Announcement • Jan 06
MinRex Resources Limited (ASX:MRR) agreed to acquire Electrum Discovery Corp. (TSXV:ELY) for CAD 11.6 million. MinRex Resources Limited (ASX:MRR) agreed to acquire Electrum Discovery Corp. (TSXV:ELY) for CAD 11.6 million on January 5, 2026. The consideration consists of 966.67 million common equity of MinRex Resources Limited at a ratio of 7.900364 per common equity of Electrum Discovery Corp. As part of consideration, an undisclosed value is paid towards common equity of Electrum Discovery Corp. In case of termination of transaction, MinRex Resources Limited will pay a termination fee of CAD 0.25 million and seller will pay a termination fee of CAD 0.25 million. All Electrum Convertible Securities will be cancelled, and holders will receive MinRex Shares equal to the fair value of their securities, calculated using a Black & Scholes valuation. A total of 87,009,759 MinRex Shares will be distributed to holders on a pro rata basis after cancellation. A total of CAD 0.1713 million of finders’ fees are payable by Electrum in relation to the Transaction. As part of this integration, Elena Clarici, President and CEO of Electrum, will join the MinRex board as an executive director, while Michael Thomsen, currently a non-executive director of Electrum, will be appointed as a non-executive director on the MinRex board. Under the terms of the Transaction, Electrum Securityholders will collectively own approximately 49.3% of the ordinary shares of the Resulting Issuer, while holders of MinRex Shares will own approximately 50.7% of the Resulting Issuer Shares. Upon completion of the Arrangement, Electrum Shares are expected to be delisted from the TSX-V, Frankfurt Stock Exchange and the OTCQB Venture Market.
The transaction is subject to approval by regulatory board, approval of offer by target shareholders and subject to court approval. Electrum's board of directors, in consultation with Electrum's financial and legal advisors, unanimously recommends that Electrum’s Securityholders vote in favour of the Transaction. The expected completion of the transaction is in March, 2026
RwE Growth Partners, Inc. acted as fairness opinion provider for Electrum Discovery Corp. Gowling WLG LLP acted as legal advisor for Electrum Discovery Corp. Thomson Geer acted as legal advisor for Electrum Discovery Corp. Steinepreis Paganin acted as legal advisor for MinRex Resources Limited. Farris LLP acted as legal advisor for MinRex Resources Limited. Announcement • Oct 08
MinRex Resources Limited, Annual General Meeting, Nov 28, 2025 MinRex Resources Limited, Annual General Meeting, Nov 28, 2025. Announcement • Apr 30
MinRex Resources Limited has completed a Derivatives Offering in the amount of AUD 0.227082 million. MinRex Resources Limited has completed a Derivatives Offering in the amount of AUD 0.227082 million.
Security Name: Loyalty Options
Security Type: Equity Option
Securities Offered: 97,581,533
Price\Range: AUD 0.001
Security Name: Loyalty Options
Security Type: Equity Option
Securities Offered: 129,500,000
Price\Range: AUD 0.001
Transaction Features: Rights Offering Announcement • Jan 20
MinRex Resources Limited has announced a Derivatives Offering in the amount of AUD 0.271217 million. MinRex Resources Limited has announced a Derivatives Offering in the amount of AUD 0.271217 million.
Security Name: Loyalty Option
Security Type: Equity Option
Securities Offered: 271,216,875
Price\Range: AUD 0.001
Transaction Features: Rights Offering New Risk • Sep 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. 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$3.0m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 63% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€6.01m market cap, or US$6.69m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Announcement • Sep 20
MinRex Resources Limited, Annual General Meeting, Nov 08, 2024 MinRex Resources Limited, Annual General Meeting, Nov 08, 2024. New Risk • Jan 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.20m (US$10.00m) 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 Share price has been highly volatile over the past 3 months (53% average weekly change). Earnings have declined by 61% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€9.20m market cap, or US$10.00m). Announcement • Oct 30
MinRex Resources Limited, Annual General Meeting, Nov 30, 2023 MinRex Resources Limited, Annual General Meeting, Nov 30, 2023, at 11:00 W. Australia Standard Time. Location: Level 2, 7 Havelock Street West Perth Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to adopt the Remuneration Report; to consider election of Directors; to consider and approval of 7.1a mandate; to consider issue of incentive performance rights to director - glenn whiddon; to adopt the employee securities incentive plan; and to consider other matters. Announcement • Aug 24
MinRex Resources Limited Appoints James Pearse as Non-Executive Director MinRex Resources Limited announced its board has appointed James Pearse as Non-Executive Director of the Company with immediate effect. Mr. Pearse is an experienced corporate lawyer with over 10 years' experience working for national, international and boutique law firms advising Australian businesses mainly in the mining, oil & gas and technology sectors. He holds Bachelor degrees in both Law and Commerce, majoring in finance. New Risk • Aug 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.03m (US$9.91m) 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 Share price has been highly volatile over the past 3 months (52% average daily change). Earnings have declined by 41% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€9.03m market cap, or US$9.91m). Announcement • Jul 04
Tambourah Metals Limited (ASX:TMB) agreed to acquire 6 Eastern Pilbara tenements from MinRex Resources Limited (ASX:MRR) for approximately AUD 0.15 million. Tambourah Metals Limited (ASX:TMB) agreed to acquire 6 Eastern Pilbara tenements from MinRex Resources Limited (ASX:MRR) for approximately AUD 0.15 million on July 3, 2023. Announcement • May 24
MinRex Resources Limited Announces Board Changes MinRex Resources Limited announced that the Company has received resignations from Directors Alex Krstic (effective immediately) and George Karageorge (with effect from 15 August 2023). As previously announced, upon the commencement of Robert Boston as Managing Director, George Karageorge will step down as Managing Director and CEO and become Non-Executive Chairman until his resignation becomes effective on 15th August 2023. The Company has resolved to accept the appointment of Glenn Whiddon as a Non-Executive Director effective immediately. Recent Insider Transactions • Apr 06
Insider recently bought €58k worth of stock On the 30th of March, Conrad Karageorge bought around 6m shares on-market at roughly €0.0098 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €47k more in shares than they have sold in the last 12 months. Board Change • Mar 06
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). MD, CEO & Director Conrad Karageorge is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors.