27 Apr 2022other● Neutral
Company constitution adopted by members on 18 February 2022. Standard governing document with no new business or financial information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Apr 2022other● Neutral
Employee Securities Incentive Plan rules, a standard document setting out how options and rights may be granted to staff. No new figures or business developments.
27 Apr 2022capital raising announcement● Neutral
Prospectus for 60,000,000 shares at $0.20 to raise $12,000,000, with up to 15,000,000 more in oversubscriptions ($3,000,000), plus one free option per three shares. Includes a priority offer to Red Metal shareholders and 25,000,000 bonus options. Detail of the raising already announced.
27 Apr 2022other● Neutral
Distribution schedule as at 19 April 2022 shows 377 holders of 150,000,000 shares. The 92 holders with over 100,000 shares hold 92.68% of the company. Administrative listing requirement.
27 Apr 2022other● Neutral
Securities trading policy restricting directors and key staff from trading around reports and when holding price-sensitive information. Standard administrative document with no new information.
27 Apr 2022half year report● Neutral
Half-year report to 31 December 2021 shows a loss of $351,390 and cash of just $10. Net liabilities were $1,884,113. Plans staged, targeted exploration at Maronan, subject to securing funding, which the IPO now addresses.
27 Apr 2022annual report● Neutral
Annual report for the year to 30 June 2021, filed for the listing. Loss was $799,422. Trial 2D seismic over Maronan was completed, and the company was still seeking funding to test its targets. Simon Bird and Richard Carlton joined the board in March 2021.
27 Apr 2022other▲ Good
Pre-quotation confirmations: the $15,000,000 IPO (75,000,000 shares at $0.20) is complete and Red Metal's loan was settled with 74,999,990 shares, 13,500,000 performance rights and $500,000 cash. Pro-forma cash is about $13.6m; $11m is earmarked for Maronan exploration.
27 Apr 2022other● Neutral
Top 20 holders list as at 19 April 2022. Red Metal Limited holds 75,000,000 shares, 50.00% of the company. The top 20 hold 79.53% in total. Administrative listing requirement.
27 Apr 2022other● Neutral
Listing application form and checklist for Maronan Metals, applying to quote up to 150,000,000 shares. It names Simon Bird as Chair, Richard Carlton as Managing Director and Robert Rutherford as director. Administrative listing paperwork with no new results.
27 Apr 2022other▲ GoodMajor
Maronan Metals was admitted to the ASX Official List on 27 April 2022, with trading starting 29 April. It raised $15,000,000 by issuing 75,000,000 shares at $0.20 each, via a prospectus. Nearly all other shares and options are escrowed to 29 April 2024.
27 Apr 2022annual report● Neutral
Annual report for the year to 30 June 2020, filed for the listing. Loss was $633,914. The company, a wholly owned Red Metal subsidiary, acquired the Maronan Project in Queensland in April 2019 and was seeking a funding partner.
27 Apr 2022other● Neutral
Corporate governance statement dated 18 February 2022, setting out which ASX governance recommendations the company follows. The board has no separate committees, given its size. Administrative, no new business information.