Minrex Resources Limited (ASX: MRR) has announced a significant strategic shift in its operations, as outlined in its 2026 Annual Report. The company has transitioned from its previous focus on Australian gold exploration to prioritising advanced exploration and development projects in Europe, particularly in Serbia. This change was solidified through a merger with Electrum Discovery Corp, completed in April 2026, which has enabled Minrex to concentrate its efforts on European mineral resources.
The flagship asset for Minrex is the Tlamino Gold-Silver Project located in Serbia, which features the Barje deposit. This deposit currently holds an inferred resource of 670,000 ounces at a grade of 2.9 grams per tonne gold equivalent. To enhance this resource, Minrex has initiated a fully funded drilling programme aimed at upgrading the resource and preparing for an updated Scoping Study expected to be released in early 2027.
In addition to the Tlamino Project, Minrex’s portfolio includes the Timok East Copper-Gold Project, which represents a significant exploration opportunity in a prominent European copper belt. The company also retains the Sofala Gold Project in New South Wales, Australia, which contains a resource of 352,300 ounces of gold; however, this project is currently considered a secondary priority.
Financially, Minrex concluded the 2026 financial year in a strong position, reporting no debt and holding $6.04 million in cash. This financial stability ensures that the company can fully fund its upcoming drilling and technical programmes, despite reporting a net loss of $2,434,535 for the year.
Leadership changes have also occurred within the company, with Max Piirto appointed as CEO in April 2026 and Robert Edwards taking on the role of Non-Executive Chair in June 2026. To facilitate its operations in Serbia, Minrex has established a permanent base and local leadership team in the southern region, positioning itself to effectively drive the Tlamino Project forward.
