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MACARTHUR MINERALS LIMITED - Corporate Spotlight

Macarthur Minerals is a multi listed (ASX: MIO, TSX-V: MMS, OTCQB: MMSDF) iron ore... Macarthur Minerals is a multi listed (ASX: MIO, TSX-V: MMS, OTCQB: MMSDF) iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project includes the 80 million tonne Ularring hematite resource (approved for development) and the 710 million tonne Moonshine magnetite resource.More

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Corporate Spotlight

Macarthur Minerals is a multi listed (ASX: MIO, TSX-V: MMS, OTCQB: MMSDF) iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project includes the 80 million tonne Ularring hematite resource
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MIO Market Updates with Andrew and Joe - Dec

VIDEO

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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


MIO closes $6.25M placement

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Macarthur Minerals (ASX:MIO) closes $6.25M placement

Mining

ASX:MIO    MCAP $76.09M

  • Macarthur Minerals (MIO) has closed its previously announced placement, securing subscriptions for almost $6.25 million
  • The company issued a total of 11,362,618 units at $0.55 each, comprised of one share and one share purchase warrant
  • Each warrant will be exercisable at a price of $0.90 per share for a period of 24 months
  • The proceeds will be used to advance a feasibility study for the Lake Giles Iron Project in Western Australia, while discussions for a main round of project financing progress
  • Shares in Macarthur Minerals are steady at Monday's open, worth 60 cents per share

Macarthur Minerals (ASX:MIO) has closed its previously announced placement, securing subscriptions for almost $6.25 million.


Under the terms of the offer, which was unveiled on October 13, the iron ore developer issued a total of 11,362,618 units at a price of $0.55 each. These units are comprised of one share in Macarthur and one share purchase warrant.


Each warrant entitles the holder to acquire an additional share in the company at a price of $0.90, exercisable over a period of 24 months from the date of issuance.


11,362,618 of the new shares and 5,137,382 of the warrants will be issued to subscribers upon final approval of the placement, while the remaining 6,225,236 will be issued subject to shareholder approval, which will be sought at Macarthur's upcoming Annual General Meeting on October 30.


With the offering now closed, the company will have a total of 136,961,963 common shares issued and outstanding.

Macarthur says the proceeds will be used to advance a feasibility study for its Lake Giles Iron Project, located in the Yilgarn region of Western Australia, while discussions regarding a main round of project financing progress.


Cameron McCall, President and Executive Chairman of Macarthur Minerals, said earlier this month that the additional capital "places the company on a strong footing and positions Macarthur well as it moves through the next critical phases of project delivery."


"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.


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

MIO VISITS ESPERANCE LAKE GILES

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Macarthur Minerals (ASX:MIO) visits Esperance for Lake Giles transport solution

Materials

ASX:MIO    MCAP $72.42M 
Macarthur Minerals (ASX:MIO) - Dr Dean Carter, Projects General Manager (centre) - The Market Herald
Dr Dean Carter, Projects General Manager (centre)
Source: Macarthur Minerals


  • Macarthur Minerals (MIO) and RCR Mining Technologies (RCR MT) have toured the Port of Esperance, the location of a planned rail transport and unloading solution
  • Macarthur appointed RCR MT to design a solution for its flagship Lake Giles Iron Project, so it can progress to market
  • The recent visit with Southern Ports has strengthened MIO' belief the new rail technology would be extremely beneficial for itself and Esperance Port
  • In particular, Macarthur believes its proposed transport solution would increase unloading capabilities and open up new business opportunities for the Port
  • While the specialist rail carts designed by Kiruna Wagons could be manufactured by RCR here in Australia, opening up job opportunities
  • Shares in the company are trading up 32 per cent, following its note holding conversion announcement
  • MIO shares are currently worth 65 cents per share

Macarthur Minerals (MIO) and RCR Mining Technologies (RCR MT) have recently toured the Port of Esperance, the location of its planned transport solution for its high-grade magnetite from the Lake Giles Project


Macarthur recently appointed RCR MT to design a rail transport and unloading infrastructure solution for its flagship Lake Giles Project in WA, to bring the product to market through the Port.


RCR MT, a subsidiary of NRW (NWH), owns the exclusive rights in Australia for the Helix Dumper unloading system and wagons, which optimise transport of magnetite over conventional methods.


Members from the project leadership teams at both RCR MT and Macarthur travelled to Esperance last week to tour the existing infrastructure at the Port there, and to continue discussions with Southern Ports about developing the Helix Dumper at the Port.


