# MMA: Quarterly Activities/Appendix 5B Cash Flow Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mma-quarterly-activities-appendix-5b-cash-flow-report--42d04c51-7a34-4154-b722-b48e1150d085 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03155034 Publisher: asx Original announcement: 2026-10-20T22:22:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-20T23:12:41.382Z Atlas analysis updated: 2026-10-20T23:12:41.382Z - Company: Maronan Metals Limited - Ticker: MMA - Exchange: ASX - Region: Northwest Queensland - Primary commodity: Lead - Secondary commodities: Silver, Copper, Gold, Zinc - Document categories: Drill results, Capital raise, Other - Extracted: 2026-10-20 23:12:42 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Maronan Metals reported steady progress in its 40,000m infill drilling program, delivering high-grade silver-lead and copper-gold intercepts. The company also secured firm commitments for a A$20 million placement and appointed Andrew Graham as new Managing Director and CEO. Reasoning: The report delivers several high-grade silver-lead and copper-gold intercepts that support resource expansion, alongside a significant capital raise commitment. - Positive factor: Strong silver-lead infill results - Positive factor: Copper-gold intercepts north of Indicated resource - Positive factor: Successful A$20m placement commitment - Positive factor: New CEO with relevant underground mining experience - Negative factor: Core loss noted in some intercepts Facts used in scoring: 6 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The report references JORC Table 1 information and competent person sign-off. Evidence · text > Full details, including estimated true widths and JORC Table 1 information, are set out in the referenced announcements. **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The report explicitly states the program is an infill drilling program. Evidence · text > Infill Drilling Program ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### MRN26002 [Link to this fact](https://atlas-staging.minestarters.com/news/mma-quarterly-activities-appendix-5b-cash-flow-report--42d04c51-7a34-4154-b722-b48e1150d085#fact-drill-facts-0) Maronan · lead #### Identity - Hole ID: MRN26002 - Project: Maronan - Commodity: lead - Region: australia\_qld - Reported Region: australia\_qld - Ticker: MMA #### Geometry - Grade: 11 - Grade Unit: % - Intercept: 7.3 m - True Width: 6.2 m - From: 345.7 m - To: 353 m - Intercept Depth: 345.7 m #### Classification - Sample Type: drill - Group ID: MRN26002:345.7-353 - Mining Method: underground #### Location - Location: Eastern Horizon - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Strong lead grade of 11.0% over 7.3m. - Positive factor: High grade lead intercept Evidence · text > 7.3 metres \(6.2m etw\) at 11.0% lead and 89g/t silver from 345.7m in MRN26002 #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 6.2 **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MRN26002 [Link to this fact](https://atlas-staging.minestarters.com/news/mma-quarterly-activities-appendix-5b-cash-flow-report--42d04c51-7a34-4154-b722-b48e1150d085#fact-drill-facts-1) Maronan · silver #### Identity - Hole ID: MRN26002 - Project: Maronan - Commodity: silver - Region: australia\_qld - Reported Region: australia\_qld - Ticker: MMA #### Geometry - Grade: 89 - Grade Unit: g/t - Intercept: 7.3 m - True Width: 6.2 m - From: 345.7 m - To: 353 m - Intercept Depth: 345.7 m #### Classification - Sample Type: drill - Group ID: MRN26002:345.7-353 - Mining Method: underground #### Location - Location: Eastern Horizon - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Significant silver grade accompanying lead. - Positive factor: Strong silver grade Evidence · text > 7.3 metres \(6.2m etw\) at 11.0% lead and 89g/t silver from 345.7m in MRN26002 #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 6.2 **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MRN26002 [Link to this fact](https://atlas-staging.minestarters.com/news/mma-quarterly-activities-appendix-5b-cash-flow-report--42d04c51-7a34-4154-b722-b48e1150d085#fact-drill-facts-2) Maronan · lead #### Identity - Hole ID: MRN26002 - Project: Maronan - Commodity: lead - Region: australia\_qld - Reported Region: australia\_qld - Ticker: MMA #### Geometry - Grade: 15.8 - Grade Unit: % - Intercept: 4.3 m - True Width: 3.7 m - From: 345.7 m - To: 350 m - Intercept Depth: 345.7 m #### Classification - Sample Type: drill - Group ID: MRN26002:345.7-350 - Mining Method: underground #### Location - Location: Eastern Horizon - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: High grade 15.8% lead sub-interval. - Positive factor: High grade sub-interval Evidence · text > including 4.3m \(3.7m etw\) at 15.8% lead and 118g/t silver from 345.7m #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 3.7 **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MRN26002 [Link to this fact](https://atlas-staging.minestarters.com/news/mma-quarterly-activities-appendix-5b-cash-flow-report--42d04c51-7a34-4154-b722-b48e1150d085#fact-drill-facts-3) Maronan · silver #### Identity - Hole ID: MRN26002 - Project: Maronan - Commodity: silver - Region: australia\_qld - Reported Region: australia\_qld - Ticker: MMA #### Geometry - Grade: 118 - Grade Unit: g/t - Intercept: 4.3 m - True Width: 3.7 m - From: 345.7 m - To: 350 m - Intercept Depth: 345.7 m #### Classification - Sample Type: drill - Group ID: MRN26002:345.7-350 - Mining Method: underground #### Location - Location: Eastern Horizon - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: High grade 118g/t silver sub-interval. - Positive factor: High grade sub-interval Evidence · text > including 4.3m \(3.7m etw\) at 15.8% lead and 118g/t silver from 345.7m #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 3.7 **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MRN26008 [Link to this fact](https://atlas-staging.minestarters.com/news/mma-quarterly-activities-appendix-5b-cash-flow-report--42d04c51-7a34-4154-b722-b48e1150d085#fact-drill-facts-4) Maronan · copper #### Identity - Hole ID: MRN26008 - Project: Maronan - Commodity: copper - Region: australia\_qld - Reported Region: australia\_qld - Ticker: MMA #### Geometry - Grade: 0.83 - Grade Unit: % - Intercept: 20 m - True Width: 17.4 m - From: 257 m - To: 277 m - Intercept Depth: 257 m #### Classification - Sample Type: drill - Group ID: MRN26008:257-277 - Mining Method: underground #### Location - Location: Copper-Gold Zone - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: 20m intercept at 0.83% Cu. - Positive factor: Significant width Evidence · text > 20.0 metres \(17.4m etw\) at 0.83% copper and 0.42g/t gold from 257m #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 17.4 **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MRN26008 [Link to this fact](https://atlas-staging.minestarters.com/news/mma-quarterly-activities-appendix-5b-cash-flow-report--42d04c51-7a34-4154-b722-b48e1150d085#fact-drill-facts-5) Maronan · gold #### Identity - Hole ID: MRN26008 - Project: Maronan - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: MMA #### Geometry - Grade: 0.42 - Grade Unit: g/t - Intercept: 20 m - True Width: 17.4 m - From: 257 m - To: 277 m - Intercept Depth: 257 m #### Classification - Sample Type: drill - Group ID: MRN26008:257-277 - Mining Method: underground #### Location - Location: Copper-Gold Zone - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: 20m intercept at 0.42g/t Au. - Positive factor: Significant width Evidence · text > 20.0 metres \(17.4m etw\) at 0.83% copper and 0.42g/t gold from 257m #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 17.4 **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.