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- Last 2026-11-06
- A$0.365
- 1D
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- 1M
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- YTD
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- 1Y
- —
- Fair value
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- Upside
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- 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
- Maronan Metals 2026 AGM PresentationLatest Operating Presentation
- Quarterly Activities/Appendix 5B Cash Flow ReportLatest Four Activities Reports
- Australian Gold Conference 2026 PresentationLatest Operating Presentation
- Proposed issue of securities - MMAPost Cash Checkpoint Security Event
- Strategic $20M Placement with Strong Institutional SupportPost Cash Checkpoint Capital Raise
- Sydney Mining Club PresentationLatest Operating Presentation
- Notification of cessation of securities - MMAPost Cash Checkpoint Security Event
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Sign in or enter a guest codeAnnouncements
Latest 12 of 14All sources ▸- Noosa Mining Conference Presentation 2026Presentation
- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- Application for quotation of securities - MMAFinancing
- Quarterly Activities/Appendix 5B Cash Flow ReportPermitting
- Half Yearly Report and AccountsResults
- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- Notification regarding unquoted securities - MMACorporate Action
- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- Preliminary Economic Assessment Investor WebinarPresentation
- Preliminary Economic Assessment Company PresentationPresentation
- Maronan Starter Zone Preliminary Economic AssessmentStudy
- Annual Report to shareholdersResults
Event calendar · next 12 months
4 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| through end-2026 | Further infill assay releases | Exploration | Company Guided | Medium | Can change delivery probability, capital requirements or the technical quality of the next study. |
| 23 November 2026 | Andrew Graham commences as Managing Director and CEO | Governance | Company Guided | Medium | Can change delivery probability, capital requirements or the technical quality of the next study. |
| H2 FY2027 | Maronan Pre-Feasibility Study | Study | Company Guided | High | Can change delivery probability, capital requirements or the technical quality of the next study. |
| Q4 FY2027 | Updated Mineral Resource Estimate | Resource Or Reserve | Company Guided | High | Can change delivery probability, capital requirements or the technical quality of the next study. |
Executive roster
As of 2026-09-26Background checks ▸FY2026 annual report roster reconciled with the September future CEO appointment and July presentation. Graham has not yet commenced.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Richard Carlton | Managing Director | Executive Director · Chief Executive | 2021-03-23 | Annual Financial Report 2026 · Appointment of Managing Director and CEO |
| Lindi Lochner | Chief Financial Officer | Finance · Senior Management | 2026-02-23 | Annual Financial Report 2026 |
| Ian Gebbie | Company Secretary | Company Secretary | 2023-10-16 | Annual Financial Report 2026 |
| Dean Fredericksen | Project Director | Technical · Senior Management | — | Annual Financial Report 2026 · Noosa Mining Conference Presentation 2026 |
| Andrew Barker | Exploration Manager | Technical · Senior Management | — | Annual Financial Report 2026 · Noosa Mining Conference Presentation 2026 |
devCoverage status: Complete As Disclosed
Portfolio detail
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
Loading imagery…
© 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
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Inferred plus Indicated | 33.1 Mt | 6.0% Pb and 108 g/t Ag at >3% Pb cut-off | Silver · Lead · Zinc | 2025-06-06 |
| Mineral Resource | Inferred plus Indicated | 32 Mt | 0.85% Cu, 0.63 g/t Au and 7 g/t Ag at >0.4% Cu cut-off | Copper · Gold · Silver | 2025-06-06 |
| Mineral Resource | Inferred | 1.8 Mt | 1.24 g/t Au at >1 g/t Au cut-off | Gold | 2024-03-12 |
Tenements2
Milestones3
- Mineral Development Licence 2028 granted
Achieved · High materiality
- Updated Mineral Resource Estimate and PFS targeted for H2 FY27
Pending · High materiality
- Updated resource estimate targeted Q4 FY2027
Pending · High materiality
Permits & approvals3
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| MDL 2028 exploration decline authorization | Queensland, Australia | Granted | — | No |
| Mining Lease for commercial development | Queensland, Australia | Required | — | Yes |
| EPM 13368 renewal | Queensland, Australia | Pending | — | Yes |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Maronan Starter Zone Preliminary Economic Assessment | Scoping Study | Current | 2025-09-23 | Pre-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. |
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Study and drilling funding is in hand, but the A$266m PEA standalone capex is far beyond current liquidity. Commercial construction needs external funding and may dilute shareholders. Lease liability of A$0.161m and trade payables of A$1.863m are also disclosed.
