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Red Metal (ASX:RDM) to spin out Maronan Project through $36M subsidiary IPO SubscribeBe the first with the news that moves the market Red Metal (RDM) has unveiled a plan to spin out its Maronan Project through the listing on the ASX of its wholly owned subsidiary Maronan Metals The IPO will seek to raise up to $36 million, which will be used by Maronan Metals to fund resource drilling and feasibility programs Red Metal will retain a roughly 50 per cent holding in Maronan Metals and will appoint two representatives to Maronan s board With more than 100 million ounces of contained silver, the Maronan Project is considered one of the largest undeveloped silver resources in Australia ....