MRQ: Annual Report to shareholders
Original announcement by asx on
- Company
- MRG Metals Limited
- Ticker
- MRQ
- Exchange
- ASX
- Region
- South Africa
- Primary commodity
- Rare earths
- Secondary commodities
- Titanium, Gallium, Uranium, Ilmenite, Rutile, Monazite, Zircon, Leucoxene
- Document categories
- Metallurgy, Drill results, Resource update
- Extracted
- 2026-09-30 03:04:52 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
MRG Metals Limited reported a defining year with high-grade rare earth drill results and positive metallurgical testwork from its Garies project in South Africa, including a significant gallium discovery. In Mozambique, the company advanced its Adriano-Fotinho rare earth corridor with auger drilling results and progressed its titanium dioxide joint venture with substantial resource estimates and permitting milestones. The company successfully raised capital during and after the financial year to fund ongoing exploration and development activities.
Reasoning: The annual report highlights strong drill results and metallurgical progress at the Garies Rare Earth Project, including high TREO grades and a gallium discovery. Significant heavy mineral sands resources are reported for the Mozambican JV, which is advancing towards production. While the company faces going concern risks typical of explorers, the operational updates are largely positive and demonstrate progress across its key projects.
Positive factors
- High-grade rare earth drill intercepts at Garies, significantly above global benchmarks.
- Successful metallurgical testwork for monazite recovery with a clear pathway for optimization.
- Discovery of significant gallium associated with rare earth mineralization, adding potential byproduct value.
- Substantial heavy mineral sands resource estimates for the Titanium Dioxide Joint Venture.
- Progress on permitting and exploration for both rare earth and heavy mineral sands projects.
Negative factors
- Going concern uncertainty noted in financial statements, requiring future capital raises.
- Mining Right for Corridor South remains under review, delaying progress for that asset.
- Many rare earth targets at Garies remain undrilled, indicating early stage of exploration for much of the project.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 49
Classification and evidence
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The document mentions SGS mineralogy on a composite heavy mineral concentrate, indicating external laboratory involvement.
Evidence · text
“Final SGS mineralogy on a composite heavy mineral concentrate drawn from four Adriano targets was reported on 13 May 2026.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The resource estimates were prepared by IHC Mining, and the document mentions 'independent Competent Person' in relation to JORC resources.
Evidence · text
“All Mineral Resource estimates were prepared by IHC Mining.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The mineral resource estimates for Corridor Central and Corridor South are explicitly stated as 'JORC Mineral Resource'.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 1,534 Mt at 5.5% THM at a 4% cut-off grade”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The combined Global Indicated and Inferred JORC Mineral Resource across the two licences exceeds 2 billion tonnes, indicating a very large scale.
Evidence · text
“The combined Global Indicated and Inferred JORC Mineral Resource across the two licences exceeds 2 billion tonnes.”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Initial monazite recovery of approximately 72% is reported, with a defined pathway toward recoveries above 80%, which is strong for rare earths.
Evidence · text
“Initial monazite recovery of approximately 72%, with a defined pathway toward recoveries above 80%.”
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: The document mentions discussions on funding a 'pilot plant' for Garies, indicating a move towards larger scale testwork.
Evidence · text
“discussions with those groups on funding a pilot plant.”
Free Millingpositive
Simple, clean ore amenable to standard processing without oxidation.
Why it applies: Metallurgical testwork used 'conventional processing' and a 'flowsheet using conventional crushing, milling, magnetic separation, gravity concentration and flotation', suggesting a relatively simple ore.
Evidence · text
“A flowsheet using conventional crushing, milling, magnetic separation, gravity concentration and flotation.”
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: Adriano mineralogy was conducted on a 'composite heavy mineral concentrate drawn from four Adriano targets', indicating testing across different areas.
Evidence · text
“Final SGS mineralogy on a composite heavy mineral concentrate drawn from four Adriano targets”
Recovery Improvingpositive
Recovery improved versus a like-for-like prior test program on the same domain and route.
Why it applies: Metallurgical testwork returned approximately 72% monazite recovery with a 'defined pathway beyond 80%', indicating expected improvement.
Evidence · text
“Initial monazite recovery of approximately 72%, with a defined pathway toward recoveries above 80%.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades are explicitly stated for the heavy mineral sands resources (4% and 5.5% THM).
Evidence · text
“at a 4% cut-off grade”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The combined resource for Corridor Central and Corridor South includes an 'Inferred' component.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 1,534 Mt at 5.5% THM at a 4% cut-off grade”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The company is advancing towards a 'maiden Mineral Resource Estimate' for the Adriano-Fotinho corridor.
