Maronan Metals Raises AU$16 million to Accelerate Silver Lead Copper Development

Maronan Metals Limited (ASX: MMA) announced that at the time of writing it has raised AU$16 million through a strongly supported institutional placement, with additional plans for an AU$3 million Share Purchase Plan (SPP) open to eligible shareholders. The funds will advance resource growth, feasibility studies, and early-stage development at the company’s Maronan Silver-Lead and Copper-Gold Project in Queensland’s Cloncurry region.

The placement, priced at AU$0.35 per share, attracted significant demand from both new and existing investors, including institutions from Australia and overseas. Funds will be directed toward infill and exploration drilling, geotechnical work, environmental studies, and initial site development ahead of a Mining Development Licence application.

Chairman Simon Bird said the raise supports the company’s goal of progressing the Maronan Project toward production readiness, building on strong results from the recent Preliminary Economic Assessment.

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