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MACARTHUR MINERALS LIMITED - Corporate Spotlight

International up-and-comer Macarthur Minerals (ASX: MIO, TSX-V: MMS, OTCQB: MMSDF) has... International up-and-comer Macarthur Minerals (ASX: MIO, TSX-V: MMS, OTCQB: MMSDF) has revealed it is targeting 2021 to complete the Feasibility Study on its Lake Giles project. MIO is on a trajectory similarly to what Champion Iron was prior to the completion of the Champion Iron Feasibility Study on their Bloom Lake project in mid-2017.More

Corporate Spotlight

International up-and-comer Macarthur Minerals (ASX: MIO, TSX-V: MMS, OTCQB: MMSDF) has revealed it is targeting 2021 to complete the Feasibility Study on its Lake Giles project. MIO is on a trajectory similarly to what Champion Iron was prior to the completion of the Champion Iron Feasibility Study
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MIO signs binding term sheet with GWR

MIO PROGRESSES INFINITY MINING LISTING

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Macarthur Minerals (ASX:MIO) progresses Infinity Mining listing

ASX News

ASX:MIO
Macarthur Minerals (ASX:MIO) progresses Infinity Mining listing
CEO, Andrew Bruton. Source: Macarthur Minerals

  • Macarthur Minerals (MIO) advises it has received the green light from the ASX to move ahead with its planned Infinity Mining listing
  • The materials stock approached the securities exchange about the proposed admission last month and has now received "in-principle" approval
  • The advice from the ASX allows Macarthur to pursue a pathway towards getting the company's spin off listed via a prospectus
  • The spin off consists of MIO's non-iron Pilbara based assets with plans to also acquire the Central Goldfields assets of Zanil and Alec Pointon

Macarthur Minerals (MIO) advises it has received the green light from the ASX to move ahead with its planned Infinity Mining listing.


In an update to shareholders on Wednesday, the materials stock revealed it had received "in principle" approval from the securities exchange.


MIO first approached the ASX about listing Infinity last month, with the spin off consisting of its Non-Iron Pilbara Assets in Western Australia.


Macarthur said following the advice from the ASX the company would now begin pursuing getting the spin-off listed via a prospectus.


Before it does list, Infinity is planning to acquire the Central Goldfields assets of Zanil and Alec Pointon.


Commenting on today's announcement, MIO Chairman Cameron McCall said he was pleased to have made progress on the listing.


"The Board of Macarthur is excited about the prospect of listing Infinity Mining Limited in Australia and considers that the benefits of doing so will increase opportunities to access capital to advance the Company’s Pilbara and Central Goldfields projects," Mr McCall said.


"An ASX listing for Infinity will remove the funding and resourcing obligations on Macarthur, allowing Macarthur to fully focus on its flagship Lake Giles Iron Project as the company accelerates towards its goal of becoming an iron ore producer."


Read the Full Article on The Market Herald here

MIO TO KEEP PILBARA IRON ORE TENEMENTS

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Macarthur Minerals (ASX:MIO) to keep Pilbara iron ore tenements

Mining

ASX:MIO
Macarthur Minerals (ASX:MIO) - Projects General Manager, Dr Dean Carter - The Market Herald
Projects General Manager, Dr Dean Carter
Source: Macarthur Minerals

  • Macarthur Minerals (MIO) will keep its Pilbara iron ore tenements through a tenement transfer agreement with its subsidiary Infinity Mining, which is aiming to list on the ASX
  • The agreement will see Macarthur keep its iron ore tenements in the Pilbara region, but Infinity will keep the non-iron ore rights in the Pilbara tenements
  • Further details on the tenement transfer are currently being planned, but the deal is expected to be completed prior to Infinity's listing

Macarthur Minerals (MIO) will keep its Pilbara iron ore tenements through an intra-group tenement transfer agreement.


MIO's subsidiary, Infinity Mining, is planning to list on the ASX.


The transfer agreement will see Macarthur keep its iron ore tenements in the Pilbara region, but Infinity will keep the non-iron ore rights in the Pilbara tenements.


