Macarthur Minerals in $5m placement
Listed explorer Macarthur Minerals has launched a $5 million placement to start executing its West Australian Lake Giles iron project.
30/03/2022 4:23:00 AM
Listed explorer Macarthur Minerals has launched a $5 million placement to start executing its West Australian Lake Giles iron project.
Listed explorer Macarthur Minerals has launched a $5 million placement to start executing its West Australian Lake Giles iron project.
Bloomberg photo by Ian Waldie.The offer was for 10 million shares at 54.5¢ a share, an 8.3 per cent discount to the last close. It included a one-for-one option with a 65¢ strike price and a two-year expiry. The company had room for oversubscriptions under its placement capacity of 36.4 million shares.
Macarthur’s main project is Lake Giles, where its Ularring hematite resource has advised 54.5 million tonnes indicated resources at 47.2 per cent iron and 26 million inferred resources at 45.6 per cent.Lake Giles’ magnetite resource has posted 53.9 million tonnes measured resource, 218.7 million tonnes indicated and 997 million tonnes inferred. The company also has a 25 square kilometre iron ore exploration patch in Pilbara and a lithium brine exploration project in Nevada in the United States.
MST Capital Markets and EAS Advisors were the joint lead managers on the raise, a departure from Shaw and Partners which did theBids were due 5pm Wednesday.Macarthur Minerals had a $79.4 million market capitalisation before the raise.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. headtopics.com
https://headtopics.com/au/macarthur-minerals-in-5m-placement-25186707