Evidence · text
“ahead of a maiden Mineral Resource Estimate.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document provides updated mineral resource estimates for Corridor Central and Corridor South.
Evidence · text
“Corridor Central (11142C) hosts the Koko Massava deposit with a Global Indicated and Inferred JORC Mineral Resource of 1,534 Mt at 5.5% THM”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a flotation route ("flotation")
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Extracted facts
Stored fact records: 49. Some facts used in scoring do not have a stored record.
Drill Results (17)
D25RC037Garies Rare Earth · rare_earthsGrade: 4.49Grade Unit: %Intercept: 6.6 mView all detailsHide details
Identity
- Hole ID
- D25RC037
- Project
- Garies Rare Earth
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- south_africa
- Ticker
- MRQ
Geometry
- Grade
- 4.49
- Grade Unit
- %
- Intercept
- 6.6 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- DrillTarg
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept represents an exceptionally high-grade rare earth result, well above typical high-grade deposits, indicating strong potential for the Garies project.
Positive factors
- Exceptional grade of 4.49% TREO, significantly above the global benchmark of 1-2% TREO.
- Good intercept length of 6.6 metres, indicating a substantial mineralized zone.
- The result is from the DrillTarg prospect, which is a key focus area for the company.
Evidence · text
“6.6 metres at 4.49% TREO in hole D25RC037.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Bonanza InterceptRejected · positive
Exceptionally high-grade zone, well above the deposit-type norm.
Reason: The grade of 4.49% TREO is described as a 'peak intersection' and is significantly above the global benchmark of 1-2% TREO for high-grade rare earth deposits.
Evidence · text
“6.6 metres at 4.49% TREO in hole D25RC037. ... against a global benchmark where most high-grade rare earth deposits grade between 1% and 2% TREO.”
D25RC030Garies Rare Earth · rare_earthsGrade: 3.39Grade Unit: %Intercept: 5.45 mView all detailsHide details
Identity
- Hole ID
- D25RC030
- Project
- Garies Rare Earth
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- south_africa
- Ticker
- MRQ
Geometry
- Grade
- 3.39
- Grade Unit
- %
- Intercept
- 5.45 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- DrillTarg
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept confirms high-grade rare earth mineralization at Garies, supporting the project's potential.
Positive factors
- Strong grade of 3.39% TREO, well above the global benchmark of 1-2% TREO.
- Good intercept length of 5.45 metres, indicating continuity of mineralization.
Evidence · text
“5.45 metres at 3.39% TREO in hole D25RC030.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Bonanza InterceptRejected · positive
Exceptionally high-grade zone, well above the deposit-type norm.
Reason: The grade of 3.39% TREO is significantly above the global benchmark of 1-2% TREO for high-grade rare earth deposits.
Evidence · text
“5.45 metres at 3.39% TREO in hole D25RC030. ... Most high-grade rare earth deposits worldwide grade between 1% and 2% TREO.”
D25RC023Garies Rare Earth · rare_earthsGrade: 3.35Grade Unit: %Intercept: 6 mView all detailsHide details
Identity
- Hole ID
- D25RC023
- Project
- Garies Rare Earth
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- south_africa
- Ticker
- MRQ
Geometry
- Grade
- 3.35
- Grade Unit
- %
- Intercept
- 6 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- DrillTarg
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept further confirms high-grade rare earth mineralization at Garies, supporting the project's potential.
Positive factors
- Strong grade of 3.35% TREO, well above the global benchmark of 1-2% TREO.
- Good intercept length of 6.0 metres, indicating continuity of mineralization.
Evidence · text
“6.0 metres at 3.35% TREO in hole D25RC023.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Bonanza InterceptRejected · positive
Exceptionally high-grade zone, well above the deposit-type norm.
Reason: The grade of 3.35% TREO is significantly above the global benchmark of 1-2% TREO for high-grade rare earth deposits.
Evidence · text
“6.0 metres at 3.35% TREO in hole D25RC023. ... Most high-grade rare earth deposits worldwide grade between 1% and 2% TREO.”
D25RC028Garies Rare Earth · rare_earthsGrade: 3.34Grade Unit: %Intercept: 5.8 mView all detailsHide details
Identity
- Hole ID
- D25RC028
- Project
- Garies Rare Earth
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- south_africa
- Ticker
- MRQ
Geometry
- Grade
- 3.34
- Grade Unit
- %
- Intercept
- 5.8 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- DrillTarg
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept further confirms high-grade rare earth mineralization at Garies, supporting the project's potential.
Positive factors
- Strong grade of 3.34% TREO, well above the global benchmark of 1-2% TREO.
- Good intercept length of 5.8 metres, indicating continuity of mineralization.