Macarthur's General Manager of Projects, Dean Carter, said the discussions with Port Authorities went extremely well and the overall visit was positively received by all involved.


He also said the company walked away from last week's visit with a renewed belief the solution would be extremely viable for both MIO and Esperance Port.


In particular, Macarthur said RCR MT's proposed unloading infrastructure solution would double the Port's current capabilities and open up new business opportunities for the Port of Esperance.


While RCR MT's exclusive Helix technology, which has successfully been used in Scandinavian magnetite operations, could be manufactured in Australia - opening up local job opportunities.


Following the site visit, the next step for the project involves RCR MT completing its engineering design report.

The report is expected to be finalised in the coming weeks, at which point Macarthur will begin negotiating with Southern Ports for the necessary allocation of land areas for the development.


"Completing these negotiations with Southern Ports Authority is the last domino to finalise Macarthur’s route to market for its Lake Giles Iron Project, after which we hope to build upon our good relationship with the Port and transition into a long-term partnership with them as a valued customer," Dean said.


Meantime in related news, shares in MIO ended yesterday's trading session up 30 per cent, following the company's note holding conversion announcement.


Shares in Macarthur Minerals are now trading for 65 cents each at the open of the market on September 3.


Read the full article on The Market Herald here: https://themarketherald.com.au/macarthur-minerals-asxmio-visits-esperance-for-lake-giles-transport-solution-2020-09-03/

EYEON INVESTMENTS TO CONVERT NOTES

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

Mining

ASX:MIO    MCAP $55.71M  
Macarthur Minerals (ASX:MIO) allows Eyeon Investments to convert notes to shares
Source: Macarthur Minerals


  • Macarthur Minerals (MIO) is up 37 per cent on the market this morning after the board allowed Eyeon Investments to convert its notes into shares
  • Eyeon will convert 20 notes — with gross proceeds totalling US$800,000 (approximately A$1 million) — into more than 2.6 million ordinary shares
  • Last month, the company reflected on a busy second quarter as it progresses its Lake Giles Iron Project in Western Australia
  • Macarthur said in the recap its main focus will remain on delivering a high-grade, low-impurity magnetite fines product at Lake Giles
  • Company shares up 37 per cent on the market this morning and is trading for 68.5 cents per share

Macarthur Minerals (MIO) is up 37 per cent on the market this morning after Eyeon Investments converted its noteholding into shares.


The board of Macarthur approved Eyeon's request to convert 20 notes — with gross proceeds totalling US$800,000 (approximately A$1 million) — into more than 2.6 million ordinary shares.


The conversion price is equal to around C$0.40 (roughly A$0.42) per share.


Last month, the company reflected on a busy second quarter as it progresses its Lake Giles Iron Project in Western Australia

Macarthur said in the recap its main focus will remain on delivering a high-grade, low-impurity magnetite fines product at Lake Giles, which will target the Asian steel mills.


"Lake Giles will aim to be very much at the fore of a new global iron ore future that values more sustainable steel products that are derived from responsible mining practices, with the highest focus on safety and with a commitment to respecting the environment and indigenous interests," Executive Chairman Cameron McCall said in August.


Significantly, the price of iron ore has continued to remain strong during this quarter, despite the global COVID-19 pandemic.


Macarthur is up 37 per cent on the market this morning and is trading for 68.5 cents per share at 11:29 am AEST.


Read the full article on The Market Herald here: https://themarketherald.com.au/macarthur-minerals-asxmio-allows-eyeon-investments-to-convert-notes-to-shares-2020-09-02/

ABOUT MACARTHUR MINERALS

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ABOUT MACARTHUR MINERALS

Visit Macarthur Minerals Website


Macarthur is an iron ore development, gold and lithium exploration company

Listed on the TSX Venture Exchange (TSX-V: MMS) and Australian Stock Exchange (ASX: MIO)


Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its 100% owned Western Australia iron ore projects. The Lake Giles Iron Project includes the 80 million tonne Ularring hematite resource (approved for development) and the 710 million tonne Moonshine magnetite resource.


The Company has secured a binding Life-of-Mine Off-Take Agreement with Glencore International A.G. and is focused on commercializing its iron ore projects utilizing mining, processing and logistics infrastructure in the region and is progressing towards completing a bankable feasibility study.


The Company also has established multiple project areas in the Pilbara, Western Australia for conglomerate gold, hard rock greenstone gold, hard rock lithium and nickel. Macarthur Minerals also has significant lithium brine placer claims in the Railroad Valley, Nevada, USA.


Visit Macarthur Minerals Website

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