Notably, the tenements are also prospective for copper, gold, nickel and lithium.


Further details on the tenement transfer are currently being planned but the deal is expected to be completed prior to Infinity's listing.


This deal will preserve Macarthur's ability to pursue a future iron ore extension strategy in the Pilbara, with the potential to grow future value beyond the company's Lake Giles Iron Project.


The tenements in the deal include Strelley Gorge and Tambourah, together having a combined area of around 616 square kilometres.


"Macarthur will seek to transact with a partner on the Pilbara tenements to enable it to maintain its current focus and resources on the development of its flagship Lake Giles hematite and magnetite projects," the company said.


Read the Full Article on The Market Herald here

MIO STRENGTHENS DSO POSITION IN WA

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Macarthur Minerals (ASX:MIO) strengthens DSO position in WA

Mining

ASX:MIO
Macarthur Minerals (ASX:MIO) - CEO, Andrew Bruton - The Market Herald
CEO, Andrew Bruton
Source: Macarthur Minerals

  • Macarthur Minerals (MIO) strengthens its direct shipment ore (DSO) position in the Yilgarn Region of Western Australia
  • The company has signed an additional rail haulage deal with Aurizon for the transport of iron ore at a rate of up to 500,000 tonnes per annum
  • However, the contract is subject to conditions such as securing matching capacity at Fremantle and Esperance ports
  • Macarthur's potential access to rail haulage capacity in Western Australis has expanded to almost one million tonnes over the next 12 months

Macarthur Minerals (MIO) has strengthened its direct shipment ore (DSO) position in the Yilgarn Region.


The company has signed an additional rail haulage deal with Aurizon for the transport of iron ore at a rate of up to 500,000 tonnes per annum between West Kalgoorlie and Kwinana.


However, the contract is subject to conditions such as securing matching capacity at Fremantle and Esperance ports.


Macarthur's potential access to rail haulage capacity in Western Australis has expanded to almost one million tonnes over the next 12 months and up to 2.1 million tonnes over four years.


CEO Andrew Bruton is pleased with the new contract.


"This agreement has the potential to increase Macarthur’s overall access to rail haulage capacity and enhances the foundations for the company’s ambitions to commence iron ore exports as soon as possible," he said.


"It is another pleasing step towards realising our objective to transition to revenue generating activities and Macarthur is delighted to be partnering with Aurizon.


"With continued diligence, resolve and respectful engagement with key stakeholders, we remain very optimistic that it is now not a matter of if, but when, the company will finally conclude the balance of the necessary arrangements that will enable it to commence moving and exporting iron ore products."


Read the Full Article on The Market Herald here

MIO ADVANCES DRILLING

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Macarthur Minerals (ASX:MIO) advances drilling as feasibility study nears completion

Mining

ASX:MIO
Macarthur Minerals (ASX:MIO) retains 100pc interest in Pilbara projects
The entrance to the Lake Giles mining camp. Source: Macarthur Minerals

  • Macarthur Minerals (MIO) carries out drilling at its Moonshine pits as it closes in on completing its feasibility study for Lake Giles Iron Project
  • The eight-hole program will support the phase two mine planning work, with phase one already completed, ahead of the study delivery this year
  • MIO's lead consultant Stantec is also carrying out metallurgical testwork, with sample testing underway in Perth
  • The results from the tests will help complete the process flow sheet engineering design work for a metallurgical process plant design

Macarthur Minerals (MIO) is carrying out drilling at its Moonshine pits, as it closes in on completing its feasibility study for Lake Giles Iron Project.


The eight-hole geotechnical drill program at Moonshine and Moonshine North will support the phase two mine planning work.


Phase one mine planning has already been completed, ahead of the study being completed for MIO's flagship project in WA at the end of 2021.


The company's lead consultant Stantec was also carrying out metallurgical test work, with sample testing underway in Perth.


The results from the tests will help complete the process flow sheet engineering design work for a metallurgical process plant design that will deliver high grade over 65 per cent iron magnetite concentrate.