Capital structure
Ownership and dilution
- Ordinary shares
- 314.3M
- Fully diluted
- 341M
201,252,826 shares at June 2025 plus 45,714,286 placement shares, 4,479,948 SPP shares and 62,822,481 Kinterra placement shares gives 314,269,541 issued shares. Issued options of 24,150,000 and performance rights of 2,550,000 bring fully diluted ordinary equivalents to 340,969,541. CEO sign-on securities are conditional future issues.
Security classes7
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| ASX-listed ordinary fully paid shares | Ordinary Share | 314.3M | — | — |
| Employee options exercisable at A$0.28 | Option | 500K | A$0.28 | 2026-12-21 |
| Employee options exercisable at A$0.30 | Option | 6.2M | A$0.3 | 2027-08-12 |
| Director options exercisable at A$0.275 | Option | 10M | A$0.275 | 2027-11-15 |
| Employee options exercisable at A$0.385 | Option | 1.4M | A$0.385 | 2028-11-14 |
| Director options exercisable at A$0.35 | Option | 6M | A$0.35 | 2028-11-28 |
| Unquoted performance rights convertible one-for-one on vesting | Performance Right | 2.6M | A$0 | — |
KPI history
Operating metrics
Operating metric source table3
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Other | Maronan | June 2026 quarter | Quarter | 2,661,000 AUD exploration and evaluation spend | Reported |
| Other | Maronan | June 2026 quarter | Quarter | 406,000 AUD development spend | Reported |
| Other | Maronan | 17 September 2026 update | Point In Time | 15,000 m+ drilled in 40,000m program | Reported |
Company guidance2
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Updated Mineral Resource Estimate And Pre Feasibility Study Completion | maronan | H2 FY27 | — | — milestone | Current |
| Updated Mineral Resource Estimate | maronan | Q4 FY2027 | — | — milestone | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-05-27Ann. 2026-05-20 | Raising | A$22M | 62.8M | — | Completed | — |
| 2025-11-04Ann. 2025-10-28 | Raising | A$17.6M | 50.2M | — | Completed | — |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
FY2026 annual report and original subscription agreement reviewed. No signed offtake, toll, stream or hedge was disclosed; PEA toll treatment is an alternative, not an agreement.
Kinterra has board and technical group nomination rights plus time-limited participation and consent rights, but no production, royalty or offtake interest. Issued equity and cash are already in capitalization and liquidity.
Strategic Partnership · Active- Counterparties
- Kinterra Critical Materials & Infrastructure Opportunities Fund II LP · Kinterra Capital Corp
- Applies to
- Maronan Project
- Economic direction
- Mixed
- Period
- 2026-05-27 to 2028-05-27
- Key terms
- Placement gross proceeds: 22,038,126 AUD
Shares issued: 62,822,481 shares
Equity participation: 24 months
Standstill and reserved matters: 6 months
How it affects our valuation
No valuation treatment is available for this arrangement.
Native Title agreements finalised ahead of MDL grant; economic consideration and obligations are not disclosed, so cannot be separately quantified.
Other · Active- Counterparties
- Mitakoodi and Mayi People
- Applies to
- Maronan Project
- Economic direction
- Burden
- Period
- Dates not stated
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The reviewed evidence documents selected career records and company outcomes, with material adverse and delivery evidence retained at company level. Personal attribution is limited; several individual histories and qualifications remain incomplete. Open-web results do not constitute exhaustive personal clearance.
