MMA

2.17%

22.5¢ maronan metals limited

I liked Bobbieb's post but I also totally agree with your...

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Kipper01

7,853 Posts.

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09/04/24

22:59

Post #: 73266638
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Originally posted by PhillW ↑

We'll have to agree to disagree with your statement about waiting for the last possible moment!

The longer MMA procrastinate on the funds front, the more likely it is that there will be no drilling before the EOFY. It's the drill bit that is going to attract investors in the numbers required to elevate the share price significantly. There is nothing more powerful for a companies share price than to be drilling and releasing good assay results in a commodities bull market when you have bullish sentiment in that commodity. A 10% placement which is 16M shares at 28c raises $4.4M and with these funds MMA can book drill rigs and be drilling from early May which is exactly what their parent company, RDM are doing.

Waiting for an economic release on the chances of an improved silver price is a gamblers mentality and I hope like hell the MMA management are not gamblers. I day trade forex for a living and I exit the market 10 minutes before any RED impact announcement and renter 10 minutes after the announcement for the exact reason I stated above. All of my back testing has shown that it is more profitable on a win/loss ratio to exit and reenter after major announcements.

Then there is the current issue with the silver shorts being their highest level since before Covid. On a Risk/Reward basis it is more prudent to raise capital asap and start drilling in early May, but they can't do this if they do not have the funds.

MMA have been in overdrive on the promotional front for most of 2024. I'm just hoping that they have the funding teed up and have booked the drill rigs and we get notification of this either this week or next. They did indicate to me that they would make an announcement as soon as possible.

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I liked Bobbieb's post but I also totally agree with your comments above Phill ... Full steam ahead and get it rocking and rolling asap. Momentum is very important.
... Raising by conversion of existing Option holders would be fast and smooth too. Like it

Kip

MMA Price at posting: 32.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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I liked Bobbieb's post but I also totally agree with your...

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I liked Bobbieb's post but I also totally agree with your...

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