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Macarthur Minerals Ltd V.MMS

Alternate Symbol(s):  MMSDF

Macarthur Minerals Limited is an Australia-based iron ore development, and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Company has three iron ore projects in the Yilgarn region of Western Australia and two exploration project areas in the Pilbara, Western Australia for targeting iron ore. In addition, it has lithium brine interests in Railroad Valley, Nevada, United States. Its iron ore projects include Ularring Hematite Project, Moonshine Magnetite Project and Treppo Grande Project. The Lake Giles Iron Ore Projects (Moonshine Magnetite Project and the Ularring Hematite Project) are located on mining tenements covering approximately 62 square kilometers (km2), 175 kilometers northwest of Kalgoorlie in Western Australia. The Treppo Grande Project covers an area of over 68 km2. The Pilbara Projects tenements include E45/5324 and E45/4735. The Reynolds Springs lithium brine project covers an area of around 18 km2.


TSXV:MMS - Post by User

Bullboard Posts
Comment by rkhamon Oct 23, 2017 9:03am
100 Views
Post# 26843856

RE:RE:RE:RE:Fully Underwritten $1.9M Rights Offering to Fund Pilbara Exp

RE:RE:RE:RE:Fully Underwritten $1.9M Rights Offering to Fund Pilbara Expissued under the Rights Offering are validly exercised the Rights Offering will raise gross proceeds of approximately C$1,900,000. Macarthur Minerals intends to use the net proceeds of the Rights Offering to analyse the potential for lithium and gold on its acreage, pay care and maintenance costs on Macarthur Minerals’ existing acreage and for ongoing working capital. Standby Commitment In connection with the Rights Offering, the Company has entered into a standby guarantee agreement (the "Standby Guarantee") for the full Rights Offering of approximately C$1.9 million with Orbit Drilling Pty Ltd (the "Standby Purchaser"). Under the Standby Guarantee, the Standby Purchaser has agreed to subscribe for, and the Company has agreed to issue, all Units offered under the Rights Offering that are not otherwise purchased by the Company's shareholders, up to the amount of approximately $1.9 million. Martin Smith, Managing Director of Orbit Drilling Pty Ltd commented: “I am a big supporter of Macarthur Minerals’ capability and am excited about their tenement package in the Pilbara.”https://www.sedar.com/FindCompanyDocuments.do
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