Past year: ▲ 24%(29.5c – 60.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Feb 2025investor presentation● Neutral
MD presentation at the NSW/QLD Precious and Base Metals Mining Conference, 4 February 2025. Visible text is only disclaimers referencing earlier drilling and the March 2024 resource; no new results are visible.
3 Dec 2024investor presentation● Neutral
MD presentation at the Resources Rising Stars Conference, 3 December 2024, titled 'Advancing towards Mine Ready'. Visible text is only disclaimers referencing the March resource and 7 August intercept; no new results are visible.
27 Nov 2024admin correction● Neutral
Adds extra disclosure under Listing Rule 5.3 to the September 2024 quarterly report, via an addendum. The visible text does not show what the addendum contains, so no new figures or results can be confirmed.
20 Nov 2024security holder rights change● Neutral
Following AGM approval on 11 November, 10,000,000 director options were issued at $0.275, expiring 15 November 2027: 4,000,000 each to Richard Carlton and Robert Rutherford, and 2,000,000 to Simon Bird.
14 Nov 2024investor presentation● Neutral
MD presentation at the Noosa Mining Conference, 14 November 2024. Visible text is only disclaimers, referencing the March resource and the 7 August intercept; no new results are visible.
11 Nov 2024admin correction● Neutral
Re-issue of the 7 November drilling announcement, adding a summary of the March 2024 resource estimates and a competent person comment on metal equivalent recoverability. The drilling results themselves are unchanged.
11 Nov 2024investor presentation● Neutral
MD presentation at the 2024 AGM, 11 November 2024. Visible text is only disclaimers, referencing the March resource and the 7 August intercept; no new results are visible.
7 Nov 2024drilling result▲ GoodMajor
MRN24005 hit 18.41m at 5.3% lead, 146g/t silver and MRN24006 hit 11.94m at 7.8% lead, 158g/t silver, completing the close-spaced test of grade variability. Drilling has passed 7,000m, with a resource review planned for early 2025.
28 Oct 2024investor presentation● Neutral
MD presentation at the October 2024 investor roadshow, 28 October 2024. Visible text is only disclaimers, referencing the March resource and the 7 August intercept; no new results are visible.
21 Oct 2024security holder rights change● Neutral
2,209 shares issued on exercise of $0.30 options expiring 19 October 2024, raising $662.70, plus 1,104 secondary options at $0.60 expiring 30 June 2025. Minor exercise, with no placement capacity used.
16 Oct 2024security holder rights change● Neutral
3,774 shares issued on exercise of $0.30 options expiring 19 October 2024, raising $1,132.20, plus 1,886 secondary options at $0.60 expiring 30 June 2025. Tiny option exercise, with no placement capacity used.
1 Oct 2024auditor change● Neutral
BDO Audit Pty Ltd appointed auditor after BDO Audit (WA) resigned with ASIC consent, due to BDO's national integration of its audit practice. This follows the 30 September annual report re-issue; shareholders will be asked to confirm the appointment at the next AGM.
30 Sept 2024admin correction● Neutral
Annual report re-issued because it named BDO Audit as auditor when BDO Audit (WA) is still the current auditor. BDO Audit retracted its report and BDO WA issued one. The only change is the auditor name; no financial changes.
25 Sept 2024drilling result▲ GoodMajor
Infill holes MRN24003, its twin MRN24003W1 and MRN24004 hit wide silver-lead: 17.1m at 3.6% lead, 103g/t silver; twin 15.37m at 3.7% lead, 105g/t; MRN24004 15.85m at 4.1% lead, 111g/t. The near-identical twin supports grade continuity in the March resource model.
18 Sept 2024investor presentation● Neutral
MD presentation at the GBA Emerging Copper Conference, 18 September 2024. Visible text is only disclaimers, referencing the March resource and the 7 August intercept; no new results are visible.
