Maronan Metals (MMA) Q1 2026 TU earnings summary

Executive summary

• Released inaugural Preliminary Economic Assessment (PEA) for the Maronan Starter Zone, confirming robust project economics and marking a key milestone toward mine development.

• Signed a Memorandum of Understanding with Austral Resources for potential toll treatment, offering a lower capital expenditure pathway.

• Environmental Assessment Application submitted and progressing for the Mineral Development Licence.

• Post-quarter, completed a $16M placement and launched a $3M share purchase plan to strengthen financial position.

• Resumed fieldwork and surface diamond drilling to expand resources and support technical studies.

Financial highlights

• Net cash outflow from operating activities for the quarter was $1.37M, with $795K spent on exploration and $241K on development.

• Cash and cash equivalents at quarter end were $1.66M, down from $3.03M at the start of the quarter.

• $16M raised via placement and up to $3M targeted through a share purchase plan post-quarter.

Outlook and guidance

• PEA indicates a 10-year mine life at 1.2Mtpa, producing ~5.4Moz AgEq per annum, with significant upside potential as only 22% of the silver-lead resource is included.

• Additional infill drilling could potentially double production profile and improve project economics.

• Funds raised will support ongoing drilling, feasibility, and early development activities.