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M Resources acquires controlling stake in Metarock

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.

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