Mont Royal Resources

Mont Royal Resources Limited (ASX: MRZ; TSXV: MRZ) is a critical-minerals development company headquartered in Sydney, Australia, and dual-listed in Australia and Toronto. Following its October 2025 merger with Commerce Resources Corp., the company controls the 100%-owned Ashram Rare Earths and Fluorspar Deposit in Quebec, one of the largest monazite-dominant carbonatite-hosted rare earth deposits in North America, rich in neodymium, praseodymium and the heavy rare earths dysprosium and terbium plus fluorspar. Its portfolio also includes the Eldor niobium project and a 75% interest in the Northern Lights lithium project in Quebec’s James Bay district. A 2026 Preliminary Economic Assessment for Ashram outlined a post-tax net present value near C$2.03 billion over a 30-year mine life, alongside a substantial initial capital requirement. Mont Royal has secured conditional Critical Minerals Infrastructure Fund support for road access advancing the Ashram project toward development.