MinRex Resources (ASX:MRR)
MinRex Resources Limited (ASX:MRR), which plans to acquire a 70% stake in five highly-prospective exploration licences in WA’s East Pilbara region, has been full steam ahead over the New Year period.
MRR is seeking to acquire tenements that border licences controlled by the $475.4 million capped Novo Resources Corp (TSX-V:NVO) and the $43 million capped Haoma Mining (ASX:HAO).
The tenements also border those of renowned prospector Mark Creasy, the 72-year-old mining veteran and BRW rich lister who reaped more than $500 million when Independence Group acquired Sirius Resources in 2014 – a company in which Creasey had a major stake.
There is a lot to like about the East Pilbara region and MRR is already seeing some reward with the results of a recent site inspection of its East Pilbara licences turning up six gold nuggets totalling 22.7 grams.
Also working in MRR’s favour is the $250,000 injected into MRR by the $150 million capped Artemis Resources (ASX:ARV) as part of a $750,000 placement to fund the acquisition of the Pilbara sites.
Artemis was the company that kicked off the new Pilbara gold rush and MRR will look to ride its coattails.
The information on this page should not be the only trigger for your investment decision. Click on the links below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions.
MRR is set for a big 2018, with a lot of work to come including historical data compilation, target generation, prospecting and eventually drilling if results fall its way.
If the news flow continues in a positive manner, it could have a substantial positive impact on MRR’s current low value $8 million market cap.
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