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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

Narrative and provenance

Research & Sources

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Chronological evidenceSource-document inventory16 documents
MEU ordinary-share ASX closing-price historyMarket Data · HighExtracted

Latest eligible local ASX close from market data provider via miners.collect_stock_prices: A$0.067 on 25 September 2026, volume 1,865,052.

Document ID
meu-market-2026-09-25
Published UTC
2026-09-25T06:00:00Z
Projects
—
Commodities
—
Open original source ↗
2026 Annual Financial ReportResults · HighExtracted

Audited FY2026 consolidated statements, capital register, executive roster, subsidiaries and JV interests, cash, secured term deposit and lease liabilities.

Document ID
meu-2026-financial-report
Published UTC
2026-09-24T03:07:00Z
Projects
gawler-gold · junction-dam-uranium · muckanippie-titanium
Commodities
gold · uranium · others
Open original source ↗
Greenewood gold discovery: drilling and assay updateOperations · HighExtracted

Drilling extended to early October after favourable geology; 313 holes drilled and first new assays expected as early as the following week, with no new assay grades in this release.

Document ID
meu-2026-09-drilling
Published UTC
2026-09-22T22:13:00Z
Projects
gawler-gold
Commodities
gold
Open original source ↗
Greenewood gold discovery: program expanded to 31,000mOperations · HighExtracted

Stage 3 completed 26,000 metres and expanded to 31,000 metres; 284 holes had been drilled and samples entered the assay laboratory.

Document ID
meu-2026-09-expansion
Published UTC
2026-09-02T22:59:00Z
Projects
gawler-gold
Commodities
gold
Open original source ↗
Greenewood gold discovery: program expanded to 26,000mOperations · HighExtracted

Stage 3 program expanded to 26,000 metres and 289 planned holes; 223 holes had been drilled.

Document ID
meu-2026-08-drilling
Published UTC
2026-08-03T22:20:00Z
Projects
gawler-gold
Commodities
gold
Open original source ↗
Quarterly Activities and Cashflow ReportOperations · HighExtracted

June-quarter update showing 20,000 metres of Stage 3 Greenewood drilling, continued scoping-study work, fully designed uranium drilling and A$14.7 million cash.

Document ID
meu-2026q2-quarterly
Published UTC
2026-07-29T22:22:39Z
Projects
gawler-gold · junction-dam-uranium · muckanippie-titanium
Commodities
gold · uranium · others
Open original source ↗
Application for quotation of securities - MEUCorporate Action · HighExtracted

Appendix 2A confirming exercise of all May 2026 options and the post-quotation ordinary-share and remaining-option counts.

Document ID
meu-2026-05-quotation
Published UTC
2026-05-13T07:18:01Z
Projects
—
Commodities
—
Open original source ↗
Quarterly Activities and Cashflow ReportFinancing · HighExtracted

March-quarter report confirming the completed A$15 million placement, strong cash position and active exploration programs.

Document ID
meu-2026q1-quarterly
Published UTC
2026-04-29T22:10:35Z
Projects
gawler-gold · junction-dam-uranium · muckanippie-titanium
Commodities
gold · uranium · others
Open original source ↗
Half Year Financial Report Dec 2025Results · HighExtracted

Reviewed half-year accounts and subsequent-event disclosure of the February 2026 placement.

Document ID
meu-2025h1-financial-report
Published UTC
2026-03-10T21:26:14Z
Projects
gawler-gold
Commodities
gold
Open original source ↗
Resources Rising Stars PresentationPresentation · MediumExtracted

Investor presentation describing the three-project portfolio, Gawler Gold development concept and Junction Dam drill inventory.

Document ID
meu-2026-02-investor-presentation
Published UTC
2026-02-09T21:20:27Z
Projects
gawler-gold · muckanippie-titanium · junction-dam-uranium
Commodities
gold · others · uranium
Open original source ↗
Quarterly Activities and Cashflow ReportOperations · HighExtracted

December-quarter exploration and mine-plan update, including cash runway and commodity-price context.

Document ID
meu-2025q4-quarterly
Published UTC
2026-01-28T21:16:35Z
Projects
gawler-gold · muckanippie-titanium
Commodities
gold · others
Open original source ↗
AGM - Gawler Gold Scoping Study PresentationStudy · HighExtracted

Scoping-study scope and schedule for a conceptual regional heap-leach operation; no NPV, capex or completed resource was disclosed.

