Please support me in this fundraiser for my legal action. I have now heard that the opposition intends to hire expensive counsels to oppose me in court.
Continue legal action against Maronan Metals
Continue legal action against the ASX company Maronan Metals to find out the real owners, uncover who has been suppressing the price and investigate potential insider trading related to the broker."
Maronan Metals (ASX : MMA) is a future tier 1 lead/silver mine. Maronan directors are marketing it as a takeover target. While they market it as such, I am concerned that accounts related to the Maronan broker have been controlling the price to keep it artificially low. Maronan shareholders would like to see a higher share price which accurately values the company. I also would like to see the company deliver profits into the future for Maronan shareholders, thus I do not see the benefit of being taken over at a low share price.
My legal action to obtain documents from Maronan was filed in the Federal Court on Tuesday May 20, 2025.
I believe shareholders from many ASX resource companies will be supportive of my legal case.
In this Australia first, I am applying to discover,
a. Any documents recording the identity of members or former members or changes in share ownership.
b. All documents relating to trading in Maronan’s shares during the period leading up to the capital raise (1 April 2024 to 31 May 2024), and during the period 1 March 2025 to 15 May 2025. This category includes any internal reports, analyses, communications, or data reflecting or investigating trading patterns or share price movements in those periods, and in particular any records concerning unusual or coordinated trading activity designed to exert downward pressure on the share price.
c. Any reports, memoranda, correspondence, or other documents prepared by or for Maronan concerning share trading in Maronan’s securities by any of the following persons related to Maronan’s broker.
d. Capital Raising Documents (May 2024 Placement) – all documents relating to Maronan’s placement and share purchase plan announced on 16 May 2024.
e. Documents concerning Beneficial Ownership – any documents recording or evidencing the identity of the ultimate beneficial owner(s) of shares in the Respondent that were registered in the name of Zero Nominees Pty Ltd or UBS Nominees Pty Ltd or BNP Paribas Nominees Pty Ltd or Citicorp Nominees Pty Ltd;
g. Rocklands Transaction Documents – all documents relating to any proposal, offer or bid by Maronan to acquire the Rocklands mining project or related assets.
This action to date has been funded with the generous support of my fellow shareholders in Maronan. I expect that Maronan will fight the application, and I seek to raise further funds to ensure that I can continue the case. I truly believe that this could mark the beginning point where honesty and transparency can prevail on the ASX.