Maronan Metals (MMA) H2 2026 earnings summary

Executive summary

• Advanced the 100%-owned Maronan Project in NW Queensland, focusing on silver-lead and copper-gold resources, with a transformative year marked by key milestones and strengthened project economics due to favorable commodity prices.

• Released a positive Preliminary Economic Assessment (PEA) for the Starter Zone, outlining a 10-year, 5.4Moz p.a. silver-equivalent operation, and commenced a Pre-Feasibility Study (PFS) for broader development options.

• Secured Mineral Development Licence (MDL 2028), enabling underground exploration and bulk sampling, and finalized Native Title agreements.

• Strengthened balance sheet with $16M institutional placement and $22M strategic investment from Kinterra Capital, ending FY26 with $33.4M in cash and short-term investments.

• Broadened shareholder base via Red Metal Limited’s in-specie distribution and expanded leadership team.

Financial highlights

• Loss after income tax for FY26 was $9.25M, compared to $8.83M in FY25.

• Total income from ordinary activities rose to $1.73M (FY25: $0.26M), mainly from interest and R&D tax incentives.

• Cash and short-term investments at 30 June 2026 totaled $33.4M.

• Share price increased over 100% year-over-year, from $0.21 to $0.44.

• Equity raised: $16M in October 2025 and $22M in May 2026.

Outlook and guidance

• Well-funded to progress expanded infill drilling, advance the PFS, and update the Mineral Resource Estimate in H2 2027.

• Focus on de-risking pathway toward Definitive Feasibility Study and development decision.