhausted. Towards the end of 1968, a local resident discovered further cassiterite mineralisation in cemented alluvium within a largely concealed tertiary drainage channel. In 1983, CSR Limited explored for economic secondary concentrations of tin and tantalum in the area. Their exploration programme included follow-up on radiometric anomalies, stream sediment sampling and geological mapping. No discrete localities of anomalous tin could be identified. CSR Limited identified simple pegmatite veins as the sources of the tin. No dedicated Li-focused exploration has been carried out within the project area. However, given historical surface geochemical sampling has returned anomalous values up to 253 ppm LiO2, MetalsGrove considers that this untested magnetic anomaly warrants follow-up exploration to determine its source. The exploration results that are referred to above were included in MetalsGrove's IPO prospectus dated 13 May 2022 (Prospectus). MetalsGrove is not aware of any new information in respect of these results, and confirms that full details with respect to these results are included in the Prospectus. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman Richard Beazley was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 15
MetalsGrove Mining Limited Announces Inaugural Drilling Programme At Upper Coondina Lithium Project MetalsGrove Mining Limited announced that its drilling contractor, Topdrill, has mobilised its drill rig in preparation for the inaugural RC drilling program at the Upper Coondina Lithium Project, located 100 km south of Marble Bar. MGA formally engaged Topdrill as the drilling contractor following the completion of a heritage survey (with subsequent approval) together with a Programme of Works (PoW) relating to the planned drilling programme at Upper Coondina. Prior to drilling, earth work contractor EMJC Earthmoving & Plant Hire has commenced earth works at the site to upgrade access roads, prepare tracks and drill pads. Mobilisation of the Ultramag DGPR technology is underway in preparation for a DGPR survey that will commence this week. DGPR is a proven technique for identifying additional pegmatites and establishing a more detailed understanding of subsurface mineralisation. MGA will initially drill test its priority lithium drilling targets at the Chola prospect in the south east of the main Upper Coondina project. Drilling will commence at Chola as soon as site preparations are complete. The Upper Coondina Project is located approximately halfway between the major mining regional service centres of Port Hedland and Newman - approximately 200 km northwest and 180 km south-southeast of the project, respectively. Announcement • Nov 07
MetalsGrove Mining Limited Announces High-Grade Lithium Tantalum Soil Samples Returned at Upper Coondina-WA MetalsGrove Mining Limited announced that a recently completed pre-drilling exploration programme has confirmed multiple pegmatite corridor and identified potential drilling targets at the Company's Upper Coondina Lithium Project in Western Australia. The recently completed programme comprised soil sampling, airborne survey and surface field mapping which revealed a corridor containing multiple pegmatites which are coincident with the source area and with surface geochemistry. Encouraging soil sampling assays including Li2O 670 ppm and Ta 103 ppm have been returned. Multiple outcropping pegmatite dykes occurring in swarms, with pegmatite dykes strike approximately 8.0 km x 4.0 km. Initial observations suggest Upper Coondina has two generations of pegmatite - G1 and G2, which host the lithium mineralisation found within the Pilbara lithium field. MGA also believes Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium and similar geological setting as Pilbara minerals north of MGA's ground. Over 2,500 soil samples were taken from the southern part of the Upper Coondina Chola Prospect. The geochemical responses and surface field mapping identified strong LCT-pegmatite anomalies, which is in an 8km by 4km multiple pegmatite corridor. First pass soil sampling assay results confirm lithium mineralisation and defining the drilling target within the Chola Prospect pegmatite corridor measuring approximately 4.0 km x 2.0 km. Pending soil samples assay results are expected to be received over the coming weeks. These results will allow the Company to define more drilling targets to test the outcropping pegmatites at depth, to confirm their orientation and the extent of any high-grade lithium mineralisation continuing below surface. Earthworks for the upcoming maiden lithium drill programme are scheduled to commence in mid-November 2022. The start of drilling is scheduled for late November. The Upper Coondina Project is located approximately halfway between the major mining regional service centres of Port Hedland and Newman – approximately 200 km northwest and 180 km south-southeast of the project, respectively. The Project comprises a single granted Exploration Licence. The tenement covers an area of approximately 6,363 ha and the maximum distance across the project is about 11 km eastwest and 8 km northsouth. Nearby lithium mines include Wodgina, Pilbara Minerals and recent lithium developer Global Lithium. The Greater Shaw Tin Field has attracted exploration interest since the discovery of tin in 1890. However, most of the exploration and subsequent mining of tin