Commenting on the work, MIO CEO Andrew Bruton said it was pleasing to see the study progress.


"Following the onset of the Global Covid-19 pandemic early last year and throughout the balance of 2020, the company has been steadily progressing the foundational work required to underpin the delivery of the study," Mr Bruton said.


"The feasibility study is on track for delivery this year, and with the combined technical capabilities and experience of Stantec’s team lead by Neville Dowson and Macarthur’s highly experienced metallurgical consultant Dr Richard Peck and mining engineer Bernard Holtshousen, the company has high expectations, and an equally high level of confidence, that the study will meet the expectations of the market."


Read the Full Article on The Market Herald here

MIO TO GRAB GWR GROUP'S DSO IN DEAL

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Macarthur Minerals (ASX:MIO) to grab GWR Group’s (ASX:GWR) DSO in partnership deal

Materials

ASX:MIO
GWR Group (ASX:GWR) - - The Market Herald
Source: GWR Group

  • Macarthur Minerals (MIO) partners with GWR Group (GWR) for supply of Direct Shipment Ore (DSO) from GWR’s Wiluna West Iron Ore Project in WA
  • An initial two-year binding term sheet would see Macarthur purchase 400,000 tonnes per annum of DSO lump and fines products from GWR
  • The sale price is expected to reflect an equitable split of the realised sale price on a 'free on board' basis at the ship rail, incorporating transport costs
  • This deal follows MIO's recent rail capacity agreement with Pacific National for 400,000 tonnes p/a on the Kalgoorlie to Esperance rail line

Macarthur Minerals (MIO) has partnered with GWR Group (GWR) for the supply of Direct Shipment Ore (DSO) from GWR’s Wiluna West Iron Ore Project in Western Australia.


Through an initial two-year binding term sheet, Macathur plans to purchase up to 400,000 tonnes per annum of DSO lump and fines products from GWR.


The sale price is expected to reflect an equitable split of the realised sale price on a 'free on board' basis at the ship rail, incorporating Macarthur’s costs to transport the product, which the company says will be disclosed on an open book basis between the parties.


This latest agreement follows MIOs announcement earlier this month that it had secured a 400,000 tonnes per annum rail capacity along the line between Kalgoorlie and Esperance, through a term sheet agreement with rail haulage provider, Pacific National.


This deal supports a potential DSO export pathway and, in conjunction with the GWR deal, could potentially see Macarthur undertaking transport of a GWR DSO product as early as January 2022.


MIO said the arrangement had the potential to facilitate early revenue flows between now and the commencement of commercial mining operations for DSO at its Ularring mine.


Further, the company hopes the characteristics of the GWR product will enable the creation of a physical or virtual DSO blend utilising DSO from Ularring, which could improve pricing moving forward.


The ore from Ularring is contracted for sale to Glencore under an existing offtake agreement entered into in 2019.


Non-executive Chairman of GWR Gary Lyons said the company was excited to be developing its relationship with Macarthur. Mr Lyons said he believed the deal provided an opportunity to increase tonnage without impacting current operations.


"Having taken our flagship high-grade C4 Iron Ore deposit into production earlier this year, with this agreement the future looks very bright for Macarthur Minerals to enter the ranks in the near term of ASX Iron Ore producer," he said.


The term sheet is subject to the parties entering into a definitive agreement following completion of the balance of the route to market arrangements by Macarthur on a basis that is commercially acceptable to both parties.


Read the Full Article on The Market Herald here

MIO APPLIES FOR ADDITIONAL TENURE

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Macarthur Minerals (ASX:MIO) applies for additional Lake Giles tenure

Mining

ASX:MIO
Macarthur Minerals (ASX:MIO) allows Eyeon Investments to convert notes to shares
Source: Macarthur Minerals

  • Macarthur Minerals (MIO) applies for tenure over an area adjacent to its Lake Giles Iron Project in WA's Great Southern region
  • MIO says the miscellaneous licence will give it access to another 74 hectares of land which lies adjacent to the company's Snark deposit
  • The materials stock will use the extra land to support its non-process infrastructure for the direct-shipping iron ore (DSO) campaign
  • This includes placing vehicle workshops, water storage, site offices, fuel supply, product stockpiling and loadout facilities on the tenure

Macarthur Minerals (MIO) has applied for tenure over an area adjacent to its Lake Giles Iron Project.