Decision-relevant facts
Material summary
Richard Carlton
Managing Director
LegalDocumented · Medium materiality
Two Takeovers Panel applications concerning placements did not produce an adverse finding against Maronan
In 2024 a shareholder alleged market manipulation/insider trading around a placement. The Takeovers Panel declined to conduct proceedings, finding insufficient material and no reasonable prospect of unacceptable circumstances; ASIC reported that its review of trading data found no indicators supporting the alleged misconduct. In 2025 another applicant alleged undisclosed associations and share-price conduct around a placement; the application was withdrawn on 10 November 2025 before a merits decision. These were allegations, not findings against the company or its executives.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Maronan Metals Limited [2024] ATP 10: Reasons for Decision · Takeovers Panel [2024] ATP 10, paragraphs 1, 18–22 and 48; TP25/092 and TP25/094.
Company SuccessIssuer Reported · Medium materiality
Strategic funding and 2026 drilling advanced the Maronan project
The June 2026 quarterly report records a A$22m strategic investment by Kinterra, pro forma cash of approximately A$36.6m, two diamond rigs and infill/resource-definition drilling, high-grade assay results, and continued Pre-Feasibility Study work. The company also reported boxcut design optimization intended to lower initial excavation volume/capital. These are financing, exploration and study milestones; the asset remained pre-development, with no mine or operating result delivered.
Role overlaps event; causation unproven · The report attributes exploration results to the team and identifies Andrew Barker as the competent person; it does not establish that each executive caused the financing, assay results or design work.
June 2026 Quarterly Activities Report · June 2026 Quarterly Activities Report, highlights and MD commentary; exploration and funding status
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Lindi Lochner
Chief Financial Officer
LegalDocumented · Medium materiality
Two Takeovers Panel applications concerning placements did not produce an adverse finding against Maronan
In 2024 a shareholder alleged market manipulation/insider trading around a placement. The Takeovers Panel declined to conduct proceedings, finding insufficient material and no reasonable prospect of unacceptable circumstances; ASIC reported that its review of trading data found no indicators supporting the alleged misconduct. In 2025 another applicant alleged undisclosed associations and share-price conduct around a placement; the application was withdrawn on 10 November 2025 before a merits decision. These were allegations, not findings against the company or its executives.
Employer context; no individual link established · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Maronan Metals Limited [2024] ATP 10: Reasons for Decision · Takeovers Panel [2024] ATP 10, paragraphs 1, 18–22 and 48; TP25/092 and TP25/094.
Company SuccessIssuer Reported · Medium materiality
Strategic funding and 2026 drilling advanced the Maronan project
The June 2026 quarterly report records a A$22m strategic investment by Kinterra, pro forma cash of approximately A$36.6m, two diamond rigs and infill/resource-definition drilling, high-grade assay results, and continued Pre-Feasibility Study work. The company also reported boxcut design optimization intended to lower initial excavation volume/capital. These are financing, exploration and study milestones; the asset remained pre-development, with no mine or operating result delivered.
Role overlaps event; causation unproven · The report attributes exploration results to the team and identifies Andrew Barker as the competent person; it does not establish that each executive caused the financing, assay results or design work.
