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Maronan Metals Ltd ( (AU:MMA) ) has provided an update.
Maronan Metals Limited has raised approximately $16 million through an institutional placement and plans to raise an additional $3 million via a Share Purchase Plan. However, an application has been submitted alleging undisclosed associations among placement recipients and a joint lead manager, as well as potential manipulation of share prices to facilitate a takeover. The applicant seeks to defer the Share Purchase Plan and amend or cancel the Placement, citing a lack of incentive for retail shareholders due to a drop in share price.
More about Maronan Metals Ltd
Maronan Metals Limited is an ASX-listed mining company that focuses on extracting silver, lead, copper, and gold deposits.
Average Trading Volume: 693,782
Technical Sentiment Signal: Buy
For a thorough assessment of MMA stock, go to TipRanks’ Stock Analysis page.