8 Dec 2022director officer appointment● Neutral
Catriona Glover became Company Secretary and Ian Forbes became CFO on 7 December 2022. Ian White resigned from both roles, after about seven months in them.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Dec 2022drilling result▲ GoodMajor
Northern Fold lead-silver holes returned wide intercepts: 27.0m at 4.9% lead and 96g/t silver in MRN22002W2, and 27.5m at 3.0% lead in MRN22002W1. The company says the zone may suit bulk mining, subject to further work, and it remains open down plunge.
29 Nov 2022investor presentation● Neutral
AGM investor presentation on exploration progress since listing. The visible text is only disclaimers, with the rest truncated. No new results can be confirmed from it.
24 Nov 2022drilling result▲ GoodMajor
MRN22001 hit 19.2m at 1.83% copper and 1.58g/t gold, within a 122.6m zone averaging 0.55% copper. Re-sampling of historic MRN12004 gave 91.8m at 0.88% copper. Gold-only hole MRN22004 missed its target; a follow-up is planned for 2023.
31 Oct 2022quarterly activities report● Neutral
September 2022 quarterly: cash was $12.068m, down from $13.037m in June. Two Northern Fold lead-silver holes are complete with assays pending, and a first deep Cannington-style test is planned for the December quarter. Largely repeats the 19 October assays.
19 Oct 2022drilling result▲ GoodMajor
First assays from MRN22001A: 33.6m at 0.28% copper and 0.59g/t gold, including 11.0m at 0.51% copper, plus 4.4m at 1.07% copper deeper down. Management says the results support the geological model. Follows the September visual-only update; MRN22001 assays due.
19 Oct 2022agm notice● Neutral
The 2022 AGM is set for 29 November 2022. Director nominations close 5pm Sydney time on 30 October 2022. Administrative notice only.
7 Oct 2022other● Neutral
Listing Rule 4.10.19 confirmation that, from admission on 27 April to 30 June 2022, the company used its cash in line with the business objectives in its prospectus. Administrative, with no new figures or results.
29 Sept 2022other● Neutral
Appendix 4G and Corporate Governance Statement filed with the annual report, with governance approved by the board as at 28 September 2022. Administrative, no new business information.
29 Sept 2022annual report● Neutral
Annual report for the year to 30 June 2022, the first since listing. It restates Inferred Resources of 30.8Mt at 6.5% lead and 11Mt at 1.6% copper. Drilling began in August and the chair says plans are on track with the prospectus.
20 Sept 2022drilling progress report● Neutral
Re-release of the 15 September visual drilling update with a JORC table attached. The content is the same: visible copper and lead-silver in MRN22001A, with assays due by the end of October.
15 Sept 2022drilling progress report▲ Good
First hole MRN22001A finished at 801.7m, showing visible copper and lead-silver mineralisation by core inspection only. Assays are expected by the end of October, and the daughter hole is still drilling. These are visual observations, not grades.
8 Aug 2022drilling spud▲ GoodMajor
Maiden drilling started at Maronan, the first since 2014. Two copper-gold holes and one lead-silver hole are planned. The copper-gold holes target zones above a historic hole that hit 27.8m at 1.9% copper and 1.6g/t gold.
29 July 2022quarterly activities report● Neutral
June 2022 quarterly: cash was $13.037m and exploration spend was $209,000. The team is built, a Cloncurry core facility is set up, and the drill start has moved to early August. Three initial holes are designed.
27 June 2022drilling scheduled▲ Good
Drilling at Maronan is on track to start in July 2022, with a rig secured from DDH1 Drilling. This keeps to the start timing projected in the prospectus.
13 May 2022director officer appointment● Neutral
Ian White, an accountant with 22 years as a listed-company secretary, became Company Secretary and Chief Financial Officer on 13 May 2022. He replaces Patrick Flint as Company Secretary, who resigned.
29 Apr 2022other▲ Good
Shares began trading on 29 April 2022 after the oversubscribed $15.0m IPO. The company plans to remodel the deposit and start a maiden drill program in the September 2022 quarter, building on the existing Inferred Resource.
29 Apr 2022investor presentation● Neutral
Investor presentation dated April 2022 for the listing, covering the Maronan Project. The visible text is mostly disclaimers and the rest is truncated. It repeats information from the prospectus, with no new results.
28 Apr 2022other● Neutral
ASX notice that Maronan Metals was admitted on 27 April 2022, with quotation from 29 April. Confirms the $15,000,000 raising at $0.20 and escrow of 74,999,990 shares and some options to 29 April 2024. Administrative, no new information.
27 Apr 2022other● Neutral
Company constitution adopted by members on 18 February 2022. Standard governing document with no new business or financial information.
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.