Macarthur
Minerals Limited (TSX-V: MMS)
(ASX: MIO) (OTCQB: MMSDF) (the “Company”
or “Macarthur”) is pleased to provide an update on the continued
progress towards completion of route to market for its flagship
Moonshine magnetite deposits at Macarthur’s Lake Giles Iron Project
(“Project”).
ENGINEERING
DESIGN REPORT FOR
CUTTING
EDGE ‘HELIX’
RAIL
UNLOADING
SYSTEM
COMPLETED
Following the recent engagement of RCR Mining
Technologies Pty Ltd (“RCR MT”) to examine the potential to develop
and utilise a cutting-edge rail unloading technology at Esperance
Port (See the Company’s recent announcements dated 29 July 2020
here and 2 September 2020 here), RCR MT has now completed its
engineering design report.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b37fb508-4f02-488f-9a7e-ea0e5d388081
https://www.globenewswire.com/NewsRoom/AttachmentNg/f6eaea10-d102-4c44-a615-abcc22de319b
RCR MT, a subsidiary of NRW Holdings (ASX: NWH),
holds an exclusive license to develop the Helix Dumper system in
Australia and in combination with Kiruna Wagon, have the ability to
manufacture both the dumper and wagons in Western Australia. RCR MT
was engaged by Macarthur to examine the potential to utilise the
cutting-edge rail unloading technology that has been successfully
used in Scandinavian magnetite operations for several years.
RCR MT’s Engineering Design Report has been
provided to key stakeholders including Southern Ports Authority and
Arc Infrastructure for review. Following completion of the review
process, which is intended to bring clarity to a preferred
infrastructure operating model that could potentially be adopted
within the Port, Macarthur anticipates that an optimised rail
unloading infrastructure solution is capable of being selected for
development.
If constructed, the new Helix Dumper rail
unloading system has the potential to optimise the existing
capacity of the Berth 3 ship-loader enhancing its current
performance from 2,200tph to approximately 4,500tph. With a design
capacity potential of up to 25,000tph, RCR MT and Macarthur are
confident that the Helix Dumper system can easily increase iron ore
through-put at the Port.
Macarthur’s proposal to develop the rail
unloading infrastructure solution at Esperance Port:
- does not require material capital
contributions from the Port or the Western Australian State
Government; and
- is intended to permit third party
access to latent capacity within the Helix Dumper system,
supporting important principles of open access.
If constructed, the Helix Dumper system has a
design capacity which will be capable of handling tonnages well in
excess of Macarthur’s immediate requirements for the Lake Giles
Iron Project, thereby providing the potential for increased trade
through Esperance, subject to capacity elsewhere within the
Port.
PORT OF
ESPERANCE – PATHWAY TO
CAPACITY
ALLOCATION
In parallel with the examination of a suitable
infrastructure operating model at the Port, Macarthur is continuing
to engage with Southern Ports Authority on its requirements for
providing Macarthur with a staged pathway to securing a binding
capacity allocation.
With the continued positive and collaborative
engagement being provided by Southern Ports Authority, Macarthur
has confidence in the potential to achieve a contractual pathway to
a capacity allocation that will be sufficient to support the
Company’s current Feasibility Study for the Lake Giles Iron
Project.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ddf82a81-7524-41eb-810d-fc9d6459af61
https://www.globenewswire.com/NewsRoom/AttachmentNg/6e798b75-cdbc-4f90-9bd9-bd3fbe898db6
https://www.globenewswire.com/NewsRoom/AttachmentNg/d292f8f9-cccb-4f41-adb4-95d9a14495df
ABOVE RAIL (RAIL HAULAGE)
SERVICES
Macarthur is in advanced discussions with above
rail service providers on indicative pricing for rail haulage
services from its proposed rail siding to the Port of Esperance.
The Company is confident that it can secure rail tasks and
indicative pricing on competitive terms. This will enable Macarthur
to select a preferred provider and seek to negotiate a binding rail
haulage contract to support development of the Lake Giles Iron
Project.