11 Sept 2024annual report▲ Good
Annual report for year to 30 June 2024. The chair cites the $9m June raise (first since 2022 listing), the maiden Indicated Resource and the 1520g/t silver intercept, and says the 7,000-10,000m drilling is well underway. Financial statements are not visible.
11 Sept 2024admin correction● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2024, accurate as at 11 September 2024 and approved by the board. Administrative filing with no new substance.
28 Aug 2024investor presentation● Neutral
MD presentation at the Australian Gold Conference, 28 August 2024. Visible text is only disclaimers, referencing the March resource and the 7 August bonanza intercept; no new results are visible.
7 Aug 2024drilling result▲ GoodMajor
First 2024 infill hole MRN24002 hit 23.32m at 5.0% lead, 175g/t silver, including 0.71m at 22.1% lead, 1520g/t silver, the highest silver assay at Maronan. Continuity between holes supports the March 2024 resource model.
19 June 2024investor presentation● Neutral
MD presentation at the RIU Gold Coast showcase, 19 June 2024. Visible text is only disclaimers, referencing the 12 March 2024 resource estimate; no new results are visible.
17 June 2024security holder rights change● Neutral
Red Metal converted its remaining 4,000,000 performance rights into 4,000,000 fully paid shares on 17 June 2024. The milestones were satisfied earlier (announced 2 January 2024); the shares did not use placement capacity.
13 June 2024capital raising announcement▲ GoodMajor
SPP drew $3.368m of applications versus the $1.5m target, and MMA accepted all eligible applications. 14,033,260 shares at $0.24 will be issued 14 June. With the $5.65m placement, the raising totals about $9m.
What it means for a shareholder
14.0m new shares at A$0.240 to raise about A$3.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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7 June 2024regulatory community update▲ Good
The Takeovers Panel declined to conduct proceedings on Benjamin Pauley's 20 May application, finding insufficient material to justify further enquiries and no reasonable prospect of a declaration of unacceptable circumstances. This resolves the threat to the placement and SPP.
6 June 2024drilling scheduled▲ GoodMajor
Drilling restarts at Maronan with a Board-approved 7,000-10,000m diamond program, funded by the May raising. It aims to grow the Indicated silver-lead resource in the Starter Zone, infill the Western Horizon and test southern extensions, supporting mining studies later in the year.
24 May 2024capital raising announcement● Neutral
SPP offer opens to eligible shareholders at $0.24 a share, up to $30,000 each (minimum $2,000), targeting $1.5m with scale-back or oversubscriptions possible. The $5.65m placement shares were issued 23 May 2024, so the raising has completed its first stage.
21 May 2024security holder rights change● Neutral
67,295 shares issued on exercise of $0.30 options, raising $20,188.50, plus 33,647 unquoted secondary options at $0.60. Routine minor dilution.
21 May 2024regulatory community update▼ Bad
MMA confirms a shareholder's Takeovers Panel application relating to the 16 May placement and SPP. It is taking legal advice, continuing the raising on an unchanged timetable, and will update shareholders on material developments.
20 May 2024regulatory community update▼ BadMajor
Takeovers Panel received an application from a shareholder, Benjamin Pauley, over trading in MMA shares before the placement announcement. He seeks to defer settlement and cancel or amend the placement. No Panel decision yet; MMA has not commented. Puts the raising at risk.
17 May 2024security holder rights change● Neutral
2,209 shares issued on exercise of $0.30 options, raising $662.70, plus 1,104 unquoted secondary options at $0.60. Routine minor dilution.
16 May 2024capital raising announcement● NeutralMajor
Placement raises $5.65m at $0.24 a share (20% below last trade) via 23,545,168 new shares, led by Veritas. A Share Purchase Plan targets up to $1.5m at the same price. Funds go to the scoping study, Starter Zone drilling and environmental work; the first raise since the 2022 IPO.
What it means for a shareholder
23.5m new shares at about A$0.240 to raise about A$5.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