The flagship project lies in WA's Great Southern region and includes the Ularring Hematite and Lake Gilkes magnetite resources.


MIO said on Tuesday the additional 74 hectares of land lies adjacent to the company's Snark deposit, which was located in Ularring.


The company plans to use the additional land to help support the non-process infrastructure needed for the initial direct-shipping iron ore (DSO) campaign which involves both the Snark and Drabble Down deposits being mined.


MIO said the infrastructure needed would include setting up a mining operations centre which in turn can host vehicle workshops, water storage, site offices, and fuel supply, product stockpiling and loadout facilities.


Commenting on the new tenure application, MIO CEO Andrew Bruton said it was a key component to advancing the DSO campaign.


"Macarthur continues to advance mine and transport planning for a DSO mining operation at Ularring," Mr Bruton said.


"This tenure application is another important step towards that objective. The earliest commencement of revenue generating activities remains one of the company’s key priorities.


"With a clear view of the transport logistics challenges that are always evident in a heated commodity market, management has been taking time over the last several months to ensure that this objective can be optimised in its delivery, to enable the company to take advantage of current iron ore prices."


Read the Full Article on The Market Herald here

MIO SIGN COOPERATION DEAL WITH JIN SUNG

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Macarthur Minerals (ASX:MIO) signs cooperation deal with Jin Sung


  • Macarthur Minerals (MIO) signs a cooperation deal with Singapore-based conglomerate, Jin Sung International

  • The diversified producer is exploring a potential strategic equity investment in Macarthur Minerals' iron ore and non-iron ore assets

  • The deal also involves continued investment discussions between Jin Sung and Macarthur's subsidiary, Infinity Mining, regarding MIO's Australian non-iron ore assets

  • Macarthur Minerals' CEO Andrew Bruton says he's pleased to partner with Jin Sung on a mutually beneficial investment as MIO continues to transition into production


Macarthur Minerals (MIO) has signed a cooperation deal with Singapore-based conglomerate, Jin Sung International.

Under this new, non-binding agreement, Jin Sung will explore the potential of bringing Macarthur's iron ore and battery minerals into its diverse investment portfolio.

Jin Sung is a large, diversified producer of construction products and is also involved in procuring and trading coal, clinker, aggregate, molybdenum concentrate, copper cathodes, and gold and silver.

While the company is headquartered in Singapore, its operations are focused in Southeast Asia and include Korea, Malaysia, Indonesia, Vietnam, Myanmar and Bangladesh.

"We are very glad to have established a long-term perspective ‘win-win’ partnership with Macarthur Minerals through the signing ceremony for the cooperation agreement, and we look forward to deepening our strategic relationship with them," Jin Sung Director Jung Sung Chung said.

The companies will advance discussions on a potential strategic equity investment in Macarthur Minerals' iron ore and non-iron ore assets. The deal also supports continued investment discussions between Jin Sung and Macarthur's subsidiary, Infinity Mining, regarding MIO's non-iron ore assets in Australia.

Macarthur recently announced it's planning to spin-out its Pilbara-based gold and copper assets into Infinity Mining who already holds all of the company's lithium, gold and copper tenements. Macarthur will then list the subsidiary on the ASX later this year.

"Macarthur is very pleased to be cooperating with Jin Sung. We look forward to building a strategic relationship with them into the future and to working with them on a mutually beneficial investment as the company’s exciting transition into production continues," Macarthur Minerals CEO Andrew Bruton said.

See Full Article Here. 

