Maronan Metals Announces $20M Placement with Institutional Support
Key points
- $20M placement at $0.40 per share, 2.3% discount to 5-day VWAP
- Largest shareholder Kinterra Capital increasing interest to 22.99%
- Funds to expand drilling, accelerate DFS, and advance engineering
- Third drill rig starting in November, fourth in December
Full summary
Maronan Metals Limited (ASX: MMA) announces a $20 million placement to accelerate its Maronan Project, one of Australia's largest undeveloped silver deposits. The placement, priced at $0.40 per share, is a 2.3% discount to the 5-day volume-weighted average price. The largest shareholder, Kinterra Capital, will increase its interest to 22.99%. The placement is subject to shareholder approval at the AGM on November 4, 2026. The funds will support expanded drilling, engineering, and regulatory work to advance the Definitive Feasibility Study (DFS). A third drill rig will start in early November, and a fourth by December, ensuring the expanded program remains on track for completion in Q4 FY2027.
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