Evidence · text
“5.8 metres at 3.34% TREO in hole D25RC028.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Bonanza InterceptRejected · positive
Exceptionally high-grade zone, well above the deposit-type norm.
Reason: The grade of 3.34% TREO is significantly above the global benchmark of 1-2% TREO for high-grade rare earth deposits.
Evidence · text
“5.8 metres at 3.34% TREO in hole D25RC028. ... Most high-grade rare earth deposits worldwide grade between 1% and 2% TREO.”
D25RC045Garies Rare Earth · rare_earthsGrade: 3.01Grade Unit: %Intercept: 4.75 mView all detailsHide details
Identity
- Hole ID
- D25RC045
- Project
- Garies Rare Earth
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- south_africa
- Ticker
- MRQ
Geometry
- Grade
- 3.01
- Grade Unit
- %
- Intercept
- 4.75 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- DrillTarg
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept further confirms high-grade rare earth mineralization at Garies, supporting the project's potential.
Positive factors
- Strong grade of 3.01% TREO, well above the global benchmark of 1-2% TREO.
- Good intercept length of 4.75 metres, indicating continuity of mineralization.
Evidence · text
“4.75 metres at 3.01% TREO in hole D25RC045.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Bonanza InterceptRejected · positive
Exceptionally high-grade zone, well above the deposit-type norm.
Reason: The grade of 3.01% TREO is significantly above the global benchmark of 1-2% TREO for high-grade rare earth deposits.
Evidence · text
“4.75 metres at 3.01% TREO in hole D25RC045. ... Most high-grade rare earth deposits worldwide grade between 1% and 2% TREO.”
Fact 6Garies Rare Earth · galliumGrade: 290Grade Unit: ppm gallium oxideNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Garies Rare Earth
- Commodity
- gallium
- Region
- south_africa
- Reported Region
- south_africa
- Ticker
- MRQ
Geometry
- Grade
- 290
- Grade Unit
- ppm gallium oxide
Classification
- Program
- exploration
- Sample Type
- drill
Location
- Loc. Confidence
- low
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The identification of significant gallium in drill samples is a novel and potentially material discovery, opening up new revenue streams for the Garies project.
Positive factors
- Discovery of significant gallium, adding potential byproduct value to the rare earth project.
- Gallium is hosted in free pyrite grains, suggesting potential for concentration.
Evidence · text
“averaging 290 ppm gallium oxide across 85 drill samples.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 7Garies Rare Earth · galliumGrade: 450Grade Unit: ppm gallium oxideNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Garies Rare Earth
- Commodity
- gallium
- Region
- south_africa
- Reported Region
- south_africa
- Ticker
- MRQ
Geometry
- Grade
- 450
- Grade Unit
- ppm gallium oxide
Classification
- Program
- exploration
- Sample Type
- drill
Location
- Loc. Confidence
- low
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The peak gallium grade further supports the potential economic significance of this byproduct.
Positive factors
- High peak grade of 450 ppm gallium oxide, indicating zones of higher concentration.
Evidence · text
“maximum of 450 ppm.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 8Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 4.5Grade Unit: %Intercept: 2.84 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 4.5
- Grade Unit
- %
- Intercept
- 2.84 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Adriano
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Auger drilling results confirm significant heavy mineral sands mineralization at Adriano, suggesting a viable shallow resource.
Positive factors
- Good weighted average grade of 4.50% THM over a reasonable width, indicating potential for economic heavy mineral sands.
- Mineralization occurs at surface, supporting a potential low-cost, low-strip development pathway.
Evidence · text
“weighted average grade of 4.50% THM over an average 2.84 metres, with no cut-off applied.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 9Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 7.16Grade Unit: %Intercept: 2 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 7.16
- Grade Unit
- %
- Intercept
- 2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Adriano
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This best intercept highlights the potential for high-grade zones within the Adriano heavy mineral sands project.
Positive factors
- High-grade intercept of 7.16% THM over 2.0 metres, indicating strong heavy mineral concentration.
Evidence · text
“Best result of 7.16% THM over 2.0 metres”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 10Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 9.56Grade Unit: %Intercept: 1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 9.56
- Grade Unit
- %
- Intercept
- 1 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Adriano
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This peak sample grade demonstrates the presence of very high-grade heavy mineral sands within the Adriano project.
Positive factors
- Very high individual sample grade of 9.56% THM, indicating localized high concentrations of heavy minerals.
Evidence · text
“individual samples to 9.56% THM over 1.0 metre.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 11Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 4.56Grade Unit: %Intercept: 3.95 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 4.56
- Grade Unit
- %
- Intercept
- 3.95 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Adriano
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This auger drill result from the fifth target at Adriano further supports the project's heavy mineral sands potential.
