Macro Metals Limited (ASX:M4M) Announces Strategic Alliances and Acquisitions
Strategic Alliances and Acquisitions
Macro Metals Limited (ASX:M4M) has entered into a strategic alliance with Paramount Earthmoving Pty Ltd, with Paramount committing a $4 million placement to accelerate Macro’s Mining Services Division. Additionally, Macro has acquired an 80% interest in DSO Manganese assets from Firebird Metals Ltd (ASX:FRB). The company has also formed its first majority Indigenous-owned joint venture, Nyapiri Macro Mining Pty Ltd, focusing on mining services and rehabilitation on Indigenous lands.
Executive Appointments
Paramount’s Managing Director and Founder, Mr Shawn Tilley, has joined Macro’s Board as a Non-Executive Director. Furthermore, the current Executive Technical Director, Mr Robert Jewson, will transition to a Non-Executive Director role effective 1 February 2025, continuing to provide technical input into exploration activities.
Key Partnerships
Macro has entered an agreement with WA Limestone Pty Ltd to utilise mining lease M45/1210 for equipment laydown, product stockpiling, and heavy machinery servicing. A non-binding Memorandum of Understanding with NORDEN Shipping (Australia) Pty Ltd aims to establish a special purpose vehicle to develop transhipping facilities in Western Australia.
Financial Performance
During the December 2024 quarter, Macro issued 12,329,990 fully paid ordinary shares through the exercise of options. The company reported net cash used in operating activities of $2.09 million and net cash from financing activities of $1.17 million. Post quarter, an additional $3.02 million is expected from the Strategic Placement with Paramount.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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