News: RDM Red Metal Ltd Proposes To Spin Out Maronan Project Through Listing On ASX, page-62

An exceptional deal, finally realising value in RDM. Maronan Metals (MMA) will have 100% of the project, and be valued at around A$72M with say A$28M cash (50% of the 240M shares plus 20M performance rights held by RDM).

100Moz of silver, and a chance at the Cannington style discovery at >500g/t (for those who remember Cannington made A$1,000M in EBITDA in the year silver last ran, for BHP). The silver leverage is great, shallow resource, relatively low capital. What's not to like?

In my view might take 2 years to drill to Indicated and complete a PFS (?) however can then enter the realm of peers like Silver Mines (ASX: SVL) Rumble Resources (ASX: RTR) and others with A$200-300M market cap and a large base metal project in development (Pb-Ag in this case).

So if you take the view Lead has a great future in batteries and other uses, and silver may continue to outperform other metals, then RDM and MMA look like a good investment to me. Not mention the huge suite of very promising IOCG targets that RDM have.