Northwire Canada EditionTuesday, November 10, 2026
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Gold 4,064.60 −1.2% Silver 51.85 −1.6% Copper 6.25 −1.4% Oil 84.52 −2.7% Palladium 1,029.50 +0.8% GAL 0.380 +0.0% VCG 1.02 +0.0% LVX 0.340 +0.0% RAMP 0.270 +0.0% QTWO 1.61 +0.0% SUM 1.32 +0.0% SGML 8.35 +0.0% BOGO 0.790 +0.0% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.320 +0.0% SAG 0.660 +0.0% SNAG 0.195 +0.0% Gold 4,064.60 −1.2% Silver 51.85 −1.6% Copper 6.25 −1.4% Oil 84.52 −2.7% Palladium 1,029.50 +0.8% GAL 0.380 +0.0% VCG 1.02 +0.0% LVX 0.340 +0.0% RAMP 0.270 +0.0% QTWO 1.61 +0.0% SUM 1.32 +0.0% SGML 8.35 +0.0% BOGO 0.790 +0.0% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.320 +0.0% SAG 0.660 +0.0% SNAG 0.195 +0.0%
M&A / Property

Electrum Discovery Completes Merger with MinRex Resources

Tagline: Electrum Merger Closes as Planned, Shareholders Transition to MinRex

By The Northwire Desk — AI Analysis Apr 12, 2026 · 17:30 ELY · 0.105 Electrum Discovery Corp.
Executive Summary
  • On April 12, 2026, Electrum Discovery Corp. announced the completion of its statutory plan of arrangement with MinRex Resources Limited.
  • Electrum becomes a wholly-owned subsidiary of MinRex; ELY shares will be delisted from TSX-V and OTC Venture effective April 14, 2026.
  • Shareholders received 7.900363636 MinRex ordinary shares for each Electrum share held.
  • All convertible securities (options, warrants) were cancelled and converted into MinRex shares on a Black-Scholes basis.
  • Post-transaction ownership: Former Electrum shareholders hold ~49.3% of MinRex; existing MinRex shareholders hold ~50.7%.
  • This news confirms the closing timeline set in the April 2, 2026 court order announcement and the January 5, 2026 merger agreement.
Material Impact
  • The completion is expected and follows the trajectory established since the merger announcement on January 5, 2026.
  • No new valuation metrics or unexpected terms were introduced in this release compared to the January announcement.
  • The primary impact is administrative: conversion of holdings from TSX-V (ELY) to ASX-listed MinRex shares.
  • For existing shareholders, deal risk has been eliminated as the transaction closed without last-minute regulatory hurdles beyond the April 2 court order.
  • The news does not materially alter the fundamental value proposition established in January, which was already priced into the stock during the run-up from $0.07 to $0.12 between January and March 2026.
ELY · Price
Company Overview
  • Company: Electrum Discovery Corp. was a mineral exploration company focused on gold and copper assets in Serbia and Australia.
  • Flagship Project: Novo Tlamino Gold Project (Serbia) with an inferred resource of 670,000 oz AuEq (7.1 Mt @ 2.9 g/t AuEq per 2021 PEA).
  • Secondary Projects: Timok East Copper-Gold Project (Serbia), Sofala Gold Project (Australia).
  • Development Status: Novo Tlamino is in the exploration/development phase with a completed PEA; Timok East is early-stage exploration.
  • Royalties: Donje Tlamino and Surlica-Dukat properties are subject to a 1% net smelter return royalty (NSR) in favour of a third party.
Read the original news release →

More from Electrum Discovery Corp.

Apr 02, 2026 · 09:45

Electrum secures final court approval for Australian merger, shifting focus to ASX listing and a well-capitalized Serbian-Australian portfolio.

M&A / Property Feb 26, 2026 · 17:05

Electrum Discovery Announces Filing and Mailing of Meeting Materials for the Special Meeting of Securityholders to be Held on March 24, 2026 and Receipt of Interim Order in Respect of Previously Announced Arrangement with MinRex Resources

M&A / Property Jan 21, 2026 · 02:00

Exploration advances at Timok East sustain momentum as market digests transformative ASX merger.

Drill Results Jan 05, 2026 · 17:00

Electrum Abandons TSX-V for ASX in Merger with MinRex to Escape Funding Drought

M&A / Property