Australia

Australia

The Company’s recent 51% acquisition, with an option to acquire 90%, of the high-grade Munglinup Graphite Project located near Esperance Western Australia, is consistent with MRC’s strategy to capitalise on the fast growing sustainable renewable energy storage and electric vehicle revolution as well as downstream vertically integrated value-adding. The Company is confident that the Munglinup Graphite Project will be successfully developed by the December 2019 quarter.

The Company has also recently entered into agreements and applied for exploration licences over a number of prospective tenements in Western Australia, targeting vanadium, lithium, channel iron ore and gold/copper.