Macarthur Minerals Ltd (TSXV:MMS) (the “Company” or “Macarthur”) is pleased to announce that it has entered into an exclusive advisory agreement with UK based Capstan Capital Partners LLP (“Capstan”) to secure the necessary funding required to advance the Company’s significant iron ore projects located in Western Australia.
Capstan is an independent investment banking firm headquartered in London. The Firm has an extensive network of relationships and has unique access to specialist investors across the entire capital structure. Capstan’s institutional business partner is one of Europe’s leading private banks.
Cameron McCall, Executive Chairman of Macarthur commented:
“This is a very exciting development for Macarthur Minerals, and we agree with our corporate advisers that the world is potentially entering in to a new prolonged upward trend cycle for iron ore. Capstan believe in the robustness of our iron ore assets and we are pleased to be working with them and their banks to finally bring our iron ore assets in to production.”
Iron Ore Projects
Macarthur owns 100% of the Macarthur Iron Ore Projects which are located on approved mining tenements covering approximately 62 km2 and are located 175 km northwest of Kalgoorlie in Western Australia (Figure 1 and Figure 2). The Macarthur Iron Ore Projects consist of two distinct mineral projects:
- The Ularring Hematite Project: encompassing hematite iron ore (“hematite”), to be marketed as potential direct shipping and/or beneficiated iron ore; and
- The Moonshine Magnetite Project: encompassing magnetite iron ore (“magnetite”), to be marketed as a beneficiated magnetite concentrate.
The Ularring Hematite Project has been fully approved for mining and the Company has been maintaining the core iron ore projects’ assets in good standing with the Western Australian Government, since their discovery. The Moonshine Magnetite Project presents a very large untapped resource of mostly high grade magnetite with an expected productive life of at least 50 years.
The Company has been reviewing its iron ore projects in light of the emergence of rail and port capacity through to the Port of Esperance and the cessation of mining at Cleveland-Cliffs Inc’s Asia Pacific Iron Ore projects and Mineral Resources Limited’s Carina project.
ABOUT CAPSTAN CAPITAL PARTNERS
Capstan Capital Partners LLP is an independent, privately-owned financial service firm, authorised and regulated by the Financial Conduct Authority. Capstan provides professional and reliable financial advisory in Corporate Finance and Alternative Capital where the firm has won several awards for raising capital in complex transactions. Capstan has a team of senior investment banking professionals and is led by founder and Managing Partner Konstantin Krebs. Prior to founding Capstan, Mr Krebs spent most of his career at Credit Suisse heading different teams that developed and traded structured financial products for corporates and institutional investors. In between, he had a similar role for three years at Merrill Lynch and was Head of Europe and US for WestLB’s Capital Markets Division.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS)
Macarthur Minerals Limited is an exploration company that is focused on identifying high grade gold, nickel, cobalt and lithium. Macarthur Minerals has significant gold, lithium, nickel, cobalt and iron ore exploration interests in Australia. Macarthur Minerals has three iron ore projects in Western Australia; the Ularring hematite project, the Moonshine magnetite project and the Treppo Grande iron ore project. In addition, Macarthur Minerals has significant lithium brine interests in the Railroad Valley, Nevada, USA.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
“Cameron McCall”
Cameron McCall, Executive Chairman
| Company Contact:
Joe Phillips, CEO and Director |
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/8d2bcd16-f4c6-401f-9aaf-2e473091f3b9
http://www.globenewswire.com/NewsRoom/AttachmentNg/6696db8d-a883-481b-a399-8aa85fd5fba6
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