- Macarthur Minerals (MIO) has updated its mineral resource estimate for its magnetite deposits at the Lake Giles Iron Project in Western Australia
- The update is significant, as previous estimates — presented between 2009 and 2019 — consisted entirely of inferred resources
- The mineral resource is now estimated to include a measured mineral resource of approximately 53.9 million tonnes and an indicated mineral resource of 218.7 million tonnes
- The upgrades mean roughly 30 per cent of the Moonshine resource is now in the indicated category, while around 7.5 per cent is labelled as measured
- Now, Macarthur has sufficient resources to progress its feasibility study
- Last month, Macarthur received a key proposal for its planned rail link for Lake Giles
- Company shares are up 16 per cent on the market today, trading for 29 cents per share
Wheres can this UPI article be found that everyone keeps referring to??
The Drudge report times out.