Document ID
meu-2025-11-scoping-update
Published UTC
2025-11-18T05:53:16Z
Projects
gawler-gold
Commodities
gold
Open original source ↗
Annual Report 2025Results · HighExtracted

Audited FY2025 report with issuer strategy, tenements, historical capital structure and the Junction Dam uranium resource disclosure.

Document ID
meu-2025-annual-report
Published UTC
2025-10-31T00:46:08Z
Projects
gawler-gold · muckanippie-titanium · junction-dam-uranium
Commodities
gold · others · uranium
Open original source ↗
Quarterly Activities and Cashflow ReportOperations · MediumExtracted

September-quarter exploration update covering Gawler Gold, Muckanippie titanium work and the quarter-end funding position.

Document ID
meu-2025q3-quarterly
Published UTC
2025-10-26T21:28:18Z
Projects
gawler-gold · muckanippie-titanium
Commodities
gold · others
Open original source ↗
Sale of West Melton copper tenement to G4 MetalsTransaction · MediumExtracted

Conditional sale of EL 6701 for G4 shares upon IPO and two copper-resource scrip milestones, subject to ministerial approval.

Document ID
meu-2025-west-melton-sale
Published UTC
2025-05-06T22:20:00Z
Projects
west-melton-copper
Commodities
copper
Open original source ↗
New Golden Moon JV to grow Gawler gold resourcesEconomic Arrangement · HighExtracted

Half Moon holds 90% of Golden Moon title and minerals, carries Coombedown until a mining decision, and manages the JV; legacy 2018 JORC resource table is included.

Document ID
meu-2024-golden-moon-jv
Published UTC
2024-04-08T22:53:00Z
Projects
gawler-gold
Commodities
gold
Open original source ↗
Evidence facts67
f-2025q3-cashCash and cash equivalents

3702000 AUD

2025-09-30
f-2025q3-runwayEstimated quarters of funding available

3.26 quarters

2025-09-30
f-2025q3-gold-resource-nextMaiden gold resource identified as next work item

True None

2025-10-27
f-paul-richardson-managerPaul Richardson named Gawler Gold project manager

Paul Richardson None

2025-10-27
f-fy25-sharesOrdinary shares on issue

1178305790 shares

2025-06-30
f-fy25-cashCash and cash equivalents

4666493 AUD

2025-06-30
f-junction-resourceSaffron inferred uranium resource contained U3O8

5.4 Mlb U3O8

2013-07-17
f-junction-resource-gradeSaffron inferred uranium resource average grade

557 ppm U3O8

2013-07-17
f-junction-targetJunction Dam conceptual exploration target

22-33 Mlb at approximately 400-700 ppm U3O8 None

2012-07-09
f-scoping-throughputConceptual regional heap-leach facility throughput

1.0 Mtpa

2025-11-18
f-scoping-lifeConceptual minimum operating life

7 years

2025-11-18
f-scoping-accuracyScoping cost-estimate accuracy

30 plus_or_minus_pct

2025-11-18
f-2025q4-cashCash and cash equivalents

3035000 AUD

2025-12-31
f-2025q4-gold-priceIssuer-cited Australian-dollar gold price

7500 AUD/oz

2026-01-29
f-2025q4-uranium-priceIssuer-cited uranium price

85 USD/lb

2026-01-29
f-feb26-sharesOrdinary shares on issue

1180305790 shares

2025-12-31
f-feb26-optionsUnlisted options on issue

7000000 options

2025-12-31
f-feb26-junction-holesPlanned Junction Dam drill holes across Saffron and Bridget

278 holes

2026-02-10
f-dec25-sharesOrdinary shares on issue

1180305790 shares

2025-12-31
f-feb26-raiseGross placement proceeds

15000000 AUD

2026-02-12
f-feb26-raise-pricePlacement issue price

0.135 AUD/share

2026-02-12
f-2026q1-cashCash and cash equivalents

15898000 AUD

2026-03-31
f-2026q1-runwayEstimated quarters of funding available

14.1 quarters

2026-03-31
f-apr26-gold-priceIssuer-cited Australian-dollar gold price

6300 AUD/oz

2026-04-30
f-apr26-uranium-priceIssuer-cited uranium price

85 USD/lb

2026-04-30
f-may26-option-exerciseOptions exercised into ordinary shares

4000000 shares

2026-05-13
f-may26-sharesOrdinary shares following quotation

1295416901 shares

2026-05-13
f-may26-optionsRemaining unlisted options at A$0.055 expiring 24 November 2026