Positive factors
- Good grade of 4.56% THM over a significant width of 3.95 metres, indicating consistent mineralization.
Evidence · text
“Best hole at the fifth target of 4.56% THM over 3.95 metres”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 12Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 6.14Grade Unit: %Intercept: 1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 6.14
- Grade Unit
- %
- Intercept
- 1 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Adriano
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This peak sample grade demonstrates the presence of very high-grade heavy mineral sands within the Adriano project.
Positive factors
- High peak sample grade of 6.14% THM, indicating localized high concentrations of heavy minerals.
Evidence · text
“peak one metre sample of 6.14% THM.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
FHA25015Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 9.49Grade Unit: %Intercept: 1 mView all detailsHide details
Identity
- Hole ID
- FHA25015
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 9.49
- Grade Unit
- %
- Intercept
- 1 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Fotinho
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This best intersection from Fotinho auger drilling demonstrates the presence of very high-grade heavy mineral sands.
Positive factors
- Very high-grade intersection of 9.49% THM, indicating strong heavy mineral concentration.
Evidence · text
“Best intersection of 9.49% THM over 1.0 metre in hole FHA25015.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
FHA25008Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 5.84Grade Unit: %Intercept: 2 mView all detailsHide details
Identity
- Hole ID
- FHA25008
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 5.84
- Grade Unit
- %
- Intercept
- 2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Fotinho
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This auger drill result from Fotinho further supports the project's heavy mineral sands potential.
Positive factors
- Good grade of 5.84% THM over 2.0 metres, indicating consistent heavy mineral concentration.
Evidence · text
“5.84% THM over 2.0 metres in hole FHA25008.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
FHA25002Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 5.22Grade Unit: %Intercept: 4.3 mView all detailsHide details
Identity
- Hole ID
- FHA25002
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 5.22
- Grade Unit
- %
- Intercept
- 4.3 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Fotinho
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This auger drill result from Fotinho further supports the project's heavy mineral sands potential.
Positive factors
- Good grade of 5.22% THM over a significant width of 4.3 metres, indicating consistent heavy mineral concentration.
Evidence · text
“5.22% THM over 4.3 metres in hole FHA25002.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 16Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 3.23Grade Unit: %Needs review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 3.23
- Grade Unit
- %
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Fotinho
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The weighted average grade indicates consistent heavy mineral sands mineralization across the Fotinho project area.
Positive factors
- Consistent weighted average grade of 3.23% THM across the Fotinho auger program.
Evidence · text
“Weighted average grade of 3.23% THM.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 17Adriano-Fotinho Rare Earth Corridor · heavy mineral sandsGrade: 7.69Grade Unit: %Intercept: 1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- mozambique
- Ticker
- MRQ
Geometry
- Grade
- 7.69
- Grade Unit
- %
- Intercept
- 1 m
Classification
- Program
- exploration
- Sample Type
- drill
- Mining Method
- open_pit
Location
- Location
- Fotinho
- Loc. Confidence
- low
- Loc. Source
- document
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This post-balance date auger drill result from Fotinho further demonstrates the presence of very high-grade heavy mineral sands.
Positive factors
- Very high-grade intersection of 7.69% THM, indicating strong heavy mineral concentration.
Evidence · text
“best intersection of 7.69% THM over 1.0 metre.”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (12)
indicatedCorridor Central · heavy mineral sandsTonnes: 1534000000Grade: 5.5Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor Central
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:971f35828373cf328f6e
- Deposit or zone
- Koko Massava
Resource Data
- Category
- indicated
- Tonnes
- 1534000000
- Grade
- 5.5
- Grade Unit
- % THM
- Cutoff Grade
- 4
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a substantial JORC compliant heavy mineral sands resource, forming a strong foundation for the titanium dioxide joint venture.
Positive factors
- Very large tonnage of 1,534 Mt, indicating a significant heavy mineral sands deposit.
- Good grade of 5.5% THM at a reasonable cut-off grade.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 1,534 Mt at 5.5% THM at a 4% cut-off grade”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is reported as 'Indicated and Inferred', with Indicated being the higher confidence category.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 1,534 Mt at 5.5% THM at a 4% cut-off grade”
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCorridor Central · heavy mineral sandsTonnes: 1534000000Grade: 5.5Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor Central
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:f80812df585e3b680bac
- Deposit or zone
- Koko Massava
Resource Data
- Category
- inferred
- Tonnes
- 1534000000
- Grade
- 5.5
- Grade Unit
- % THM
- Cutoff Grade
- 4
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a substantial JORC compliant heavy mineral sands resource, forming a strong foundation for the titanium dioxide joint venture.