MIO CEO ANDREW BRUTON ON WA COUNTRY HOUR

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Macarthur Minerals - ABC WA Country Hour 

https://www.abc.net.au/radio/programs/wa-country-hour/wa-country-hour/13364986  (Starts at 18:45) 



MIO TEAM UP W/ HYDROGEN BATTERY PRODUCER

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Macarthur Minerals (ASX:MIO) teams up with hydrogen battery producer

Mining

ASX:MIO
Macarthur Minerals (ASX:MIO) - CEO Andrew Bruton - The Market Herald
CEO Andrew Bruton
Source: The Market Herald

  • Macarthur Minerals (MIO) has signed a deal with LAVO Hydrogen Technology to investigate the use of hydrogen power at the Lake Giles Iron Project
  • LAVO creates hydrogen battery systems, which essentially create hydrogen from water, before converting it into power and generating electricity
  • Under the strategic partnership and collaboration agreement, MIO will use up to five LAVO storage units at its worker accommodation facilities
  • The remote facilities are being constructed to support Macarthur's direct shipping ore (DSO) mining operation near Lake Giles in WA
  • If all goes to plan, LAVO may then supply additional hydrogen power operations for MIO's wider Lake Giles mining project

Macarthur Minerals (MIO) has signed a deal with LAVO Hydrogen Technology to investigate the use of hydrogen power at the Lake Giles Iron Project.


LAVO creates hydrogen battery systems, which essentially create hydrogen from water, before converting it into power and generating electricity.


The clean energy business uses its patented metal hydride to store the hydrogen in its battery systems, which has the backing of the University of New South Wales and Providence Asset Group.


Under its strategic partnership and collaboration agreement with MIO, LAVO will supply up to five 40 kWh hydrogen storage units for Macarthur's worker accommodation facilities in WA.


These remote facilities are being constructed to support Macarthur's direct shipping ore (DSO) mining operation near Lake Giles and the storage units could be brought on-site as early as Q4.


If all goes to plan, LAVO may then supply additional hydrogen power operations for MIO's wider Lake Giles mining project.


The two companies will work together to create a fully localised micro-grid engineering solution that includes a hydrogen storage system and fuel cell.


"The first stage of the agreement will allow Macarthur to work with LAVO in the early stages of project planning at Ularring for DSO so that we can examine opportunities for the scale-up of an integrated hydrogen energy technology solution on-site at Moonshine for the magnetite," MIO CEO Andrew Bruton said.


"This collaboration is also aimed at enabling Macarthur to achieve a clear carbon reduction strategy for its planned future magnetite operations at Moonshine, as it can allow for potential integration with magnetite processing on a modularised and gradual ‘scale-up’ basis over a target 5 to 10-year time horizon."


Read the Full Article on The Market Herald here

MIO SPIKES AS IT KICKS OFF WA MINE PLAN

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Macarthur Minerals (ASX:MIO) spikes as it kicks off WA mine planning work

Mining

ASX:MIO
Macarthur Minerals (ASX:MIO) - CEO, Andrew Bruton - The Market Herald
CEO, Andrew Bruton
Source: The Market HeralD

  • Iron ore miner Macarthur Minerals (MIO) has surged on the ASX today after kicking off mine planning work at its Lake Giles project in WA
  • The dual-listed business is taking advantage of strong iron ore prices to develop a mine plan for a direct shipment ore (DSO) product from the Ularring Hematite Project
  • The planned mining campaign will target the Snark and Drabble Downs deposits in the area, with planning to be completed before the end of June
  • Macarthur then plans to lodge a mining proposal during the September quarter of this year
  • The company plans to develop a simple, low-cost DSO operation that will use mobile crushing and screening equipment
  • Importantly, Macarthur said this approach will not diminish the potential for a beneficiated sinter fines product, as outlined in a 2012 feasibility study
  • The company has kicked off talks with haulage contractors and found some important rail and export options using existing regional infrastructure

Iron ore miner Macarthur Minerals (MIO) has surged on the ASX today after announced it has kicked off mine planning work at its Lake Giles project in WA.


