Q&A with Dr. Elena Clarici (CEO, Electrum Discovery) and James Pearce (Director, MinRex Resources)
By Jamie Hyland
Originally recorded from London and Perth on January 8, 2026
Electrum Discovery (TSX.V: ELY) and MinRex Resources (ASX: MRR) recently hosted a global investor webinar to outline their proposed merger of equals, designed to create a new ASX-listed gold and copper company with scale, liquidity and growth potential.
Investors can listen to the full webinar replay, including management’s presentation and live Q&A session with Dr. Elena Clarici and James Pearce, which provides deeper insight into the merger structure, ASX listing strategy and growth roadmap.
Q: What is the strategic logic behind this merger?
Dr. Elena Clarici:
This transaction is about unlocking value that already exists. Electrum holds high-quality gold and copper assets in Serbia, but those assets were being undervalued on the TSX-V. The ASX is the natural home for mining companies, particularly those with European and Australian projects.
By merging with MinRex, we gain access to a market that better understands mining risk, rewards advanced assets, and provides deeper pools of capital.
Q: Why was MinRex chosen as the partner?
James Pearce:
MinRex brings exactly what Electrum needs to accelerate: ASX experience, Australian copper-gold projects, and capital-markets expertise. Electrum brings advanced European gold assets.
Together, the portfolio becomes diversified across geography, commodity and development stage, which significantly reduces risk while improving investor appeal.
Q: What makes this a true “merger of equals”?
Clarici:
Neither company is being acquired. Both are contributing assets, teams, shareholders and governance into a new, larger company. The board and leadership structure reflects this balance.
The goal was to create something bigger and stronger than either company on its own — not a takeover.
Q: What will the combined asset base look like?
The merged company will have:
- Gold development projects in Serbia (Electrum)
- Copper-gold exploration projects in Australia (MinRex)
- Exposure to two of the strongest long-term commodity themes:
- Gold as a store of value
- Copper as the backbone of electrification and decarbonization
This creates a more resilient business across commodity cycles.
Q: Why is an ASX listing such a key part of the transaction?
Pearce:
The ASX is the world’s most liquid exchange for mining companies. Comparable companies with similar assets to Electrum trade at much higher valuations in Australia than in Canada or Europe.
Listing on the ASX means:
- Better liquidity
- Institutional investor access
- Research coverage
- Stronger valuation benchmarks
It’s a clear pathway to a re-rating.
Q: How does this benefit current shareholders?
Clarici:
Shareholders gain:
- A larger, more diversified company
- Better access to capital
- Increased trading liquidity
- Exposure to an ASX-listed mining vehicle
Most importantly, they gain the potential for a valuation uplift as the assets are seen by a more mining-focused investor base.
Bottom Line
The Electrum–MinRex merger is designed to create a new ASX-listed gold and copper growth company with European and Australian assets, improved liquidity, and clear re-rating potential — positioning shareholders for significantly greater long-term value.
