Investing News: Macarthur MineralsNot in here yet, but looks like a winner. Well done all holders. Great overview from Investing News:
https://investingnews.com/company-profiles/macarthur-minerals-ravensthorpe-lithium-mining-australia/
Macarthur Minerals (TSXV:MMS) is an Australian company focused on identifying and developing high-grade lithium projects. Macarthur Minerals currently holds 13 exploration license applications covering a total area of 1,192 square kilometers across the Pilbara, Ravensthorpe and Mid-West regions of Western Australia.
Peer activity in the Pilbara region includes both Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM) who hold advanced lithium projects with JORC-compliant resources.
Rare Earth Minerals PLC (AIM:REM, OTC:REMMY) recently made a strategic investment in Macarthur Minerals. REM has a joint-venture partnership with Bacanora Minerals in the Sonora Lithium Project in Mexico—the only project in the world to have an offtake agreement with Tesla.
“The global lithium market is growing rapidly due to developments in the technology and energy sectors, especially in the use of lithium-ion batteries for portable electronic devices, hybrid electric motor vehicles and storage battery industries.” said David Taplin, Managing Director of Macarthur Minerals.
David Taplin went on to say “Industry experts comment that overall lithium demand may more than double from present levels through to 2025, while incumbent producers of lithium are limited in their ability to bring on additional supply to satisfy growing demand.”
Macarthur Minerals is managed by a strong team of exploration and finance professionals. The team recently completed a modest capital raise which will bring its lithium projects through the initial stage of field reconnaissance in mid-2016. The Company will seek further capital to develop its projects.
Macarthur Minerals has a “shovel-ready” iron ore project, in Western Australia’s Yilgarn region. This project and the Company’s other iron ore project is on care and maintenance due to the current oversupplied iron ore market.
Investment Highlights
- Over 1,192 square kilometers of lithium acreage in Western Australia.
- One of a few TSX-V listed companies to have potential projects for lithium in Australia Strong management team with significant international experience with a worldwide network of contacts.
- Strong track record of exploring and identifying projects.
- Strategic investment by Rare Earth Minerals Plc, which has invested in other world class lithium projects.
- Lithium acreage is approximate to Pilbara Minerals, which has raised A$100m to develop lithium-tantalum project.
- Two iron ore projects in the Yilgarn Region of Western Australia with over C$70 million raised and invested.
Western Australia’s Rising Lithium District
A world-class lithium district is emerging in the Pilbara region of Western Australia —a global center for iron ore production. The region is home to advanced-stage lithium projects such as those owned by Pilbara Minerals and Altura Mining. The district hosts many granitic pegmatites, which are sometimes sources of lithium-rich spodumene, the most commercially important lithium-bearing mineral.
Macarthur’s Pilbara Lithium Acreage
Macarthur Minerals’ Pilbara lithium acreage includes 11 exploration license applications covering 980 square kilometers across the Pilbara region.
“We have one of the largest potential acreage packages for hard rock lithium for a junior company,” stated Mr Taplin. “We are also one of the few Canadian-listed companies to have acreage prospective for lithium in Australia. We have a significant acreage package, which will give us a high probability of finding lithium. Secondly, it allows for the potential to enter into multiple joint venture or farm-in opportunities on our acreage.”
In this same region, Pilbara Minerals’ holds 29.5 million tonnes of JORC mineral reserves grading 1.31 percent lithium oxide. A preliminary feasibility study shows a NPV of A$407 million and an IRR of 44 percent. Altura Mining’s lithium holdings contain a JORC mineral resource estimate of 35.7 million tonnes grading 1.05 percent lithium oxide. A recently published mining study shows a NPV of A$277 million and an IRR of 42.5 percent.
Macarthur Minerals selected the Pilbara projects because they demonstrated geological attributes in line with the currently accepted exploration model for lithium-Caesium Tantalum (LCT-type) rare element pegmatite and contain similar geological settings to the Pilgangoora Li-Ta pegmatite deposits which host the lithium projects of Pilbara and Altura. A desktop study completed by mining consultancy firm CSA Global confirms the acreage is highly prospective for lithium-bearing spodumene pegmatites.
Recent exploration targeting iron, base metals and gold was carried out on some of Macarthur Minerals’s acreage by Fortescue Metals. Soil sampling conducted during this work shows anomalous areas for lithium as well as for indicator elements (rubidium and caesium) of pegmatites that may host spodumene. Macarthur Minerals plans to target these anomalous areas for follow-up exploration work.
Ravensthorpe Project
Macarthur Minerals also has two exploration license applications in Ravensthorpe, Western Australia, which cover an area of 91 square kilometers.
The Ravensthorpe exploration license applications are proximate to the Mount Cattlin project of Australian Securities Exchange listed Galaxy Resources Limited, which is currently mining and processing spodumene and tantalum concentrate near Ravensthorpe in South Western Australia.
