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2026-11-06
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Maronan Metals Limited

Scoping Study Developer · Silver · Lead · Copper · Gold · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.365
1D
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1M
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YTD
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1Y
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Upside
Locked: sign in to view
Mkt cap
A$114.7M
EV
A$81.5M
Cash
A$33.4M
Debt
A$160.6K
7 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

1 assets

Core asset

Maronan Project

Australia

Scoping Study Developer100% ownedSilverLeadCopperGoldZinc

Wholly owned Maronan project. EPM 13368 expired on 25 June 2026 with renewal pending at the September annual report; MDL 2028 remains granted to February 2031 for a boxcut and exploration decline. Commercial Mining Lease, feasibility, landholder compensation and development financing remain outstanding.

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
NPVA$377M8% discount
IRR37%Published return
Initial capexA$266MPublished capital estimate
Operating cost138AUD/t
NPVA$362M8% discount
IRR67%Published return
Initial capexA$98MPublished capital estimate
Operating cost167AUD/t

Pre-tax, unlevered onsite standalone plant base case at US$36/oz silver; A$683m LOM FCF and four-year payback.

Pre-tax, unlevered toll-treatment option at study base prices; lower upfront capex but higher unit cost.

Resources & reserves3
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceInferred plus Indicated33.1 Mt6.0% Pb and 108 g/t Ag at >3% Pb cut-offSilver · Lead · Zinc2025-06-06
Mineral ResourceInferred plus Indicated32 Mt0.85% Cu, 0.63 g/t Au and 7 g/t Ag at >0.4% Cu cut-offCopper · Gold · Silver2025-06-06
Mineral ResourceInferred1.8 Mt1.24 g/t Au at >1 g/t Au cut-offGold2024-03-12
Tenements2
epm-13368Renewal Pending— None · 2026-06-25
mdl-2028Granted— None · 2031-02-28
Milestones3
  1. Mineral Development Licence 2028 granted

    Achieved · High materiality

  2. Updated Mineral Resource Estimate and PFS targeted for H2 FY27

    Pending · High materiality

  3. Updated resource estimate targeted Q4 FY2027

    Pending · High materiality

Permits & approvals3
PermitJurisdictionStatusExpiryCritical path
MDL 2028 exploration decline authorizationQueensland, AustraliaGranted—No
Mining Lease for commercial developmentQueensland, AustraliaRequired—Yes
EPM 13368 renewalQueensland, AustraliaPending—Yes
Economic studies1
StudyStageStatusDateSummary
Maronan Starter Zone Preliminary Economic AssessmentScoping StudyCurrent2025-09-23Pre-tax scoping study for a 1.2 Mtpa, 10-year Starter Zone mine using 70% Indicated and 30% Inferred material; not an Ore Reserve or feasibility study.