Positive factors
- Very large tonnage of 1,534 Mt, indicating a significant heavy mineral sands deposit.
- Good grade of 5.5% THM at a reasonable cut-off grade.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 1,534 Mt at 5.5% THM at a 4% cut-off grade”
Tags used in scoring
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCorridor Central · heavy mineral sandsTonnes: 103000000Grade: 6.6Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor Central
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:542954b953775964bcb2
- Deposit or zone
- Koko Massava
Resource Data
- Category
- indicated
- Tonnes
- 103000000
- Grade
- 6.6
- Grade Unit
- % THM
- Cutoff Grade
- 5.5
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The identified high-grade zone within Corridor Central significantly enhances the project's economic potential.
Positive factors
- High-grade zone with 103 Mt at 6.6% THM, indicating a valuable core to the deposit.
- Higher cut-off grade (5.5%) suggests robust economics for this zone.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“including a high-grade zone of 103 Mt at 6.6% THM at a 5.5% cut-off grade.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The high-grade zone is part of the 'Indicated and Inferred' resource, with Indicated being the higher confidence category.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 1,534 Mt at 5.5% THM at a 4% cut-off grade”
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCorridor Central · heavy mineral sandsTonnes: 103000000Grade: 6.6Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor Central
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:3ead8e441e03eb180dcb
- Deposit or zone
- Koko Massava
Resource Data
- Category
- inferred
- Tonnes
- 103000000
- Grade
- 6.6
- Grade Unit
- % THM
- Cutoff Grade
- 5.5
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The identified high-grade zone within Corridor Central significantly enhances the project's economic potential.
Positive factors
- High-grade zone with 103 Mt at 6.6% THM, indicating a valuable core to the deposit.
- Higher cut-off grade (5.5%) suggests robust economics for this zone.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“including a high-grade zone of 103 Mt at 6.6% THM at a 5.5% cut-off grade.”
Tags used in scoring
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCorridor South · heavy mineral sandsTonnes: 860000000Grade: 4.9Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:1b964bf1963418eb7b9e
- Deposit or zone
- Nhacutse and Poiombo
Resource Data
- Category
- indicated
- Tonnes
- 860000000
- Grade
- 4.9
- Grade Unit
- % THM
- Cutoff Grade
- 4
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a substantial JORC compliant heavy mineral sands resource, further strengthening the titanium dioxide joint venture.
Positive factors
- Large tonnage of 860 Mt, indicating a significant heavy mineral sands deposit.
- Good grade of 4.9% THM at a reasonable cut-off grade.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 860 Mt at 4.9% THM at a 4% cut-off grade”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is reported as 'Indicated and Inferred', with Indicated being the higher confidence category.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 860 Mt at 4.9% THM at a 4% cut-off grade”
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCorridor South · heavy mineral sandsTonnes: 860000000Grade: 4.9Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:074ee9007ffa2201442c
- Deposit or zone
- Nhacutse and Poiombo
Resource Data
- Category
- inferred
- Tonnes
- 860000000
- Grade
- 4.9
- Grade Unit
- % THM
- Cutoff Grade
- 4
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a substantial JORC compliant heavy mineral sands resource, further strengthening the titanium dioxide joint venture.
Positive factors
- Large tonnage of 860 Mt, indicating a significant heavy mineral sands deposit.
- Good grade of 4.9% THM at a reasonable cut-off grade.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 860 Mt at 4.9% THM at a 4% cut-off grade”
Tags used in scoring
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCorridor South · heavy mineral sandsTonnes: 257000000Grade: 6Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:4e25bcdc28f609fc2a06
- Deposit or zone
- Nhacutse and Poiombo
Resource Data
- Category
- indicated
- Tonnes
- 257000000
- Grade
- 6
- Grade Unit
- % THM
- Cutoff Grade
- 5
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The identified high-grade zone within Corridor South significantly enhances the project's economic potential.
Positive factors
- High-grade zone with 257 Mt at 6.0% THM, indicating a valuable core to the deposit.
- Higher cut-off grade (5%) suggests robust economics for this zone.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“including a high-grade zone of 257 Mt at 6.0% THM at a 5% cut-off grade.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The high-grade zone is part of the 'Indicated and Inferred' resource, with Indicated being the higher confidence category.
Evidence · text
“Global Indicated and Inferred JORC Mineral Resource of 860 Mt at 4.9% THM at a 4% cut-off grade”
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCorridor South · heavy mineral sandsTonnes: 257000000Grade: 6Grade Unit: % THMView all detailsHide details
Identity
- Project
- Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:c8e884d5ce9de3420c51
- Deposit or zone
- Nhacutse and Poiombo
Resource Data
- Category
- inferred
- Tonnes
- 257000000
- Grade
- 6
- Grade Unit
- % THM
- Cutoff Grade
- 5
- Cutoff Unit
- %
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The identified high-grade zone within Corridor South significantly enhances the project's economic potential.