One of the two new Ravensthorpe applications has mapped pegmatites with potential to host lithium mineralization, and is in the same setting as Galaxy’s Mount Cattlin project, which is 10 kilometers to the north-east
Edah Hill Project
Macarthur Minerals also has an exploration license pending on the Edah Hill Project which covers 121 square kilometers in the Mt. Edah district of Western Australia’s Midwest region. The property is surrounded by occurrences of pegmatites with tantalum, beryl and traces of rare metals including tin, tungsten and lithium.
Next Steps
In mid-2016, with the assistance of CSA Global, Macarthur Minerals plans to commence field mapping and surface sampling to locate outcropping pegmatites followed by targeted rock chip and a regional soil sampling program. Geophysical surveys will also be conducted in order to hone in on the main pegmatite zone and delineate targets for later drilling. Macarthur Minerals hopes to publish the results of these exploration efforts in 2016.
In addition to exploring potential joint venture partnerships to advance its current lithium acreage, Macarthur Minerals is also looking to grow its project portfolio through strategic acquisitions.
Iron Ore Projects
Macarthur Minerals’s iron ore projects are located northwest of Kalgoorlie in the Yilgarn region of Western Australia. The Ularring Hematite Project contains a total of 54.46 million tonnes of indicated mineral resource and 25.99 million tonnes of inferred mineral resource. Macarthur Minerals has received environmental approval for the Ularring Project at both the state and federal level. The Moonshine Magnetite Project contains a total inferred mineral resource of 1,316 million tonnes.
Management
David Taplin—Managing Director
David Taplin has 25 years experience as an executive in mining, gas and electricity. In addition to Managing Director, he has held positions as chief financial officer, company secretary, general counsel and in corporate development for several ASX, TSX and TSX-V companies and government-owned corporations. David has worked extensively in corporate finance, corporate law and corporate governance both in Australia and internationally. David holds a Bachelor of Laws, Master of Business Administration (AGSM), Graduate Diploma of Applied Corporate Governance, Graduate Diploma of Business Management, and is a solicitor, CPA, Chartered Secretary (ACIS and FGIA) and member of the Australian Institute of Company Directors.
Alan Phillips— Executive Director
Alan Phillips has been a senior executive, director and chairman of ASX, TSX-V, TSX and AIM listed companies over a period of 40 years. Alan has experience in a broad range of industries, but predominantly in the mining and exploration of copper, gold, ethanol and iron ore and technology sectors.
Cameron McCall—Chairman and Non-Executive Director
Cameron McCall has a wealth of experience across the financial services and commercial property industries within Australia and internationally. He has been providing investment advice, equity capital raising and share trading for over 17 years to corporate entities and private clients at Hartley’s Limited and Macquarie Bank Limited. Cameron has during his 40 year career built an extensive network of international and Australian based high net worth individuals and corporate entities. He is currently running a corporate advisory business providing advice on asset acquisition and capital raising to international and Australian based organizations.
Technical Team
Dr. Dean Carter, BSc (Hons), PhD —Project Manager
Dr. Dean Carter is a scientist with more than 15 years’ experience in environmental research and managing the regulatory approval of mining and infrastructure projects in various commodities including iron ore, coal and nickel. He has been involved in all aspects of project development from exploration, feasibility, construction and production. He has experience in project management including study planning and budgeting, land acquisition, native title negotiation, logistics pathways and government relations.
Prof. Ken Collerson PhD., FAusIMM, FGSA – Consultant
Dr. Andrew Scogings MSc, PhD, MAIG, — CSA Global Technical Advisor
Dr. Andrew Scogings has more than 30 years of experience in industrial minerals exploration, geology, mining, product development, and marketing. During his time with CSA, he has undertaken project management and technical advice for a diverse range of industrial minerals exploration and mining projects including lithium, graphite, chromite, potash, mineral sands, silica, and REE in Australia, Africa, Greenland, Indonesia and Norway.
Graham Jeffress BSc (Hons), FAIF, RPGeo, FAusIMM, FSEG — CSA Global Technical Advisor
Graham Jeffress is a geologist with over 25 years’ experience in exploration and management in Australia, PNG and Indonesia. He has worked in exploration (ranging from grassroots reconnaissance through to brownfields, near-mine and resource definition), project evaluation and mining in a variety of geological terrains, commodities and mineralization styles within Australia and internationally. Graham was a Federal Councillor of the Australian Institute of Geoscientists for 11 years and joined the Joint Ore Reserves Committee in 2014.
Ralph Porter MSc, BSc (Geology), MAIG, MSEG — CSA Global Technical Advisor
Ralph Porter is a geologist with over 35 years’ of mineral exploration experience. He is highly experienced in target generation, project evaluation and exploration program implementation for gold, base metals, tantalum, nickel and PGM’s. Ralph was Exploration Manager for Sons of Gwalia in Western Australia for nearly 10 years including responsibility for tantalum pegmatites for 4 years. He was Special Projects Manager for Sons of Gwalia in Western Australia for nearly 10 years, including responsibility for tantalum pegmatite evaluation and exploration for four years.