June 2026 Quarterly Activities Report · June 2026 Quarterly Activities Report, highlights and MD commentary; exploration and funding status
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Ian Gebbie
Company Secretary
LegalDocumented · Medium materiality
Two Takeovers Panel applications concerning placements did not produce an adverse finding against Maronan
In 2024 a shareholder alleged market manipulation/insider trading around a placement. The Takeovers Panel declined to conduct proceedings, finding insufficient material and no reasonable prospect of unacceptable circumstances; ASIC reported that its review of trading data found no indicators supporting the alleged misconduct. In 2025 another applicant alleged undisclosed associations and share-price conduct around a placement; the application was withdrawn on 10 November 2025 before a merits decision. These were allegations, not findings against the company or its executives.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Maronan Metals Limited [2024] ATP 10: Reasons for Decision · Takeovers Panel [2024] ATP 10, paragraphs 1, 18–22 and 48; TP25/092 and TP25/094.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Dean Fredericksen
Project Director
LegalDocumented · Medium materiality
Two Takeovers Panel applications concerning placements did not produce an adverse finding against Maronan
In 2024 a shareholder alleged market manipulation/insider trading around a placement. The Takeovers Panel declined to conduct proceedings, finding insufficient material and no reasonable prospect of unacceptable circumstances; ASIC reported that its review of trading data found no indicators supporting the alleged misconduct. In 2025 another applicant alleged undisclosed associations and share-price conduct around a placement; the application was withdrawn on 10 November 2025 before a merits decision. These were allegations, not findings against the company or its executives.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Maronan Metals Limited [2024] ATP 10: Reasons for Decision · Takeovers Panel [2024] ATP 10, paragraphs 1, 18–22 and 48; TP25/092 and TP25/094.
Company SuccessIssuer Reported · Medium materiality
Strategic funding and 2026 drilling advanced the Maronan project
The June 2026 quarterly report records a A$22m strategic investment by Kinterra, pro forma cash of approximately A$36.6m, two diamond rigs and infill/resource-definition drilling, high-grade assay results, and continued Pre-Feasibility Study work. The company also reported boxcut design optimization intended to lower initial excavation volume/capital. These are financing, exploration and study milestones; the asset remained pre-development, with no mine or operating result delivered.
Role overlaps event; causation unproven · The report attributes exploration results to the team and identifies Andrew Barker as the competent person; it does not establish that each executive caused the financing, assay results or design work.
June 2026 Quarterly Activities Report · June 2026 Quarterly Activities Report, highlights and MD commentary; exploration and funding status
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Andrew Barker
Exploration Manager
LegalDocumented · Medium materiality
Two Takeovers Panel applications concerning placements did not produce an adverse finding against Maronan
In 2024 a shareholder alleged market manipulation/insider trading around a placement. The Takeovers Panel declined to conduct proceedings, finding insufficient material and no reasonable prospect of unacceptable circumstances; ASIC reported that its review of trading data found no indicators supporting the alleged misconduct. In 2025 another applicant alleged undisclosed associations and share-price conduct around a placement; the application was withdrawn on 10 November 2025 before a merits decision. These were allegations, not findings against the company or its executives.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Maronan Metals Limited [2024] ATP 10: Reasons for Decision · Takeovers Panel [2024] ATP 10, paragraphs 1, 18–22 and 48; TP25/092 and TP25/094.
Company SuccessIssuer Reported · Medium materiality
Strategic funding and 2026 drilling advanced the Maronan project
The June 2026 quarterly report records a A$22m strategic investment by Kinterra, pro forma cash of approximately A$36.6m, two diamond rigs and infill/resource-definition drilling, high-grade assay results, and continued Pre-Feasibility Study work. The company also reported boxcut design optimization intended to lower initial excavation volume/capital. These are financing, exploration and study milestones; the asset remained pre-development, with no mine or operating result delivered.
Role overlaps event; causation unproven · The report attributes exploration results to the team and identifies Andrew Barker as the competent person; it does not establish that each executive caused the financing, assay results or design work.