and tantalum has been on the small scale. The Shaw Tin Field, has historically produced more than 6,500 t of tin concentrate. In 1968, Marble Bar Nickel carried out a rock chip sampling programme covering tenement E45/3699 of the current Hillside CRG (A1714). A 1972 stream sediment sampling programme by Anglo American Services Limited targeting Ni-Cu mineralisation identified a copper anomaly in ultramafic and pillow basalts and another in altered gabbro. Both were subsequently found to be insignificant. In early 1968, the field was largely abandoned after the shallow deposits were soon exhausted. Towards the end of 1968, a local resident discovered further cassiterite mineralisation in cemented alluvium within a largely concealed tertiary drainage channel. In 1983, CSR Limited explored for economic secondary concentrations of tin and tantalum in the area. Their exploration program included follow-up on radiometric anomalies, stream sediment sampling and geological mapping. No discrete localities of anomalous tin could be identified. CSR Limited identified simple pegmatite veins as the sources of the tin. No dedicated Li-focused exploration has been carried out within the project area. However, given historical surface geochemical sampling has returned anomalous values up to 253 ppm LiO2, MetalsGrove considers that this untested magnetic anomaly warrants follow-up exploration to determine its source. The exploration results that are referred to above were included in MetalsGrove's IPO prospectus dated 13 May 2022 (Prospectus). MetalsGrove is not aware of any new information in respect of these results, and confirms that full details with respect to these results are included in the Prospectus. Announcement • Oct 28
MetalsGrove Mining Limited Completes Pre-Drilling Detailed Surface Mapping Program at Bruce Rare Earth Prospect MetalsGrove Mining Limited announced that a pre-drilling detailed surface mapping program has been completed at the Company's Bruce Rare Earth Prospect (EL 31225) in the Northern Territory. Importantly, this work has highlighted multiple types of mineralised zones within EL 31225 which are: Pegmatites in the southern part of the prospect which have been mined for mica up until the early 1950's; and Quartz veins at the Bruce prospect form an east-west trending complex which are associated with Au and Cu mineralisation. As previously reported, MetalsGrove has identified a broad conductor along strike from the Plenty River mine which is adjacent to magnetic features interpreted to be components of the pegmatite intrusion. The broad conductor has not been tested to date. Drilling planned for the Bruce Rare Earth Prospect: A program of approximately 10,000 meters air core drilling is proposed to test the bedrock conductor at Whistleduck, Plenty River and Whitehorse historical pegmatite mines in three different stages. The field mapping identified multiple pegmatites up to 10 metre wide and strike length up to over 200 metres within the southern part of the tenement. Bruce Rare Earth Prospect Surface Sampling and Mapping: The program covered each of the target areas within EL 31225 Whistleduck, Plenty River and Whitehorse. An additional 44 rock chip samples were collected from each of the prospective areas or old mine clusters. There are many small mica mines on the tenement. The mines are all located on pegmatites intruding into a Palaeo-to Meso-Proterozoic basement complex of granite/gneiss and high-grade metamorphic units. The pegmatites range in size up to ten metres wide and have a strike length up to over 200 metres. All the old mines are located where the pegmatites have a high mica content. Other pegmatites have a moderate or low mica content. Bruce North Prospect: At the Bruce Prospect in the north of the tenement, a series of east-west trending quartz veins dipping at shallow angles to the north are moderately to highly gossanous. The veins at Bruce form a complex of sub-parallel quartz intrusions some 1 to 2 metres wide trending east-west in the east and inflecting southwest-ward in the west. About 11 different trends were identified with a total cumulative strike length of a little over 2km. Copper staining was observed where the main reef had been disturbed by bulldozing in the centre of the prospect but nowhere else along the vein trends. Announcement • Sep 28
MetalsGrove Mining Limited Announces Significant Lithium Potential Identified At Upper Coondina Lithium Project MetalsGrove Mining Limited (MetalsGrove MGA or the Company) announced that a pre-drilling detailed surface mapping program has been completed at the Company's Upper Coondina Lithium Project located 85 km south-west of Marble Bar in the East Pilbara district of WA. Initial results highlight multiple outcropping pegmatite dykes occurring in swarms. Pegmatite dykes strike approximately northeast-southwest within a regional corridor extending 8km Initial observations suggest the pegmatites at Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium at its Archer Project to the north-east ground, which further underpins the strong lithium prospectivity at Upper Coondina. Surface field mapping and rock chip sampling confirms multiple outcropping pegmatite dykes varies from 3m to 30m wide occurring in swarms Recently completed program was designed to identify potential extensions of existing mineralisation for upcoming drilling program 45 dominating pegmatite formations have been identified – pegmatite dykes strike approximately northeast-southwest within a regional corridor extending 8km POW approvals now received for the Upper Coondina lithium project - Heritage survey will be commencing first week of October 2022 Airborne Magnetic and Radiometric survey is complete Maiden drill program is scheduled to commence in fourth quarter Upper Coondina is highly prospective for lithium-tin-tantalum and is located in the Pilbara Tier-1 lithium mineral field. Announcement • Sep 20