The dual-listed company, which also trades on the TSX Ventures Exchange under the ticker MMS, is taking advantage of strong iron ore prices and preparing a mine plan for a direct shipment ore (DSO) product at the Ularring Hematite Project, which is part of Lake Giles.


The planned mining campaign will initially target the Snark and Drabble Downs deposits in the project area.


Macarthur told shareholders this morning it plans to complete its mine planning work before the end of June, with a mining proposal to be lodged during the September quarter of this year.


Capitilising on strong prices


Macarthur completed a pre-feasibility study for the Ularring project back in 2012 that included "beneficiation of low-grade iron mineralisation", according to the company.


However, Macarthur said given the current strength of the global iron ore market, management decided there is scope for the company to develop a simple DSO operation that will use mobile crushing and screening equipment.


As such, the mine planning work will be based on this idea and designed for rapid development and low-cost operations.


Importantly, Macarthur said this low-cost approach will not diminish the potential for a beneficiated sinter fines product, as was originally outlined in the 2012 feasibility study.


The mine planning work to be completed ahead of the mining proposal will include project optimisation, mine design and layout, mine cost estimation and more.


"Iron ore is experiencing one of the largest price surges in decades, and our shareholders have been eagerly anticipating the company's advancement of early hematite mining operations at Ularring," Macarthur CEO Andrew Bruton said.


"The current market has presented both opportunities and challenges for the last several months as the company navigates an increase in competitive demand for transport infrastructure and port access," he said.


The company explained that the Snark and Drabble Downs deposits lie near the Evanston-Menzies road in WA, which provides direct access to sealed highways leading to both the Port of Geraldton and the Port of Esperance.


As such, Macarthur has kicked off talks with haulage contractors and found some important rail and export options using existing regional infrastructure.


"We are pleased to finally provide the market with the details of the next step towards this much anticipated corporate milestone being completed, and I look forward to keeping investors informed of the exciting developments along the pathway towards achieving our first shipment of iron ore," Andrew said.


Read the Full Article on The Market Herald here

MIO PRIMED TO RIDE GREEN IRON ORE WAVE

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Macarthur Minerals (ASX:MIO) primed to ride “green iron ore” wave

Mining

ASX:MIO    MCAP $79.45M
Macarthur Minerals (ASX:MIO) - Projects General Manager, Dr Dean Carter - The Market Herald
Projects General Manager, Dr Dean Carter
Source: Macarthur Minerals


  • Macarthur Minerals (MIO) says it's in "pole position" to become a major iron ore producer with its Lake Giles Iron Project in Western Australia
  • Throughout 2020, the primary focus has been on defining a measured resource for the project, as well as finalising a transport solution to deliver the company's high-grade magnetite product
  • According to recent data, the Kalgoorlie-Esperance rail network is currently under-utilised, which offers Macarthur the opportunity to make use of the unused capacity
  • With a number of recently completed financings, the company is now looking to formalise infrastructure partner ships for the Lake Giles Project and and begin commercial production of the hematite resource at its Ularring site
  • Shares in Macarthur Minerals are down 4.35 per cent and trading at 55 cents

Macarthur Minerals (MIO) says it's in "pole position" to become a major iron ore producer with its Lake Giles Iron Project in Western Australia.


Over the course of this year, the company has been primarily focused on defining a measured resource for the project - which hosts the Ularring and Moonshine resources - along with the completion of the supporting technical report.


A key focus has also been on finalising a transport solution to deliver Macarthur's high-grade magnetite product to market. 

Central to this is the Kalgoorlie-Esperance rail network, which is currently under-utilised compared to earlier run rates, allowing for sufficient capacity to handle the company's initial yearly output of 3.3 million tonnes of iron ore products.


Current iron ore exports through the Port of Esperance is also below capacity. The 2020 financial year saw just over 7.3 million tonnes shipped, which Macarthur said provides a variety of potential options for rail unloading, storage and ship loading solutions.