June 2026 Quarterly Activities Report · June 2026 Quarterly Activities Report, highlights and MD commentary; exploration and funding status
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-08-21
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 19.99% | 62,822,481 | |
| 2 | 4.91% | 15,445,139 | |
| 3 | 4.40% | 13,814,847 | |
| 4 | 4.18% | 13,136,629 | |
| 5 | 4.14% | 13,010,480 | |
| 6 | 2.51% | 7,896,972 | |
| 7 | 1.99% | 6,253,624 | |
| 8 | 1.26% | 3,952,380 | |
| 9 | 1.03% | 3,237,903 | |
| 10 | 0.95% | 2,980,472 | |
| 11 | 0.88% | 2,757,667 | |
| 12 | 0.87% | 2,742,857 | |
| 13 | 0.87% | 2,742,473 | |
| 14 | 0.86% | 2,710,714 | |
| 15 | 0.72% | 2,250,000 | |
| 16 | 0.68% | 2,147,289 | |
| 17 | 0.51% | 1,614,285 | |
| 18 | 0.47% | 1,472,900 | |
| 19 | 0.42% | 1,334,285 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The register is a dated list of registered accounts, not a complete beneficial-ownership register. Nominee and custody accounts may represent multiple underlying investors.
- Substantial-holder notices after the cited annual-report snapshot were not individually reconciled for this candidate; holdings may have changed by the review cutoff.
Sources
- Annual Report to shareholders
ASX / Maronan Metals Limited · Published 2026-09-03 · Accessed 2026-10-09
Dated registered ordinary-shareholder top-20 table and quantities/percentages.
2026/2026-09-03_Annual Report to shareholders_8456fb06d556adb1.pdf, PDF page 56; shareholder register section
Disclosed activity
Insider transactions
Trading activity1 buy · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2024-06-14 | Richard CarltonBond Street Custodians Ltd
Details & evidence for Richard Carlton on 2024-06-14Indirect interest through Kalby Pty Ltd / Kalby Superannuation Fund, held in Bond Street Custodians Ltd custody; Carlton is a Kalby director and fund member. As disclosed: Acquisition of 125,000 ordinary shares for $30,000.
Kalby Pty Ltd · director and member of Kalby Superannuation Fund; indirect interest through the fund Change of Director's Interest Notice - Richard Carlton ↗ | Purchaseordinary shares | 125,000 | AUD 30,000.00 | AUD 0.24Calculated average | 225,000 |
The closest covered peers
Peer comparison
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Narrative and provenance
Research & Sources
AI Analyst Report
The full analyst report, its figures and the broker-style PDF are available to subscribers and invited guests.
Sign in or enter a guest codeChronological evidenceSource-document inventory20 documents
ASX MMA ordinary-share closing quoteMarket Data · HighExtracted
Latest eligible local close from data/asx_mining_companies.db via miners.reference_price; market data provider provider, 328,530 shares volume, AUD ordinary-share basis.
- Document ID
- market-price-20260925
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- —
Strong silver-lead infill drilling updateOperations · HighExtracted
Issuer post summarising its 17 September ASX drilling release: more than 15,000m of a 40,000m program drilled; 11.0m at 10.3% Pb and 116g/t Ag; resource update planned Q4 FY2027.
- Document ID
- infill-update-20260917
- Published UTC
- 2026-09-16T23:36:00Z
- Projects
- maronan
- Commodities
- silver · lead
Appointment of Managing Director and CEOLeadership · HighExtracted
Andrew Graham appointed Managing Director and CEO commencing 23 November 2026; Carlton to become non-executive after handover. Future sign-on securities are conditional on commencement and not currently issued.
- Document ID
- ceo-appointment-20260907
- Published UTC
- 2026-09-06T22:20:00Z
- Projects
- maronan
- Commodities
- —
Annual Financial Report 2026Results · HighExtracted
FY2026 annual report: A$18.305m bank cash plus A$15.100m term deposits, A$9.252m loss; EPM 13368 expired on 25 June with renewal pending, while MDL 2028 current to February 2031. Confirms roster and Native Title agreements.
- Document ID
- annual-report-20260903
- Published UTC
- 2026-09-03T06:28:00Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Bell Potter Maronan initiationOther · MediumExtracted
Independent Bell Potter July 2026 initiation models a risked A$195m Starter Zone project value and assumes a A$50m near-term raise at 10% discount. Its resource timetable predates the September issuer update; Bell Potter disclosed placement joint-lead-manager fees.
