Hello Everyone
I wanted to share with you this timeline of the Maronan deposit. Most of the exciting times for Red Metal shareholders were between 2013-2017 when it really looked like Maronan was on its way to mining even at those low silver prices. Also at the end is a friendly Christmas message so I hope you are all well.
I really do believe that Maronan Metals is being shorted - and that it is Australian hedge funds that are working for the Chinese who are doing it. This is how the vast Australian wealth of our mineral resources is plundered via the stock market. We must fight back. Directors must fight back on our behalf! As a shareholder demand to know who came on our register in the last placement! This is silver , this is the third largest silver deposit in Australia! How much of this silver could end up in Chinese military weapons? How is this good for us or our country? That silver could be used to support us financially for the rest of our lives through dividends paid out in actual silver. It could also be used to create all kinds of industries and manufacturing which are all gone throughout our country.
2006 - The Maronan deposit was bought by Red Metal after BHP withdrew. BHP withdrew following a four year program which involved completion of 16 wide spaced exploration drill holes targeting a giant Cannington type deposit. The best result from this program included 14.1m at 176g/t silver and 11.3% lead. Step out holes from this intersection were greater than 200 metres apart leaving scope for defining a moderate tonnage but high grade lead-silver ore body.
2010 - A revised interpretation of the drill data by Red Metal infers a steep northerly plunge rather than a steep southerly plunge to the pre shoots which has opened up significant untested exploration potential down plunge towards the north.
2011 - very little in the annual report about Maronan
2012 - Drilling in 2011 intersected significant high grade silver-lead mineralisation of a similar style and tenor to the Cannington deposit. These results represented the highest lead and silver grades intersected on the project to date and included intercepts of 14.5% lead, 371g/t silver over a true width of 2.58m with a nearby parallel zone averaging 11% lead and 245g/t silver over a similar width. The key to the significance of the intersections is whether they can be replicated at depth and a deep angled drill hole testing this concept commenced in July 2012. The deep hole is directed towards a strong off-hole conductivity anomaly detected about 800m below surface by down hole geophysical surveying of previous drilling. This drill test seeks a potentially thickened zone of high-grade silver and lead mineralisation associated with pyrrhotite, a highly conductive iron sulphide mineral. If this and subsequent drilling is successful it will open the project up to further step out drilling and potentially resource definition drilling in the year ahead.
2013 - Red Metals tenth year as a listed greenfields explorer was a dynamic one marked by significant exploration success on the company's wholly owned Maronan project. A series of deep, widely spaced proof of concept holes substantiated the company's new geological model and in doing so discovered significant high grade silver-lead intersections of a similar style and tenor to that of the nearby Cannington deposit. This mineralisation has shown improvement in grade and width at depth.
2014 - Another exciting year for Red Metal. The Maronan project in Qld took a significant step forward this year with the discovery of multiple separate horizons of strong Cannington Mine style lead and silver mineralisation at shallow levels below the hinge zone to the northern fold structure. The discovery hole MRN13002 was Red Metal's first drill hole into the northern hinge zone target guided by the company's new geological model and the first drill hole to discover significant bedded lead and silver mineralisation in this region.
2015 - The focus of Red Metal for 2015 financial year has been the advancement of the promising Maronan silver-lead project in Qld. In July 2014 Red Metal raised $5.1m to fund step out drilling at Maronan to evaluate the continuing of a new zone of significant lead and silver mineralisation discovered at the northern end of the deposit. Whilst this years drilling is believed to have defined the full lateral extent of the deposit the mineralisation remains open at depth and ongoing interpretation of drill data for the whole deposit is beginning to reveal it's full geological potential and economic significance. Interpretation of a three dimensional model and initial metallurgical testing have generated very positive information, and preliminary mining studies are about to begin.
### please note most this is all taken from the chairman's letter on the front page of the annual report. This highlights how Maronan was the most impressive deposit in Red Metal's entire portfolio in these years ##
2016 - Red Metal continued to focus on advancing the promising Maronan project in Qld during the 2016 financial year. Maiden resource calculations on the separate silver-lead and copper-gold deposits at Maronan were announced along with the positive results of early-stage metallurgical test work. This information formed the basis for completion of the preliminary mine scoping study which highlighted the potential for the project to generate strong positive cash flows.
