Maronan Metals Ltd (ASX: MMA), an Australian minerals company focused on advancing its Maronan Silver-Lead and Copper-Gold deposit in Queensland, has successfully raised $16 million through an institutional placement. The company’s Maronan Project is recognised as one of Australia’s largest and highest-grade undeveloped silver deposits. The placement, which received binding commitments, was strongly supported by both new institutional and sophisticated investors, as well as existing shareholders.
The placement was priced at $0.35 per share, representing an 18.6% discount to the last closing price on Friday, 3 October 2025. Maronan Metals will issue a total of 45,714,286 fully paid ordinary shares under the placement, with allotment of the new shares expected on Tuesday, 14 October 2025. Bell Potter Securities Limited and Veritas Securities Limited acted as Joint Lead Managers to the Placement.
In addition to the placement, Maronan Metals announced a Share Purchase Plan (SPP) to raise up to $3.0 million. Eligible shareholders, registered as of 7:00pm (AEDT) on Tuesday, 7 October 2025, will have the opportunity to participate in the SPP at the same offer price of $0.35 per share as the placement. The SPP offer period will commence on Thursday, 16 October 2025, and is scheduled to close on Thursday, 30 October 2025.
The proceeds from the capital raising will be allocated to advance feasibility and environmental studies, undertake resource infill, geotechnical and exploration drilling, commence early site and development works, and provide general working capital. Chairman Simon Bird stated the raising is an important step towards completing further surface drilling, technical studies, and early development works, as the company aims to become mine ready.