- Document ID
- bell-potter-20260727
- Published UTC
- 2026-07-27T00:00:00Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Noosa Mining Conference Presentation 2026Presentation · HighExtracted
Current investor presentation restating the PEA, resource, capital structure, cash, permitting and H2 FY27 PFS catalyst.
- Document ID
- noosa-presentation-20260722
- Published UTC
- 2026-07-21T23:50:32Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted
June 2026 quarterly report covering infill drilling, the Kinterra strategic placement, PFS work, tenements and post-financing liquidity.
- Document ID
- quarterly-20260720
- Published UTC
- 2026-07-19T23:59:53Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Application for quotation of securities - MMAFinancing · HighExtracted
Appendix 2A confirming quotation of the Kinterra placement shares and the resulting issued and unquoted capital.
- Document ID
- placement-quotation-20260527
- Published UTC
- 2026-05-26T23:30:33Z
- Projects
- —
- Commodities
- —
$22 Million Strategic Investment by Kinterra CapitalEconomic Arrangement · HighExtracted
Binding subscription agreement: 62,822,481 shares at A$0.3508, 19.99% stake, board/technical group nomination, 24-month participation right, six-month standstill and consent rights over specified actions; no project royalty or offtake granted.
- Document ID
- kinterra-agreement-20260520
- Published UTC
- 2026-05-19T23:13:00Z
- Projects
- maronan
- Commodities
- —
Quarterly Activities/Appendix 5B Cash Flow ReportPermitting · HighExtracted
March 2026 quarterly report confirming grant of MDL 2028, improved copper-gold recoveries, project work and liquidity.
- Document ID
- quarterly-20260430
- Published UTC
- 2026-04-29T22:56:40Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Half Yearly Report and AccountsResults · HighExtracted
Half-year financial report for the six months to 31 December 2025, including cash, issued capital, options and performance rights.
- Document ID
- half-year-20260218
- Published UTC
- 2026-02-18T09:11:12Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted
December 2025 quarterly report covering drilling, environmental approvals, metallurgy, the A$17.6m capital raising and liquidity.
- Document ID
- quarterly-20260129
- Published UTC
- 2026-01-28T21:28:35Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Notification regarding unquoted securities - MMACorporate Action · MediumExtracted
Appendix 3G notification recording director options and performance rights and the post-issue capital structure.
- Document ID
- securities-20251201
- Published UTC
- 2025-12-01T06:29:20Z
- Projects
- —
- Commodities
- —
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighExtracted
September 2025 quarterly activities and cash-flow report covering the PEA, placement funding and project workstreams.
- Document ID
- quarterly-20251028
- Published UTC
- 2025-10-27T21:32:49Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Preliminary Economic Assessment Investor WebinarPresentation · LowExtracted
One-page notice providing access details for the investor webinar on the previously released Starter Zone PEA.
- Document ID
- pea-webinar-20250925
- Published UTC
- 2025-09-24T22:32:41Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Preliminary Economic Assessment Company PresentationPresentation · MediumExtracted
Company presentation restating the Starter Zone PEA, resource scale, development alternatives and funding requirement.
- Document ID
- pea-presentation-20250924
- Published UTC
- 2025-09-23T22:31:42Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Maronan Starter Zone Preliminary Economic AssessmentStudy · HighExtracted
Starter Zone scoping study comparing a 1.2 Mtpa standalone plant with toll treatment over a 10-year mine life; outcomes are pre-tax and include Inferred material.
- Document ID
- pea-20250923
- Published UTC
- 2025-09-22T23:24:13Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold
Annual Report to shareholdersResults · HighExtracted
FY2025 annual report covering the wholly owned Maronan Project, resource work, permitting, tenure, financing risk and audited accounts.