2017 - Red Metals most advanced asset is the Maronan project where a preliminary mine scoping study based on significant resources of lead, silver, copper and gold highlighted it's robustness and potential to generate strong positive cash flows. Work to date presents a strong technical and economic case to advance the project and the company remains determined to find a competent mining group to join in moving Maronan towards a final feasibility study.
2018 - This is where Maronan seems to take a back seat in the annual report to other Red Metal projects.
Maronan is not mentioned on the front page in the chairman's letter, in operations update - A nearby discovery to Maronan could materially enhance Maronan's economics and recent regional exploration has led to the identification of two promising electronic conductors which will be subject to drilling shortly.
2019 - Again, nothing in the Chairman's letter on front page of Red Metal's annual report. Review of operations - Red Metal will continue to advance the exciting Maronan project. The Maronan project is a large base metal deposit that scoping studies suggest is worthy of full feasibility study evaluation. Maronan has JORC 2012 compliant inferred resources of 30.8 Mt @ 6.5% lead with 106g/t silver. The lead and silver mineralisation is soft, course grained and preliminary metallurgically tests returned recoveries of between 92-96% for the lead and 91%-94% for the silver. Applying current commodity prices and exchange rates to the 2016 preliminary mine scoping study for Maronan has shown the resource grade of 6.5% lead with 106g/t silver is equivalent to a lead grade of 10.2%. This is equivalent to a copper grade of about 3.4%. in addition, Red Metal recognizes vectors within the deposit that support the concept for a large, higher grade Cannington style silver-lead-zinc deposit and enriched copper-gold system at depth below the existing resources.
2020 - hardly any mention of Maronan activities except for planned 2D seismic surveying over the deposit.
2021 - The Maronan Metals Spinout.
Red Metal is advancing the Maronan project through its proposed Spinout and listing on the ASX of Red Metals wholly owned subsidiary Maronan Metals. In April 2021, the company shareholders approved the spinout in conjunction with a $30 million capital raising. The team is drafting the prospectus and is engaged with potential cornerstone investors.
Veritas Securities acted as lead manager to the Spinout and capital raising. Veritas took about 10% of Maronan for themselves using companies held in the names of the Reynolds brothers and Rob Scappatura, who are the three directors of Veritas. Veritas were then invited to be lead managers for the May placement which saw two new entities (UBS and Zero Nominees) who received 15 million shares. I do not know if even Veritas know the real identities of the institutions inside of UBS and Zero, the only thing I know is that these two entities have the capability and the motive for keeping Maronan's price down. Repeated attempts to uncover their identities have been a waste of time and I would appreciate anyone else who can discover who they are.
The price suppression continues..this may be short selling..if it short selling, rather than blame me for the weak share price, management needs to DO SOMETHING ABOUT IT OR FACE SERIOUS CONSEQUENCES DOWN THE TRACK. Even if it not short selling, any institution that is selling now, must not be allowed to replenish their sold stock next year when we need to raise capital again. The idea is for the share price to rise and raise capital at the high prices not just keep the price suppressed at 20c by the big boys.
Thankyou. And here is my final Xmas message as a video on YouTube . And also attached are two screenshots from yesterday and today's trading which I am all too familiar with. See if you can notice anything peculiar.
Yesterday there was impressive buying of Maronan from Investigator Resources shareholders trying to get out of that and into Maronan and the price would have taken off, but if you look at the screenshot it shows a sudden dump at 21.5c 1 minute after buyers started buying at 23c, a price we haven't seen for months. It's always the same, they squash the price whenever there is a hint of it going up.
Today's screenshot shows the final trade of the day being the tiniest trade of the day, in the dying moments before close, pushing it down to the lowest price of the day 20.5c. this is after it traded between 21c-22c all day. This is unsophisticated analysis, for full analysis see the 39p Maronan trading report sent earlier
(20min delay)