Metalsgrove Mining Limited Announces Airborne Survey Confirm Potential Target Woodie Woodie North MetalsGrove Mining Limited announced that a recently completed airborne magnetic survey has confirmed a large magnetic corridor of interest at the Company's Woodie Woodie North Manganese Project in Western Australia. The airborne geophysical survey has highlighted multiple structures coincident with the source area and with surface geochemistry. The results of the magnetic and radiometric survey, coupled with the pre-existing geochemistry data, provides a suite of compelling targets as the Company advances towards a maiden drilling program planned later this year. Survey Background; During August 2022, Thomson Airborne Surveys Pty Ltd. completed a detailedairborne magnetic and radiometric survey to test the Company's Woodie Woodie North Manganese (Mn) Project. The survey included an area with previously defined Mn geochemical anomalies. Preliminary data has been interpreted and final data will be processed and interpreted shortly. This will include modelling if required to assist confirmation of source spatial location/geometry. A total of 24 anomalies were picked and ranked from enhanced imagery. From these, 12 priority main initial targets were delineated. Further, of these targets, six stand out as extensive and are associated with the broad conductor identified from the electromagnetic and radiometric regional AEM survey.These targets cover approximately 8km of the "Magnetic Signature" interpreted to lie along the eastern and western complex in its Rippon Valley target area. It is worth noting that geochemical trend and magnetic anomalism coincide at Rippon Valley. A number of both discrete and elongated magnetic anomalies of potential Mn exploration interests have been highlighted by this recent detailed aeromagnetic surveying, elongated anomalies are curvilinear in nature with clear structural breaks/disruptions within the broader corridor. Of particular interest is the eastern magnetic trend which has clear Mn mineralisation present at its southern extremity. Two intrusive type magnetic anomalies were also highlighted and warrant further investigation. Follow-up ground investigation is required to further rank target areas/trends and then most likely additional geophysical surveys such as passive or active AEM or ground IP will be required to refine highest priority prospects for drill targeting. Announcement • Sep 13
MetalsGrove Mining Limited, Annual General Meeting, Nov 02, 2022 MetalsGrove Mining Limited, Annual General Meeting, Nov 02, 2022. Announcement • Sep 08
MetalsGrove Mining Limited Announces Pre-Drilling Surface Mapping Underway At Lithium Project MetalsGrove Mining Limited announced that a pre-drilling detailed surface mapping program is underway at the Company's Upper Coondina Lithium Project in Western Australia. Upper Coondina Project: With Upper Coondina never been explored for lithium, the pegmatites at Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium at its Archer Project to the north east of the ground, which further underpins the lithium perspectivity of the Project. Surface mapping and soil sampling is to help define drill targets for the upcoming drilling programme. Highlights: Pre-drilling detailed surface mapping is underway at the Company's lithium project covering approximately 50% of the project area. Surface sampling program is complete with ~2500 samples dispatched to laboratory and results pending. A 590-line kilometre helicopter borne magnetic and radiometric survey will commence this month to assist target generation. Upper Coondina is highly prospective for lithium-tin-tantalum and is located in the Pilbara Tier-1 lithium mineral field. Drilling is planned following completion of the heritage survey, the airborne magnetic and radiometric survey and surface mapping. Announcement • Aug 23
Metalsgrove Mining Limited Announces Magnetic and Radiometric Survey Underway At Arunta Project MetalsGrove Mining Limited announced that a 5,973-line km helicopter borne magnetic and radiometric survey is underway across key prospects within the Company's 100% owned Arunta Project in the Northern Territory. The survey will comprise 3,954-line kilometres at the Bruce Prospect, 1,147- line kilometres at the Box Hole Prospect and 872-line kilometres at Edwards Creek. As previously reported, MetalsGrove has identified a broad conductor along strike from the Plenty River mine which is adjacent to magnetic features interpreted to be components of the pegmatite intrusion. The broad conductor has not been tested to date. The Bruce Prospect is located within the Central Desert Region of the Northern Territory and covers an area of approximately 17,722 ha and the maximum distance across the project is approximately 25 km eastwest and 10 km northsouth. The nearest historical mine is the