Mining

The constraint is funding. Its Appendix 5B for the September quarter, released on 29 October 2026, shows cash of A$215,000 and an estimated 0.82 quarters of funding even after counting an undrawn A$700,000LoanFacilityfrom its managing director. Shareholders will vote at the 17 November 2026Annual …

The company has the cash to keep bothOptionsopen for now. According to its Appendix 5B released on 29 October 2026, M3 Mining held $1.368 million at 30 September after a net operating outflow of $193,000, equal to about 7.09 quarters of funding at that …

This matters because the September quarterCash Flowreport showed less than one quarter of funding before the raising. The new shares came with free options, which adds dilution.

The question for the company is funding that next phase. According to its September quarter Appendix 5B, released on 30 October 2026, Moho held $738,000 in cash at 30 September and estimated 0.914 quarters of funding available. It said it had not yet taken …

That leaves Moab's next steps on Manyoni, including metallurgical testwork and drilling, explicitly dependent on funding. TheAnnual General Meetingon 30 November 2026 will also vote on shares to pay for recently acquired tenements.

The September quarter report, released on 29 October 2026, shows that strategy in practice. Marquee carried out a short first drilling programme at Yindi and surface sampling at West Spargoville. It also received a $549,122 R&D tax refund. Even so, cash remains limited. The …

The key point for shareholders is that most of that ground is not yet held. Eighteen of the tenements are applications pending grant and the East Scotia acquisition had not completed at quarter end, so the headline area depends on approvals and a transaction …