Positive factors
- High-grade zone with 257 Mt at 6.0% THM, indicating a valuable core to the deposit.
- Higher cut-off grade (5%) suggests robust economics for this zone.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“including a high-grade zone of 257 Mt at 6.0% THM at a 5% cut-off grade.”
Tags used in scoring
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCorridor Central and Corridor South · heavy mineral sandsTonnes: 2000000000View all detailsHide details
Identity
- Project
- Corridor Central and Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:173b4c1861d14d523a0b
Resource Data
- Category
- indicated
- Tonnes
- 2000000000
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The combined resource size is exceptionally large, positioning the titanium dioxide joint venture as a globally significant project.
Positive factors
- Massive combined resource exceeding 2 billion tonnes, indicating a world-class heavy mineral sands project.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“The combined Global Indicated and Inferred JORC Mineral Resource across the two licences exceeds 2 billion tonnes.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The combined resource is reported as 'Indicated and Inferred', with Indicated being the higher confidence category.
Evidence · text
“The combined Global Indicated and Inferred JORC Mineral Resource across the two licences exceeds 2 billion tonnes.”
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCorridor Central and Corridor South · heavy mineral sandsTonnes: 2000000000View all detailsHide details
Identity
- Project
- Corridor Central and Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:8adc69987695518bfc57
Resource Data
- Category
- inferred
- Tonnes
- 2000000000
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The combined resource size is exceptionally large, positioning the titanium dioxide joint venture as a globally significant project.
Positive factors
- Massive combined resource exceeding 2 billion tonnes, indicating a world-class heavy mineral sands project.
- JORC compliant resource, providing a high level of confidence.
Evidence · text
“The combined Global Indicated and Inferred JORC Mineral Resource across the two licences exceeds 2 billion tonnes.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 11Corridor Central and Corridor South · heavy mineral sandsTonnes: 170000000View all detailsHide details
Identity
- Project
- Corridor Central and Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:3210b9293e73f69bf2bb
Resource Data
- Tonnes
- 170000000
- Cutoff Grade
- 3
- Cutoff Unit
- % THM
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The exploration target highlights substantial potential for future resource expansion, although it is conceptual in nature.
Positive factors
- Large exploration target range, indicating significant upside potential for resource growth.
Evidence · text
“A combined Exploration Target range of 170 Mt to 1,130 Mt applies across the two licences, reported at a cut-off grade of 3% to 5% THM.”
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 12Corridor Central and Corridor South · heavy mineral sandsTonnes: 1130000000View all detailsHide details
Identity
- Project
- Corridor Central and Corridor South
- Commodity
- heavy mineral sands
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:dd0ac072b22573bd6d07
Resource Data
- Tonnes
- 1130000000
- Cutoff Grade
- 5
- Cutoff Unit
- % THM
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The exploration target highlights substantial potential for future resource expansion, although it is conceptual in nature.
Positive factors
- Large exploration target range, indicating significant upside potential for resource growth.
Evidence · text
“A combined Exploration Target range of 170 Mt to 1,130 Mt applies across the two licences, reported at a cut-off grade of 3% to 5% THM.”
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Metallurgical Results (20)
flotationGaries Rare Earth Project · rare_earthsRecovery: 72 %View all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Recovery
- Recovery
- 72 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The metallurgical testwork demonstrates promising monazite recovery using conventional methods, which is a key de-risking step for the Garies project.
Positive factors
- Strong initial monazite recovery of 72%, indicating good amenability to conventional processing.
- Defined pathway towards recoveries above 80%, suggesting further optimization potential.
- Testwork conducted on a large composite sample (350 kg), providing robust results.
Evidence · text
“Initial monazite recovery of approximately 72%, with a defined pathway toward recoveries above 80%.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGaries Rare Earth Project · monaziteView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- monazite
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Recovery
- Conc. Grade
- 51
- Conc. Grade Unit
- % monazite
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The high concentrate grade demonstrates the ability to produce a saleable monazite product from the Garies ore.
Positive factors
- High-grade monazite concentrate of 51% monazite, indicating effective separation.
Evidence · text
“Monazite concentrate grading approximately 51% monazite.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGaries Rare Earth Project · rare_earthsView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Recovery
- Conc. Grade
- 60
- Conc. Grade Unit
- % rare earth oxides
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The high REO grade in the monazite concentrate confirms the quality of the rare earth product from Garies.