inactive Harts Range garnet mine (approximately 80 km to the west-southwest) while the Molyhil tungsten-molybdenum project (Thor Mining PLC) is approximately 10 km and copper-silver project (KGL Resources) 75 km to the northeast. MGA recently reported that it had identified a broad conductor along strike from the Plenty River mine which is adjacent to magnetic features interpreted to be components of the pegmatite intrusion. The survey which is underway, will comprise 3,954-line kilometres at the Bruce Prospect. Aggressive drilling is planned at the Bruce Prospect following completion of the air borne magnetic and radiometric survey. The Box Hole zinc-lead, REE prospect comprises a single granted mineral exploration licence (EL32419), located approximated 340 km northeast of Alice Springs, NT. The tenement covers an area of approximately 12,765 ha. The survey will comprise 1,147-line kilometres at the Box Hole Prospect with 50m line spacing. The Edwards Creek polymetallic (copper-lead-zinc-gold) prospect comprises a single granted mineral exploration licence (EL32420), located approximately 85 km north- northeast of Alice Springs, NT. The tenement covers an area of approximately 7,568 ha. The survey will comprise 872-line kilometres at the Edwards Creek Prospect with 100m line spacing. Announcement • Aug 02
MetalsGrove Mining Limited Announces Woodie Woodie North Exploration Update MetalsGrove Mining Limited ('MetalsGrove' 'MGA' or the 'Company') announced that a recently completed technical review of historical airborne electromagnetics survey data has highlighted a large conductor zone within the Woodie Woodie North Manganese Project in Western Australia. The Woodie Woodie North Project is located approximately 100 km east of Marble Bar in the eastern Pilbara region and covers an area of approximately 13,740 ha. A 1,596-line kilometre of airborne magnetic and radiometric survey set at 50 m spacings is underway on a E-W traverse lines. Additional exploration activities to be completed at the Woodie Woodie North Project area this quarter include surface mapping and soil geochemistry. The Woodie Woodie North manganese project which comprises a single granted Exploration Licence (E 45/5945), located approximately 100 km east of Marble Bar in the eastern Pilbara region. The tenement covers an area of approximately 13,740 ha. Nearby mines include the Woodie Woodie (Consolidated Minerals Limited) manganese mine (approximately 50 km to the southeast) and its well-connected world-class infrastructure. Announcement • Jul 26
MetalsGrove Mining Limited Announces the Appointment of Rebecca Broughton as Chief Financial Officer MetalsGrove Mining Limited announced the appointment of Ms Rebecca Broughton as Chief Financial Officer. Ms Broughton is an experienced corporate executive with a Bachelor's degree in Commerce and is a member of the Institute of Chartered Accountants (Australia). She has extensive experience focusing on the start-up, restructuring, management, growth and financing of emerging publicly listed exploration and mining companies across multiple jurisdictions. Announcement • Jul 20
MetalsGrove Mining Limited Announces Technical Review Highlights Large Conductor At Bruce (NT) MetalsGrove Mining Limited announced that a recently completed technical review of historical airborne electromagnetics survey data has highlighted a large conductor zone within the Bruce Prospect in the Northern Territory. The Bruce Prospect is considered prospective for Rare Earth, Copper- Gold and LCT pegmatite mineralisation and is located within the broader Arunta Project approximately 300 km by road from Alice Springs and 13 km north of the Plenty Highway. During 2017-18 Northern Territory Geological Survey (NTGS) completed airborne electromagnetics survey at Bruce and the survey data was collected and re-processed by MetalsGrove. Following a detailed review, MetalsGrove has identified a broad conductor along strike from the Plenty River mine which is adjacent to magnetic features interpreted to be components of the pegmatite intrusion. The broad conductor has not been tested to date. 3,954-line kilometres of airborne magnetic and radiometric survey at 50m spacing on north-south traverse line direction is scheduled to commence shortly for initial follow-up investigation. An aggressive drilling programme is planned to test the bedrock conductor after completion of airborne magnetic and radiometric survey. Additional exploration to be completed with the Arunta Project area this quarter includes 1,147-line kilometres of airborne magnetic and radiometric survey at the Box Hole Prospect with 50m spacing on north- south traverse line direction. Bruce Prospect Summary The Bruce Prospect is located within the Central Desert Region of the Northern Territory and covers an area of approximately 17,722 ha and the maximum distance across the project is about 25 km east-west and 10 km north-south. The nearest historical mine is the inactive Harts Range garnet mine (approximately 80 km to the west-southwest) while the Molyhil tungsten-molybdenum project (Thor Mining PLC) is approximately 10 km to the northeast. Announcement • Jul 06
MetalsGrove Mining Limited has completed an IPO in the amount of AUD 6.4 million. MetalsGrove Mining Limited has completed an IPO in the amount of AUD 6.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 32,000,000
Price\Range: AUD 0.2 
