Posted on 17 March 2023 by M Resources
Shareholders in Mackay-based contractor Metarock (Mastermyne) have approved the sale of 51% of the business to the Matt Latimore-led M-Resources for around $25 million.
Under the deal with M-Resources, publicly listed Metarock will issue 166.7 million shares and 51.3 million options to M-Resources this week.
M-Resources continues to be a long-term investor in the coal sector, and is very pleased with the investment in Metarock. M Resources is excited to support the development and growth of one Australia’s largest ground underground mining services groups.