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2026-11-06
◂ Monitor MEU Australian Securities Exchange

Marmota Limited

Scoping Study Developer · Gold · Uranium · Others · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.073
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$94.6M
EV
A$80.4M
Cash
A$14.4M
Debt
A$180.4K
2 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

4 assets

Core asset

Gawler Gold Project

Australia

Scoping Study DeveloperGold

Gawler Gold includes wholly owned Aurora Tank and 90%-owned Golden Moon deposits; the Golden Moon 2018 JORC resource is legacy and excludes current Greenewood/Mainwood drilling. Stage 3 had 313 new holes by 23 September and was extended into early October; first assays are still pending. No updated resource, reserve or completed project economics has been published.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics

No numeric study economics were published.

Conceptual regional heap-leach facility at 1.0 Mtpa for at least seven years; economic outputs remain unavailable pending resource, mine schedule and engineering work.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceIndicated25 koz contained gold0.71 Mt at 1.1 g/t gold, 0.5 g/t cut-offGold2018-05-30
Mineral ResourceInferred260 koz contained gold7.1 Mt at 1.15 g/t gold, 0.5 g/t cut-offGold2018-05-30
Tenements3
el6470Granted48 km2 · No expiry supplied
el5998Granted33 km2 · No expiry supplied
el6569Granted104 km2 · No expiry supplied
Milestones3
  1. Report first Stage 3 Greenewood/Mainwood assays

    Pending · High materiality

  2. Establish the indicated-resource basis required for the scoping study

    Pending · High materiality

  3. Complete expanded Stage 3 Greenewood/Mainwood drilling

    Pending · High materiality

Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
Material Gawler exploration tenementsSouth AustraliaGranted—No
Economic studies1
StudyStageStatusDateSummary
Gawler Gold Scoping StudyScoping StudyCurrent2025-11-18Regional 1.0 Mtpa heap-leach concept for at least seven years remains under study; the originally indicated March-quarter 2026 timing slipped and 2026 drilling/assays are still being incorporated. No published capex, operating cost, NPV or mine schedule.

Material

Junction Dam Uranium Project

Australia

Resource Stage100% ownedUranium

100%-owned Saffron uranium resource and surrounding untested palaeochannel targets adjacent to Boss Energy's Honeymoon operation; drilling is designed and funded but awaits Native Title clearance.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceInferred5.4 Mlb contained U3O8557 ppm U3O8 averageUranium2013-07-17
Exploration TargetConceptual exploration target— Mlb contained U3O8approximately 400-700 ppm U3O8Uranium2012-07-09
Tenements1
el6530Granted341 km2 · No expiry supplied
Milestones2
  1. Obtain Native Title clearance for uranium restart drilling

    Pending · High materiality

  2. Commence fully designed Junction Dam uranium restart program

    Pending · High materiality

Permits & approvals2
PermitJurisdictionStatusExpiryCritical path
Junction Dam EL 6530 exploration titleSouth AustraliaGranted—No
Native Title clearance for planned drillingSouth AustraliaPending—Yes

Material

Muckanippie Titanium-Bearing Heavy Mineral Sands Project

Australia

Discovery Drill Stage100% ownedOthers

100%-owned early-stage heavy-mineral discovery with thick, high-grade intervals from surface; mineral assemblage work is pending and no resource or economics are published.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Tenements1
el6166Granted122 km2 · No expiry supplied
Milestones1
  1. Complete heavy-mineral assemblage analysis for recent drilling

    Pending · High materiality

Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
Muckanippie EL 6166 exploration titleSouth AustraliaGranted—No

Other

West Melton Copper Tenement

Australia

Early Explorer100% ownedCopper

EL 6701 remains subject to a conditional sale to G4 Metals for scrip upon a successful IPO and ministerial approval; no copper resource is credited in the valuation.

Tenements1
el6701Granted— None · No expiry supplied
Milestones1
  1. G4 IPO and West Melton sale condition deadline

    Pending · Low materiality

Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
Ministerial approval for EL 6701 transferSouth AustraliaPending—Yes