Positive factors
- High-grade rare earth oxide content in the recovered monazite, indicating a valuable product.
Evidence · text
“Recovered monazite grading approximately 60% rare earth oxides.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGaries Rare Earth Project · neodymiumView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- neodymium
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The significant presence of magnet rare earths indicates a high-value rare earth basket, which is a strong positive for the project.
Positive factors
- High proportion of valuable magnet rare earths (neodymium, praseodymium, terbium, dysprosium) at 26% of TREO, enhancing project economics.
Evidence · text
“Magnet rare earths neodymium, praseodymium, terbium and dysprosium comprising approximately 26% of TREO.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGaries Rare Earth Project · praseodymiumView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- praseodymium
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The significant presence of magnet rare earths indicates a high-value rare earth basket, which is a strong positive for the project.
Positive factors
- High proportion of valuable magnet rare earths (neodymium, praseodymium, terbium, dysprosium) at 26% of TREO, enhancing project economics.
Evidence · text
“Magnet rare earths neodymium, praseodymium, terbium and dysprosium comprising approximately 26% of TREO.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGaries Rare Earth Project · terbiumView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- terbium
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The significant presence of magnet rare earths indicates a high-value rare earth basket, which is a strong positive for the project.
Positive factors
- High proportion of valuable magnet rare earths (neodymium, praseodymium, terbium, dysprosium) at 26% of TREO, enhancing project economics.
Evidence · text
“Magnet rare earths neodymium, praseodymium, terbium and dysprosium comprising approximately 26% of TREO.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGaries Rare Earth Project · dysprosiumView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- dysprosium
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The significant presence of magnet rare earths indicates a high-value rare earth basket, which is a strong positive for the project.
Positive factors
- High proportion of valuable magnet rare earths (neodymium, praseodymium, terbium, dysprosium) at 26% of TREO, enhancing project economics.
Evidence · text
“Magnet rare earths neodymium, praseodymium, terbium and dysprosium comprising approximately 26% of TREO.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGaries Rare Earth Project · rare_earthsView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- rare_earths
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- conventional crushing, milling, magnetic separation, gravity concentration and flotation
- Sample
- approximately 350 kilogram composite of high-grade DrillTarg mineralisation
Lab
- Laboratory
- Light Deep Earth Laboratories
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The presence of valuable heavy rare earths further enhances the economic potential of the Garies project.
Positive factors
- Significant contribution of heavy rare earths (9% of TREO), which are among the most valuable rare earths.
Evidence · text
“heavy rare earths accounting for approximately 9%.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
Fact 9Garies Rare Earth Project · galliumView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- gallium
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- rare-earth-rich concentrates
Recovery
- Conc. Grade
- 880
- Conc. Grade Unit
- ppm
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The presence of high gallium grades in concentrates suggests it could be a valuable byproduct, enhancing project economics.
Positive factors
- High gallium grades in rare-earth-rich concentrates, indicating potential for co-production.
Evidence · text
“two rare-earth-rich concentrates returned 880 ppm and 573 ppm.”
Fact 10Garies Rare Earth Project · galliumView all detailsHide details
Identity
- Project
- Garies Rare Earth Project
- Commodity
- gallium
- Region
- south_africa
- Reported Region
- Northern Cape Province, South Africa
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- rare-earth-rich concentrates
Recovery
- Conc. Grade
- 573
- Conc. Grade Unit
- ppm
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The presence of high gallium grades in concentrates suggests it could be a valuable byproduct, enhancing project economics.
Positive factors
- High gallium grades in rare-earth-rich concentrates, indicating potential for co-production.
Evidence · text
“two rare-earth-rich concentrates returned 880 ppm and 573 ppm.”
Fact 11Adriano-Fotinho Rare Earth Corridor · ilmeniteView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- ilmenite
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Conc. Grade
- 24.4
- Conc. Grade Unit
- %
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Mineralogy results confirm a high proportion of ilmenite, a key component for the titanium dioxide joint venture.
Positive factors
- Significant ilmenite content (24.4%) in the heavy mineral concentrate, indicating a valuable titanium mineral.
Evidence · text
“Ilmenite 24.4%, rutile 2.3%, monazite 1.9%, zircon 1.9% and leucoxene 1.8%.”
Fact 12Adriano-Fotinho Rare Earth Corridor · rutileView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- rutile
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Conc. Grade
- 2.3
- Conc. Grade Unit
- %
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Mineralogy results confirm the presence of rutile, a valuable heavy mineral, in the Adriano concentrate.
Positive factors
- Presence of rutile (2.3%) in the heavy mineral concentrate, contributing to the overall value.
