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2026-11-06
◂ Monitor MMA ASX

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
—
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

Narrative and provenance

Research & Sources

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Chronological 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
—
Open original source ↗
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
Open original source ↗
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
—
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
—
Open original source ↗
$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
—
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
—
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
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
Open original source ↗
Evidence facts81
f-mre-global-slpb-tonnesGlobal silver-lead resource

33.1 Mt

2025-06-06
f-mre-global-pb-gradeGlobal silver-lead resource lead grade

6.0 % Pb

2025-06-06
f-mre-global-ag-gradeGlobal silver-lead resource silver grade

108 g/t Ag

2025-06-06
f-mre-global-cuau-tonnesGlobal copper-gold resource

32.0 Mt

2025-06-06
f-mre-global-cu-gradeGlobal copper-gold resource copper grade

0.85 % Cu

2025-06-06
f-mre-global-au-gradeGlobal copper-gold resource gold grade

0.63 g/t Au

2025-06-06
f-mre-gold-only-tonnesGold-only inferred resource

1.8 Mt

2025-06-06
f-mre-gold-only-gradeGold-only inferred resource grade

1.24 g/t Au

2025-06-06
f-ar-ownershipMaronan Project ownership

100 %

2025-06-30
f-ar-fy25-lossFY2025 loss after tax

-8830111 AUD

2025-06-30
f-ar-epmExploration permit

EPM 13368 None

2025-06-30
f-pea-npvStandalone pre-tax NPV8

377000000 AUD

2025-09-23
f-pea-irrStandalone pre-tax IRR

37 %

2025-09-23
f-pea-capexStandalone pre-production capex

266000000 AUD

2025-09-23
f-pea-opexStandalone operating unit cost

138 AUD/t

2025-09-23
f-pea-mine-lifeStarter Zone mine life

10 years

2025-09-23
f-pea-throughputMine and plant throughput

1.2 Mtpa

2025-09-23
f-pea-silver-basePEA base silver price

36 USD/oz

2025-09-19
f-pea-silver-48-npvNPV8 at US$48/oz silver

618000000 AUD

2025-09-23
f-pea-fcf-683LOM free cash flow

683000000 AUD

2025-09-23
f-pea-fcf-693LOM free cash flow (summary table)

693000000 AUD

2025-09-23
f-pea-revenue-silverSilver share of PEA revenue

53 %

2025-09-23
f-pea-revenue-leadLead share of PEA revenue

39 %

2025-09-23
f-pea-revenue-copperCopper share of PEA revenue

4 %

2025-09-23
f-pea-revenue-goldGold share of PEA revenue

4 %

2025-09-23
f-pea-presentation-fundingIndicative standalone development funding requirement

266000000 AUD

2025-09-24
f-q1-placementOctober 2025 placement proceeds

16000000 AUD

2025-10-14
f-dec-sharesOrdinary shares on issue

251447060 shares

2025-12-01
f-dec-optionsOptions on issue

24150000 options

2025-12-01
f-dec-rightsPerformance rights on issue

2550000 rights

2025-12-01
f-q2-cashCash and cash equivalents

15815326 AUD

2025-12-31
f-q2-runwayEstimated funding runway

6.43 quarters

2025-12-31
f-q2-raisePlacement and SPP gross proceeds

17568000 AUD

2025-12-31
f-hy-cashCash at bank

15815326 AUD

2025-12-31
f-hy-sharesOrdinary shares fully paid

251447060 shares

2025-12-31
f-hy-liabilitiesTotal liabilities

700137 AUD

2025-12-31
f-q3-cashCash and cash equivalents

14610000 AUD

2026-03-31
f-q3-runwayEstimated funding runway

12.98 quarters

2026-03-31
f-q3-mdlMineral Development Licence 2028 granted

True None

2026-03-03
f-q3-gold-recoveryPrimary copper-gold ore gold recovery

88 %

2026-03-31
f-q3-copper-recoveryPrimary copper-gold ore copper recovery

96 %

2026-03-31
f-may-new-sharesPlacement shares quoted

62822481 shares

2026-05-27
f-may-issue-pricePlacement issue price

0.3508 AUD/share

2026-05-27
f-may-sharesOrdinary shares after quotation

314269541 shares

2026-05-27
f-may-optionsOptions on issue

24150000 options

2026-05-27
f-may-rightsPerformance rights on issue

2550000 rights

2026-05-27
f-q4-cashCash and cash equivalents

33405000 AUD

2026-06-30
f-q4-runwayEstimated funding runway

14.71 quarters

2026-06-30
f-q4-outgoingsQuarterly relevant outgoings

2270000 AUD

2026-06-30
f-q4-placementKinterra placement gross proceeds

22038000 AUD

2026-05-27
f-q4-silver-spotSilver price at quarter end

59.28 USD/oz

2026-06-30
f-q4-gold-spotGold price at quarter end

4034.7 USD/oz

2026-06-30
f-q4-pfs-timingPFS and updated MRE target

H2 FY27 None

2026-07-20
f-noosa-sharesShares on issue

314269541 shares

2026-06-30
f-noosa-cashCash

33400000 AUD

2026-06-30
f-noosa-optionsOptions

24150000 options

2026-06-30
f-noosa-rightsPerformance rights

2550000 rights

2026-06-30
f-noosa-pfsUpdated MRE and PFS target

H2 FY27 None

2026-07-22
f-price-20260925MMA ordinary share close

0.42 AUD/share

2026-09-25
f-volume-20260925Trading volume

328530 shares

2026-09-25
f-kinterra-sharesKinterra placement shares

62822481 shares

2026-05-20
f-kinterra-priceIssue price

0.3508 AUD/share

2026-05-20
f-kinterra-equity-rightEquity participation right

24 months

2026-05-20
f-kinterra-standstillStandstill and reserved matters

6 months

2026-05-20
f-ar26-bank-cashCash and cash equivalents at bank

18305060 AUD

2026-06-30
f-ar26-term-depositsTerm deposits

15100418 AUD

2026-06-30
f-ar26-lossFY2026 loss after tax

-9252339 AUD

2026-06-30
f-ar26-sharesOrdinary shares on issue

314269541 shares

2026-08-21
f-ar26-epmEPM 13368 status

Expired, renewal in progress None

2026-06-30
f-ar26-mdlMDL 2028 current to 28 February 2031

Granted None

2026-06-30
f-ar26-ntMitakoodi and Mayi Native Title agreements finalised for MDL

True None

2026-06-30
f-ceo-grahamAndrew Graham scheduled commencement

2026-11-23 None

2026-09-07
f-ceo-carltonRichard Carlton transition to non-executive

After short handover None

2026-09-07
f-ceo-sign-on-optionsFuture sign-on options

3000000 options

2026-09-07
f-ceo-sign-on-rightsFuture sign-on performance rights

3500000 rights

2026-09-07
f-sep17-drilled2026 infill drilling completed to date

15000 m+

2026-09-17
f-sep17-programPlanned infill drilling

40000 m

2026-09-17
f-sep17-interceptHeadline lead-silver intercept

11.0m at 10.3% Pb and 116g/t Ag None

2026-09-17
f-sep17-resource-timingUpdated resource target

Q4 FY2027 None

2026-09-17
f-bp-projectBroker risked Starter Zone project value

195000000 AUD

2026-07-27
f-bp-raiseBroker modeled near-term equity raise

50000000 AUD

2026-07-27
Conflicts 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.