Macarthur Minerals (TSX-V: MMS) Update on High Grade Moonshine Magnetite and Ularring Hematite Projects
· Capacity at
· Capacity on rail network available
· Hematite DSO Opex estimate reduced to
· Magnetite Opex estimate reduced to
· Capex estimate for a combined project reduced to
· High margin for premium magnetite product >65% Fe
Macarthur has re-evaluated both the hematite and magnetite projects in response to current market trends of heavy discounting of low-grade iron ore and premium pricing for high grade iron ore. Additionally, Macarthur has been preparing to take advantage of the cessation of operations by Cleveland Cliffs Inc., which has paved the way for access to both rail and port infrastructure. This has been the greatest impediment to advancing the Projects into a production phase.
Cadence holds approximately 12% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium, iron ore and gold in the Pilbara region of
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6946082994529972&qm_symbol=MMS
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the
About Cadence Minerals:
Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.
The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identiﬁed by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.
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