- Document ID
- annual-report-20250908
- Published UTC
- 2025-09-07T22:15:55Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold · zinc
Updated Mineral Resource Estimate - AmendedResource Update · HighExtracted
Amended JORC resource update for the Starter Zone and global Maronan silver-lead, copper-gold and gold-only resources.
- Document ID
- mre-amended-20250606
- Published UTC
- 2025-06-06T05:50:22Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold · zinc
Updated Mineral Resource Estimate Grows Resource ConfidenceResource Update · HighExtracted
Original 2025 Mineral Resource update, subsequently corrected and superseded by the 6 June amended release.
- Document ID
- mre-original-20250603
- Published UTC
- 2025-06-02T22:27:55Z
- Projects
- maronan
- Commodities
- silver · lead · copper · gold · zinc
Evidence facts81
33.1 Mt
2025-06-066.0 % Pb
2025-06-06108 g/t Ag
2025-06-0632.0 Mt
2025-06-060.85 % Cu
2025-06-060.63 g/t Au
2025-06-061.8 Mt
2025-06-061.24 g/t Au
2025-06-06100 %
2025-06-30-8830111 AUD
2025-06-30EPM 13368 None
2025-06-30377000000 AUD
2025-09-2337 %
2025-09-23266000000 AUD
2025-09-23138 AUD/t
2025-09-2310 years
2025-09-231.2 Mtpa
2025-09-2336 USD/oz
2025-09-19618000000 AUD
2025-09-23683000000 AUD
2025-09-23693000000 AUD
2025-09-2353 %
2025-09-2339 %
2025-09-234 %
2025-09-234 %
2025-09-23266000000 AUD
2025-09-2416000000 AUD
2025-10-14251447060 shares
2025-12-0124150000 options
2025-12-012550000 rights
2025-12-0115815326 AUD
2025-12-316.43 quarters
2025-12-3117568000 AUD
2025-12-3115815326 AUD
2025-12-31251447060 shares
2025-12-31700137 AUD
2025-12-3114610000 AUD
2026-03-3112.98 quarters
2026-03-31True None
2026-03-0388 %
2026-03-3196 %
2026-03-3162822481 shares
2026-05-270.3508 AUD/share
2026-05-27314269541 shares
2026-05-2724150000 options
2026-05-272550000 rights
2026-05-2733405000 AUD
2026-06-3014.71 quarters
2026-06-302270000 AUD
2026-06-3022038000 AUD
2026-05-2759.28 USD/oz
2026-06-304034.7 USD/oz
2026-06-30H2 FY27 None
2026-07-20314269541 shares
2026-06-3033400000 AUD
2026-06-3024150000 options
2026-06-302550000 rights
2026-06-30H2 FY27 None
2026-07-220.42 AUD/share
2026-09-25328530 shares
2026-09-2562822481 shares
2026-05-200.3508 AUD/share
2026-05-2024 months
2026-05-206 months
2026-05-2018305060 AUD
2026-06-3015100418 AUD
2026-06-30-9252339 AUD
2026-06-30314269541 shares
2026-08-21Expired, renewal in progress None
2026-06-30Granted None
2026-06-30True None
2026-06-302026-11-23 None
2026-09-07After short handover None
2026-09-073000000 options
2026-09-073500000 rights
2026-09-0715000 m+
2026-09-1740000 m
2026-09-1711.0m at 10.3% Pb and 116g/t Ag None
2026-09-17Q4 FY2027 None
2026-09-17195000000 AUD
2026-07-2750000000 AUD
2026-07-27Conflicts requiring judgment3
- 2025 mineral resource estimate release
The issuer explicitly identified the 6 June filing as the amended release; it is used for all resource figures.
- Standalone PEA life-of-mine free cash flow
A$683m from detailed section 11 Table 32 and the headline is selected over the isolated A$693m summary-table value.
- updated_resource_timing
The later September issuer update gives Q4 FY2027 timing and supersedes the annual report narrative discussing calendar 2026.