Metalsgrove Mining LimitedM
Metalsgrove Mining Limited (ASX: MGA, incorporated 2021) is a West Perth-based explorer that, during the 2026 financial year, redirected its exploration to gold in Côte d'Ivoire: the Central West Gold Project, four permits (Zuénoula and Vavoua granted, Vavoua West and Kounahiri West under application) held through two joint ventures in which it is earning up to 80%. It has applied to relinquish its Australian Bruce (Northern Territory) and Edwards Creek (Western Australia) licences, which it wrote down in its 2026 accounts. 2026 activity has focused on infill soil sampling, LiDAR-integrated targeting and auger drilling ahead of planned RC/diamond programs across the West African ground.
Notable vs. Peers
- Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Jurisdiction (40%)5/10
Its exploration is now the Central West Gold Project in central-west Côte d'Ivoire, held through earn-in joint ventures; its Australian licences are being relinquished. Côte d'Ivoire has an established mining code but more institutional and security risk than Tier-1 jurisdictions; scored 5 like most Côte d'Ivoire companies on this site.
Infrastructure (40%)No verified figure
Researched with nothing found: no source we could cite confirms or rules out an existing mill, road access, grid power, or tailings facility at Central West Gold Project (Zuénoula and Vavoua permits, earn-in joint ventures), central-west Côte d'Ivoire (checked Oct 5, 2026; recheck due Apr 3, 2027). Counts at a neutral 5/10 until one does.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:5/10
Côte d'Ivoire: jurisdiction score 5/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Non-Executive Chairperson of MetalsGrove Mining Limited (ASX: MGA), having served as a strategic advisor to MetalsGrove before joining the board as a Non-Executive Director and subsequently being appointed Chair. Over 35 years in exploration and mining, with 16 years focused on West African gold projects; discovered the Napie gold deposit in Cote d'Ivoire and was founder and Managing Director of ASX-listed Mako Gold until its merger with Aurum Resources. Fluent in French. Source: metalsgrove.com.au/corporate/.
Managing Director and CEO of MetalsGrove Mining Limited (ASX: MGA). B.Geo, MAIG, MSEG; over 15 years of experience in geology and mineral exploration in both China and Australia, and served as exploration manager and Executive Director for KalNorth Gold Mines Limited from 2013 to 2019. Bilingual in English and Mandarin, and qualifies as a Competent Person under the 2012 Australasian (JORC) Code. Source: metalsgrove.com.au/corporate/.
Non-Executive Director of MetalsGrove Mining Limited (ASX: MGA). Investment Director experienced in Australia's resource sector; holds a Chartered Financial Analyst qualification and is proficient in financial analysis, portfolio management and risk measurement. Previously Managing Director at Au Xingao Investment. Fluent in English and Chinese. Source: metalsgrove.com.au/corporate/.
Non-Executive Director of MetalsGrove Mining Limited (ASX: MGA). Over 20 years of commercial experience spanning food processing, international trade and mining investments; currently Executive Director of Baumart Holdings Limited (ASX: BMH) and President of the Chung Wah Association, focusing on Australia-China collaborations. Source: metalsgrove.com.au/corporate/.
Non-Executive Director and Senior Project Geologist of MetalsGrove Mining Limited (ASX: MGA). Experienced exploration geologist with over 15 years of experience in West African gold exploration, with expertise spanning geological mapping, geochemistry and drilling programs; previously site exploration manager at ASX-listed African Gold.
Non-Executive Director and Logistics and Admin Officer of MetalsGrove Mining Limited (ASX: MGA). Experienced logistics professional supporting exploration and mining operations in Cote d'Ivoire, with a background spanning logistics coordination, financial administration and accounting with international mining companies including Endeavour Mining and Desert Metals.
Chief Financial Officer & Company Secretary of MetalsGrove Mining Limited (ASX: MGA). Accountant with a career spanning thirty years, during which he has held significant roles as both a director and company secretary for multiple publicly listed companies; experience includes IPOs, backdoor listings, mergers and corporate funding. Source: metalsgrove.com.au/corporate/.
Business Development Executive of MetalsGrove Mining Limited (ASX: MGA). Principal of CRC Resources Group, generating African and Australian exploration opportunities; has been a director of ASX-listed companies for over 30 years and served as executive director of Perseus Mining Limited from 2003 to 2020, with extensive West African government engagement experience. Source: metalsgrove.com.au/corporate/.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Metalsgrove Mining redirected its exploration in the 2026 financial year to gold in Cote d'Ivoire, at the Central West Gold Project: four permits, Zuenoula and Vavoua granted and Vavoua West and Kounahiri West under application, held through two joint ventures in which it is earning up to 80%. Its 2026 work has focused on infill soil sampling, LiDAR-based targeting and auger drilling ahead of planned RC and diamond programs. It has applied to relinquish its Australian Bruce and Edwards Creek licences, which it wrote down in its 2026 accounts, and no project carries a resource estimate.