Quinton Hennigh’s Comments from Crescat Capital (the 38:25 mark);
8/04/22
https://youtu.be/EMcdCp6Pwkw
from Rat's Rant
MMA - Maronan Metals Limited
Maronan Metals will be listing tomorrow at 10:30am after raising $15m @ 20c through the boys and girls at Veritas Securities and my broking mate who we will call Burt Reynolds to keep him anonymous was kind enough to offer me a few.
Upon listing, MMA will have 150m shares on issue to hand them an EV of $35m, the top 20 shareholders currently own over 79% of the company, so she's tight.
MMA is a spin out of Red Metal Limited (RDM.asx with 50% ownership) and holds a 100% interest in the Maronan lead-silver copper-gold project located in the world class Carpentaria Province in Northwest QLD.
The Maronan lead-silver and copper-gold deposit is an emerging base metal deposit in the world class Carpentaria Province which hosts multiple Tier 1 lead-zinc-silver mines including Mount Isa, George Fisher, Century, Cannington, Dugald River.
The Carpentaria Province also has significant copper deposits including Mount Isa, Ernest Henry, Osborne and Eloise.
Drilling on the Maronan project has identified two separate styles of mineralisation including bedded lead-silver mineralisation partially overprinted by structurally controlled copper-gold mineralisation.
The lead-silver mineralisation at Maronan is interpreted as a Broken Hill-type deposit and bears strong similarities to that of the nearby Cannington deposit.
The Cannington deposit was discovered by BHP in 1990 and contains a total resource of 43.8m tonnes @ 11.6% lead, 4.4% zinc & 538 ppm silver.
Unlike Cannington, Maronan is hosted in carbonate dominant exhalative and is steep dipping, less metamorphosed, less structurally complex and remains open at depth.
This copper-gold mineralisation is a late-stage, structure-controlled style that has geological similarities with that at the nearby Eloise copper-gold mine.
They (RDM.asx) drilled this thing back in late 2012 (not sure if can see the chart below) but there was plenty of excitement back then and for a variety of reasons it has been sitting somewhat idle ever since
MMA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)