OTHER
RECENT
ROUTE TO
MARKET
PROGRESS
In addition to recent progress on the rail
unloading solution and discussions with Southern Ports, Macarthur
has recently advanced the following route-to-market successes:
- The Company announced on 25 June
2020, details of applications lodged for haul road and rail loading
tenure which maps out a solution to transport magnetite from the
Lake Giles Iron Project to the existing rail network that connects
to the Port of Esperance. The Company is advancing with the Crown
Lease application in support of this process (see full release
here).
- The Company announced on 15 July
2020, it had received a Proposal for development of a Commercial
Track Access Agreement from Arc Infrastructure, the owner of the
below-rail network (see full release here).
Cameron McCall, President and Executive
Chairman of Macarthur Minerals commented:
“The successful completion of the RCR MT
engineering design report for the Helix Dumper is an important
development in Macarthur’s progress to completing the route to
market for its Lake Giles Iron Project.
We are delivering industry-led solutions that
are committed to supporting the principles of open access. That is
the right thing to do, but it’s also smart business in a region
where we intend to be operating for a long time. Whilst we have our
eyes firmly fixed on the delivered cost of our product, we also
believe that it’s very important to build positive, mutually
beneficial commercial relationships with our key service providers
so that they can partner with us and help deliver future growth in
our Lake Giles Iron Project for many years to come.
The continued, systematic progress Management is
making on securing our route to market is strong, and the Board is
pleased that the value the Lake Giles Iron Project can bring to the
State of Western Australia is finally being recognised in its
recent collaborative engagements with key port and rail service
providers.
These positive steps support our belief that the
time for the Lake Giles Iron Project has finally arrived. Macarthur
has big plans, and more great things are yet to come.”
On behalf of the Board of Directors, Mr
Cameron McCall, Executive
Chairman
For more information please contact: |
|
|
|
Joe PhillipsCEO & Director+61
7 3221 1796communications@macarthurminerals.com |
|
|
|
|
|
Investor Relations –
AustraliaAdvisirSarah Lenard,
Partnersarah.lenard@advisir.com.au |
|
Investor Relations -
CanadaInvestor Cubed Neil Simon, CEO+1 647 258
3310info@investor3.ca |
About RCR MT
RCR MT is a subsidiary of ASX listed NRW
Holdings (ASX: NWH), a leading provider of diversified services to
the mining, energy and civil infrastructure sectors. RCR MT is a
market leader in the design and manufacture of an extensive range
of surface and bulk materials handling equipment with a reputation
for delivering high quality mining technologies nationally and
internationally. RCR MT holds an exclusive license to develop the
Helix system in Australia and in combination with Kiruna Wagon have
the ability to manufacture both the dumper and wagons in Western
Australia.
Company profile
Macarthur is an iron ore development, gold and
lithium exploration company that is focused on bringing to
production its Western Australia iron ore projects. The Lake Giles
Iron Project mineral resources include the Ularring hematite
resource (approved for development) comprising Indicated resources
of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26
million tonnes at 45.4% Fe; and the Lake Giles magnetite resource
of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated)
and 997 million tonnes (Inferred). Macarthur has prominent (~721
square kilometer tenement area) gold, lithium and copper
exploration interests in Pilbara region of Western Australia. In
addition, Macarthur has lithium brine Claims in the emerging
Railroad Valley region in Nevada, USA.
This news release is not for
distribution to United
States services or for dissemination in
the United States
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. All statements herein, other than statements
of historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future, including but not limited to statements regarding
expected completion of the Feasibility Study; granting of mineral
tenure to facilitate infrastructure proposed; the ability to enter
into a commercial rail access agreement or the eventual mining of
the Project, are forward-looking statements. 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. 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 but are not limited to: unforeseen
technology changes that results in a reduction in iron or magnetite
demand or substitution by other metals or materials; the discovery
of new large low cost deposits of iron magnetite; the general level
of global economic activity; future changes in rail network
capacity and demand; failure to complete the FS; failure to receive
mineral tenure for infrastructure; and failure to obtain mining
approvals under the Mining Act; inability to negotiate access to
tenure at the Port of Esperance. 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.
Macarthur Minerals (TSXV:MMS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Macarthur Minerals (TSXV:MMS)
Historical Stock Chart
From Jul 2023 to Jul 2024