Maronan Metals
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Maronan Metals (MMA) investor relations material

Maronan Metals RIU Explorers Conference 2026 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Maronan Metals Limited
RIU Explorers Conference 2026 summary18 Feb, 2026

Project overview and resource highlights

  • Holds a single exploration tenement in North West Queensland with over 65 million tons of resources, including 122 million ounces of silver, 2 million tons of lead, 271,000 tons of copper, and 760,000 ounces of gold.

  • Features a 33 million ton Broken Hill-style silver-lead deposit overprinted by a 32 million ton iron sulphide copper-gold deposit.

  • Market cap is approximately AUD 120.7 million, with an enterprise value of about AUD 100 million and AUD 15.8 million in cash as of December 2025.

  • Substantial shareholders include Red Metal Limited (35.83%), Perth Capital Pty Ltd (7.10%), and MGX Resources Limited (5.02%).

  • Located in the Mount Isa District, surrounded by major mining operations and supported by a pro-mining state government.

Development strategy and economic assessment

  • Released a scoping study and PEA on the Starter Zone, showing a 10-year project with strong NPV and IRR at conservative silver prices.

  • Starter Zone contains 5.3 million tons of indicated silver-lead and 1.7 million tons of indicated copper-gold resources, supporting a 10-year initial mine plan mining about 22% of the global resource.

  • Two development options: build an on-site plant (capex AUD 270 million/$266 million, NPV8 AUD 380 million/$377 million, 4-year payback) or toll treat at local mills (capex AUD 100 million/$98 million, NPV AUD 360 million, faster payback).

  • Annual production averages 3.0 million ounces silver, 38,000 tons lead, 1,400 tons copper, and 3,800 ounces gold over 10 years.

  • Multi-metal exposure enhances strategic value, with silver-lead driving near-term economics and copper-gold providing future optionality.

Growth potential and exploration

  • Only a quarter of the total resource was considered in the PEA, indicating significant upside and expansion potential.

  • Every 1 million tons converted to indicated resource adds a year to mine life; potential for a three-decade project if two-thirds of the resource is converted.

  • Planned exploration decline and ongoing drilling aim to convert resources and enhance the early mine plan.

  • Upside exists to increase mining rates and indicated resource inventory.

  • Surface drilling to resume soon, supporting an updated Mineral Resource Estimate and Pre-Feasibility Study.

Strategy to convert 3/4 of total resource to Indicated
How does the exploration decline de-risk project?
Factors for optimal development path decision
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Frequently asked questions

Maronan Metals Limited is an Australia-based mineral exploration company focused on the development of precious and base metal projects. The company’s primary asset is the Maronan Project in Queensland, which contains significant deposits of silver, lead, and copper. Maronan Metals is engaged in exploration activities, resource assessments, and feasibility studies to advance its mining operations. Maronan Metals Limited is headquartered in Australia, and its shares are listed on the Australian Securities Exchange (ASX).

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