Read the full article on The Market Herald

MIO LINES UP FINANCING FOR LAKE GILES

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Macarthur Minerals (ASX:MIO) lines up financing package to support work at Lake Giles

Mining

ASX:MIO    MCAP $77.99M 
Source: Macarthur Minerals


  • Macarthur Minerals (MMS) is looking to raise approximately $6.25 million to fund ongoing work at its Lake Giles Project in Western Australia
  • The company intends to issue around 11.36 million units at 55 cents each — comprising one share and one option to acquire an additional share at 90 cents
  • A standby equity facility agreement has also been signed with L1 Capital Global Opportunities Master Fund, which will provide a further $20 million in financing
  • The company is currently approaching a new phase of negotiations to deliver a feasibility study for the Lake Giles Project
  • Shares in Macarthur Minerals are grey this morning and last traded for 62 cents per share on October 8

Macarthur Minerals (ASX:MIO) is looking to raise approximately $6.25 million to fund ongoing work at its Lake Giles Project in Western Australia.


Under the terms of the placement, which will be completed in two tranches and has already received firm commitments from sophisticated and institutional investors, the iron ore-focused company intends to issue 11,362,629 units at $0.55 each.


These units will consist of one new share in Macarthur Minerals and one option to acquire an additional share at a price of $0.90, exercisable within 24 months.


The price of the new shares represents a 7.08 per cent discount compared to the company's 30-day volume weighted average price on the ASX as of October 7.


An initial tranche will consist of all the new shares and 5,137,371 options, while a second tranche is expected to close on November 2 and will consist of the remaining 6,225,258 options, pending shareholder approval.


The approval for the second tranche will be sought at Macarthur's upcoming Annual General Meeting on October 30.

It's anticipated that the majority of the proceeds will be used for working capital purposes while the company progresses the completion of a Feasibility Study for the Lake Giles Project, located in the prolific Yilgarn region.


Cameron McCall, President and Executive Chairman of Macarthur Minerals, said the level of interest in the placement is a strong endorsement for the company.


"With iron ore prices continuing to defy broader global impacts from the COVID-19 pandemic, investor demand in the placement demonstrates market confidence continues to build around Macarthur and its ability to deliver the Lake Giles Iron Project for shareholders," he added.


In addition to the placement, Macarthur has also signed a standby equity agreement with L1 Capital Global Opportunities Master Fund, which will provide a further $20 million in financing.


Over a 36-month period, the company will be able to issue shares to L1 Capital – at its own discretion and based on certain conditions – in exchange for additional funds.


"Bolstering the company’s balance sheet places the company on a strong footing and positions Macarthur well as it moves through the next critical phases of project delivery and as it targets simultaneous completion of the main project financing strategy for the Lake Giles Iron Project with EAS Advisers," Cameron concluded.


Read the full article on The Market Herald

IS MIO THE NEXT CIA?

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VIDEO

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Macarthur Minerals (ASX:MIO) signs binding term sheet with Golden West Resources (ASX:GWR) for mine-gate purchase agreement of up to 400ktpa DSO


CEO Andrew Bruton Explains MIO's Recent Logistics Wins - TMH Live


Macarthur Minerals Signs MOU With Southern Port Authority 



Macarthur Minerals new CEO Andrew Bruton reflects on the year in review, and looks forward to a busy 2021 - The Market Herald, December 2020


MACARTHUR LEADERSHIP TEAM APPOINTMENTS TO GUIDE COMPANY INTO 2021, The Market Herald December 2020



Macarthur Minerals discuss Finance Package with The Market Herald Dealroom - October 2020



Macarthur Minerals Successfully re-lists on the OTCQB Markets - The Market Herald Live News - September 2020





MIO Edward Sugar – EAS Advisors - September 2020



Investor Updates with Andrew Bruton, GM Macarthur Minerals - Updating mineral resources and projects in WA - August 2020




Macarthur Minerals on The Market Herald Live: Updates mineral resource at Lake Giles - August 2020





Investor Updates with Joe Phillips, CEO Macarthur Minerals - July 





The Market Herald Live Bulletin - July 2020


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