What happened to MinRex Resources Limited when it became Northstone Resources Limited on 6 October 2026?

Sonal Goyal

10 November 2026 06:18 PM AEDT

What happened to MinRex Resources Limited when it became Northstone Resources Limited on 6 October 2026?

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Key Highlights

MinRex Resources Limited changed its name to Northstone Resources Limited, with ASX trading under the new ticker NRL commencing on 6 October 2026.
The corporate transition followed Shareholder approval at the general meeting held on 30 September 2026.
Northstone's exploration activities are focused on the Tlamino Gold-Silver Project and Timok East Copper-Gold Project in Serbia.
On 5 November 2026, the company announced commitments for an AUD 2.37 million Placement to support exploration, drilling and technical studies.

Northstone Resources Limited (ASX:NRL), formerly MinRex Resources Limited , is an Australian-listed gold and copper exploration company with projects in Serbia and Australia. The company officially adopted its new name and ASX trading code on 6 October 2026, following shareholder approval in September. The change reflects its expanded focus on Serbian mineral exploration, particularly the Tlamino Gold-Silver Project and Timok East Copper-Gold Project.

What Changed Following the Corporate Renaming?

The transition from MinRex Resources Limited to Northstone Resources Limited involved a change in the company's registered name and ASX trading identifier.

The company announced the name change on 5 October 2026, with trading under the NRL code commencing on 6 October 2026.

The change followed a general meeting held on 30 September 2026, when shareholders approved the resolutions presented for consideration.

The corporate renaming did not represent the establishment of a separate listed entity. Existing ordinary shares continued under the company's updated identity, with NRL replacing MRR as the trading code.

The revised corporate identity also accompanied a change in the company's operational priorities following its expansion into Serbian gold and copper exploration.

Serbian Gold and Copper Projects Shape Exploration Activities

Northstone's Serbian portfolio includes the Tlamino Gold-Silver Project in southern Serbia and the Timok East Copper-Gold Project in eastern Serbia.

The Tlamino project includes the Barje gold-silver deposit, where the company has undertaken drilling to assess mineralisation continuity, geological characteristics and potential resource development.

During 2026, exploration activities included infill drilling, geological interpretation and testing of additional mineralised targets.

The company reported further drilling results from Barje during September and October 2026, contributing information for its ongoing resource assessment.

Tlamino has an existing mineral resource reported under the Canadian NI 43-101 framework. However, Northstone is working towards a maiden Mineral Resource Estimate prepared under the Australian JORC Code.

The Timok East project provides additional copper-gold exploration exposure, with field activities intended to assess prospective targets and determine priorities for future drilling.

AUD 2.37 Million Placement to Support Exploration

On 5 November 2026, Northstone announced firm commitments to raise approximately AUD 2.37 million before costs through a placement of 263,444,444 ordinary shares.

The placement price was set at AUD 0.009 per share, with the new securities expected to be issued on 11 November 2026.

Directors and management committed approximately AUD 240,000 to the Capital raising, including participation requiring shareholder approval.

The proposed placement structure also includes one attaching option for every two placement shares. These Options are exercisable at AUD 0.02 each and expire on 20 January 2030, subject to the required approvals.

Northstone intends to allocate the proceeds towards the maiden JORC Mineral Resource Estimate at Tlamino, technical studies, additional drilling and exploration at Timok East.

The funds will also support placement expenses and general Working Capital requirements.

Exploration Risks and Upcoming Development Milestones

Northstone remains exposed to risks associated with mineral exploration, including geological uncertainty, drilling outcomes, permitting requirements and the availability of future funding.

Although previous technical work has established a mineral resource at Tlamino under NI 43-101, the company is targeting its first JORC-compliant estimate for the project.

The preparation of this estimate will require the assessment of geological information, drilling results and resource classification requirements.

The company's proposed placement will increase its issued share capital, while the attaching options may create further dilution if exercised.

Northstone is targeting completion of the maiden JORC Mineral Resource Estimate during the December quarter of 2026.

Following that milestone, the company plans to progress scoping study activities to assess potential development scenarios at Tlamino.

The Annual General Meeting scheduled for 30 November 2026 will also address approvals associated with components of the capital raising.

Key Insights

The transition from MinRex Resources Limited to Northstone Resources Limited reflects a corporate identity change accompanying the company's increased focus on Serbian gold and copper exploration.

The AUD 2.37 million placement is intended to support technical studies, resource assessment and additional exploration across its project portfolio.

Future developments will depend on the completion of the Tlamino resource estimate, subsequent study outcomes, exploration results and the company's funding requirements.

Q1. Why did MinRex Resources Limited change its name?

Q2. What is the new ASX ticker for MinRex Resources Limited?

Q3. What are Northstone Resources' principal exploration projects?

Q4. How much capital did Northstone announce in November 2026?

Q5. What are the next milestones for Northstone Resources Limited ?

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