MIO

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5.6¢ macarthur minerals limited

News: MIO Macarthur Minerals Says Binding Term Sheet With Gold Valley Yilgarn On Right To Mine, page-23

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oldsem

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03/07/24

10:50

Post #: 74583600
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Originally posted by ASXMGU: ↑

Chris commented, that having carefully considered all their options, the assessment confirmed, that the continuity of the Yilgarn operations is not financially viable beyond the end of the 2024 calendar year. As a result, MinRes will cease Yilgarn Hub iron ore shipments by 31 Dec 2024. Chris did point out, the final month would be Jan 2025. So for now until then, it's a wind down operation. He did mention, that Esperence was a bad decision, for exports in terms of costs. They had a good run, 2019 - 2024.

"He also faces the prospect of having his rail fleet sitting idle at the same time it is hit with a hefty rehabilitation bill, after moving to shut iron ore mines in Western Australia’s Yilgarn region. The company said on Thurs, that it was assessing rehabilitation costs and would consider selling rail assets in the wake of mine closures".

SPA with Esperence is in panic mode, but they will take the next 12 months to consider their next step forward.

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In the meanwhile how will MIO survive?
working capital deficit of $1.3 mil at 31/3/2024
GVY to contribute $250.000 !
sell shares in IMI ...today about $450.000
then over next 12 months
future liabilities $600000 directors fees
mining lease exp $1mil +
Brisbane office lease??
cars??
so it goes on......
today shares at 6.8cents ....capital val $11mil ? ???

MIO Price at posting: 6.9¢ Sentiment: None Disclosure: Not Held
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Last 5.6¢		Change -0.002(3.45%)		Mkt cap ! $11.18M

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News: MIO Macarthur Minerals Says Binding Term Sheet With Gold Valley Yilgarn On Right To Mine, page-23

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Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

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News: MIO Macarthur Minerals Says Binding Term Sheet With Gold Valley Yilgarn On Right To Mine, page-23

Top Stories

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