Battery Metals

MetalsGrove June quarter recap: Trading below cash, catalyst rich September

Thu 28 Jul 22, 1:45pm (AEDT)
Sprout 6 Positive Growing Growth New
Source: iStock

Key Points

  • An airborne magnetic and radiometric survey is scheduled for all five MetalsGrove projects
  • Aggressive drilling is scheduled for the Bruce Project in October, prospective for gold, copper and rare earths
  • MetalsGrove has more cash on hand than its market cap

Multi-asset battery metals explorer MetalsGrove (ASX: MGA) recaps its first quarter since its successful $6m IPO in June. 

MetalsGrove has a strategic portfolio of exploration and near-term development assets, with a total of five projects across the Northern Territory and Western Australia.

Projects at a glance


Prospective for

Upcoming catalyst

Upper Coondina

Lithium, tin and tantalum

Airborne magnetic and radiometric (AMR) survey in September. Surface geochemical and sampling program to run concurrently

Woodie Woodie


AMR survey in September. Detailed surface mapping to follow

Edwards Creek

Copper, lead, zinc and gold

AMR survey in September. Ongoing consultations for exploration permits


Gold, copper and rare earths

AMR survey in September. Aggressive drilling to follow, likely in October

Box Hole

Zinc, lead and rare earths

AMR survey in September

Table: Market Index | Source: MetalsGrove

Trading below cash

MetalsGrove is currently trading below cash - meaning its market cap is lower than the company's cash holdings.

At June quarter end, MetalsGrove had $6.69m in cash. At its current share price of 14m cents, the company has a market cap of $5.0m.

MetalsGrove share price chart
MetalsGrove share price chart
DISCLAIMER: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. MetalsGrove was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


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Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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