Macro Metals forms strategic alliance

Macro Metals (ASX:M4M) has announced a strategic alliance with Paramount Earthmoving Pty Ltd. This involves a $4 million placement designed to accelerate Macro's Mining Services Division. Following the placement, Paramount will become Macro's largest shareholder with a 10% stake. Shawn Tilley, Paramount's Managing Director and Founder, will join Macro as a Non-Executive Director.

Overview of strategic partnership

Macro Metals has formed a strategic partnership with Paramount Earthmoving, involving a $4 million investment that will make Paramount the largest shareholder. This alliance is set to enhance Macro's capacity to bid for and secure contracts, supported by favorable equipment rental terms from Paramount. The funds raised will accelerate business development, prepare the company for upcoming contracts, and support general working capital. The placement will settle in four tranches between December 2024 and February 2025. This partnership is expected to strengthen Macro's position in the mining services industry and provide long-term benefits for both companies.

Insight from Macro Metals

We are delighted to partner with Paramount Earthmoving, which is a rapidly growing equipment hire company in Western Australia. This strategic alliance will provide Macro Metals with a competitive edge in the mining services sector through favorable commercial terms on equipment rentals.