Evidence · text
“Ilmenite 24.4%, rutile 2.3%, monazite 1.9%, zircon 1.9% and leucoxene 1.8%.”
Fact 13Adriano-Fotinho Rare Earth Corridor · monaziteView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- monazite
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Conc. Grade
- 1.9
- Conc. Grade Unit
- %
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Mineralogy results confirm the presence of monazite, a rare earth mineral, in the Adriano concentrate.
Positive factors
- Presence of monazite (1.9%) in the heavy mineral concentrate, indicating a rare earth component.
Evidence · text
“Ilmenite 24.4%, rutile 2.3%, monazite 1.9%, zircon 1.9% and leucoxene 1.8%.”
Fact 14Adriano-Fotinho Rare Earth Corridor · zirconView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- zircon
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Conc. Grade
- 1.9
- Conc. Grade Unit
- %
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Mineralogy results confirm the presence of zircon, a valuable heavy mineral, in the Adriano concentrate.
Positive factors
- Presence of zircon (1.9%) in the heavy mineral concentrate, contributing to the overall value.
Evidence · text
“Ilmenite 24.4%, rutile 2.3%, monazite 1.9%, zircon 1.9% and leucoxene 1.8%.”
Fact 15Adriano-Fotinho Rare Earth Corridor · leucoxeneView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- leucoxene
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Conc. Grade
- 1.8
- Conc. Grade Unit
- %
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Mineralogy results confirm the presence of leucoxene, a valuable heavy mineral, in the Adriano concentrate.
Positive factors
- Presence of leucoxene (1.8%) in the heavy mineral concentrate, contributing to the overall value.
Evidence · text
“Ilmenite 24.4%, rutile 2.3%, monazite 1.9%, zircon 1.9% and leucoxene 1.8%.”
Fact 16Adriano-Fotinho Rare Earth Corridor · rare_earthsHead Grade: 1.46Head Grade Unit: % total rare earth oxideView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- rare_earths
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Head Grade
- 1.46
- Head Grade Unit
- % total rare earth oxide
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The TREO grade in the heavy mineral concentrate confirms the rare earth potential of the Adriano project.
Positive factors
- Good composite grade of 1.46% TREO, indicating a significant rare earth component in the heavy mineral sands.
Evidence · text
“Composite grade of 1.46% total rare earth oxide.”
Fact 17Adriano-Fotinho Rare Earth Corridor · praseodymiumHead Grade: 3264Head Grade Unit: ppmView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- praseodymium
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Head Grade
- 3264
- Head Grade Unit
- ppm
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The presence of high-value magnet rare earths in the Adriano concentrate enhances its economic potential.
Positive factors
- Significant concentration of valuable magnet rare earths (praseodymium and neodymium) in the concentrate.
Evidence · text
“3,264 ppm praseodymium oxide plus neodymium oxide.”
Fact 18Adriano-Fotinho Rare Earth Corridor · neodymiumHead Grade: 3264Head Grade Unit: ppmView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- neodymium
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Head Grade
- 3264
- Head Grade Unit
- ppm
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The presence of high-value magnet rare earths in the Adriano concentrate enhances its economic potential.
Positive factors
- Significant concentration of valuable magnet rare earths (praseodymium and neodymium) in the concentrate.
Evidence · text
“3,264 ppm praseodymium oxide plus neodymium oxide.”
Fact 19Adriano-Fotinho Rare Earth Corridor · terbiumHead Grade: 103Head Grade Unit: ppmView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- terbium
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Head Grade
- 103
- Head Grade Unit
- ppm
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The presence of heavy rare earths in the Adriano concentrate adds to its overall value.
Positive factors
- Presence of valuable heavy rare earths (terbium and dysprosium) in the concentrate.
Evidence · text
“103 ppm terbium oxide plus dysprosium oxide.”
Fact 20Adriano-Fotinho Rare Earth Corridor · dysprosiumHead Grade: 103Head Grade Unit: ppmView all detailsHide details
Identity
- Project
- Adriano-Fotinho Rare Earth Corridor
- Commodity
- dysprosium
- Region
- mozambique
- Reported Region
- Mozambique
- Ticker
- MRQ
Test Work
- Program Status
- preliminary
- Sample
- composite heavy mineral concentrate drawn from four Adriano targets
Recovery
- Head Grade
- 103
- Head Grade Unit
- ppm
Lab
- Laboratory
- SGS
Location
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The presence of heavy rare earths in the Adriano concentrate adds to its overall value.
Positive factors
- Presence of valuable heavy rare earths (terbium and dysprosium) in the concentrate.
Evidence · text
“103 ppm terbium oxide plus dysprosium oxide.”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.