M2R.AX stock down 11.11% to A$0.004 on ASX 26 Feb 2026: watch liquidity risk

The M2R.AX stock fell 11.11% to A$0.004 at market close on 26 Feb 2026 on the ASX in Australia. Trading volume reached 5,834,366 shares, close to the 30‑day average, as investors reacted to thin liquidity and continued losses. We break down valuation, cash metrics and near-term risks for Miramar Resources Limited (M2R.AX stock) in the Basic Materials sector.