MinRex Resources has signed a definitive agreement to acquire Electrum Discovery in a gold-copper merger worth $18.73m. The deal combines Electrum’s Tlamino Gold Project with MinRex’s Sofala Gold Project, aiming to unlock value through exploration and resource expansion. The merger includes Electrum’s Timok East Copper-Gold Project and MinRex’s assets in NSW.

Electrum’s Tlamino Gold Project in Serbia contains 670,000oz of gold equivalent, while MinRex’s Sofala Gold Project in NSW hosts over 350,000oz of gold. The merged company plans to focus on expanding resources at Tlamino and Sofala, as well as exploring new discoveries around the Barje Deposit.

Once completed, Electrum shareholders will hold 49% of the combined company, with MinRex investors owning 51%. Each Electrum share will be exchanged for 7.9 MinRex shares. The merger has unanimous board approval and is expected to close in March 2026, pending regulatory approvals.

MinRex director James Pearse stated that the merger creates a stronger exploration company with enhanced scale and technical depth. The combined group will focus on meaningful discovery and resource growth activities across Tier-1 jurisdictions immediately post-transaction completion.

In July 2024, MinRex earned a 51% interest in exploration license EL 7423 in NSW. “MinRex to acquire Electrum shares in gold-copper merger” article is originally published by Mining Technology.

Read more at Yahoo Finance: MinRex to acquire Electrum shares in gold-copper merger