3000000 options

2026-05-13
f-jun26-cashCash and cash equivalents

14704000 AUD

2026-06-30
f-jun26-runwayEstimated quarters of funding available

12.1 quarters

2026-06-30
f-greenewood-stage3-metresGreenewood Stage 3 RC drilling completed to date

20000 metres

2026-07-20
f-greenewood-stage3-holesGreenewood Stage 3 RC holes completed to date

188 holes

2026-07-20
f-greenewood-ownershipMarmota ownership of Greenewood and Mainwood through Golden Moon JV

90 pct

2026-07-30
f-gawler-scoping-activeGawler Gold scoping study remains active and is incorporating new drilling

True None

2026-07-30
f-uranium-program-fundedJunction Dam uranium drill program fully designed and fully funded

True None

2026-07-30
f-gmjv-ownershipHalf Moon Golden Moon title and minerals interest

90 percent

2024-04-09
f-gmjv-freecarryCoombedown free-carried until decision to mine

True None

2024-04-09
f-gmjv-legacy-gold-resourceGolden Moon four-deposit 2018 reported JORC resource

286 koz gold

2018-05-30
f-gmjv-indicatedGolden Moon 2018 indicated resource contained gold

25 koz gold

2018-05-30
f-gmjv-inferredGolden Moon 2018 inferred resource contained gold

260 koz gold

2018-05-30
f-g4-upfrontG4 shares due on successful IPO

1000000 AUD shares

2025-05-07
f-g4-resource-milestonesTwo contingent resource milestone payments

500000 AUD shares

2025-05-07
f-g4-withdrawalMarmota may withdraw if no successful IPO by 31 December 2026

2026-12-31 None

2025-05-07
f-aug-planned-metresExpanded Stage 3 planned metres

26000 RC metres

2026-08-04
f-aug-holes-drilledStage 3 holes drilled

223 RC holes

2026-08-04
f-sep-completed-metresStage 3 RC metres completed

26000 RC metres

2026-09-03
f-sep-planned-metresExpanded Stage 3 planned metres

31000 RC metres

2026-09-03
f-sep-holes-drilledStage 3 holes drilled

284 RC holes

2026-09-03
f-latest-holesStage 3 Greenewood and Mainwood holes completed

313 RC holes

2026-09-23
f-latest-assaysFirst Stage 3 assays expected as early as following week

week of 28 September 2026 None

2026-09-23
f-latest-completionDrilling completion expected early October

early October 2026 None

2026-09-23
f-fy26-cashCash and cash equivalents

14358111 AUD

2026-06-30
f-fy26-restrictedTerm deposit pledged against bank guarantees

346500 AUD

2026-06-30
f-fy26-leasesCurrent and non-current lease liabilities

180436 AUD

2026-06-30
f-fy26-sharesOrdinary fully paid shares on issue

1295416901 shares

2026-06-30
f-fy26-optionsOutstanding unlisted options at A$0.055

3000000 options

2026-06-30
f-fy26-exploration-spendFY2026 exploration and evaluation cash payments

3927935 AUD

2026-06-30
f-fy26-lossFY2026 loss after tax

321473 AUD loss

2026-06-30
f-fy26-interest-incomeFY2026 interest income

291862 AUD

2026-06-30
f-fy26-gmjvGolden Moon joint venture interest and counterparty free carry

90 percent

2026-06-30
f-fy26-wgcjvWestern Gawler Craton JV gold rights

100 percent

2026-06-30
f-fy26-drill-metresGreenewood and Mainwood drilling to annual report

50000 RC metres, more than

2026-09-24
f-fy26-rosterNamed executive directors and key management

Colin Rose; Aaron Brown; Lisa Askham-Levy None

2026-09-24
f-market-price-2026-09-25MEU ASX ordinary-share close

0.067 AUD/share

2026-09-25
f-market-volume-2026-09-25MEU daily traded volume

1865052 shares

2026-09-25
f-market-close-2026-09-22MEU ASX ordinary-share close before September drilling update

0.064 AUD/share

2026-09-22
f-market-close-2026-09-23MEU ASX ordinary-share close after September drilling update

0.072 AUD/share

2026-09-23
Conflicts requiring judgment1
  • 30 June 2026 unrestricted cash versus quarterly available funding

    The audited A$14,358,111 cash at bank plus A$346,500 pledged short-term deposit totals A$14,704,611, reconciling to the quarterly A$14.704 million available-funding figure to rounding. Only unrestricted cash enters the equity bridge.