FEASIBILITY STUDY UPDATE: Rail and port concept plan of operations advances
October 07 2021 - 8:00AM
Macarthur Minerals Limited (ASX: MIO)
(TSX-V: MMS) (OTCQB: MMSDF) (the
Company
or
Macarthur) is pleased to provide an update on
the solid progress being made on the Feasibility Study for its
high-grade magnetite Lake Giles Iron Project. An extensive body of
work has been undertaken on rail and port logistics which will
result in the completion of a concept plan of operations that can
ensure that Macarthur achieves the most efficient and lowest cost
product transport solution possible.
Following on from the announcement on 1 October
2021 detailing the progress of the metallurgical and non-process
infrastructure design (see announcement here), the summary below
sets out details of current progress of both rail and port
logistics and the evolving concept plan of operations for the Lake
Giles Iron Project as the Feasibility Study moves closer to
completion.
Rail and Port Logistics - Progress
Highlights
- Rail logistics:
Preparation of a concept plan of operations for rail and port
transport logistics is advancing to ensure that Macarthur can
achieve the most efficient and lowest cost transport solution
possible. The necessary work to underpin this is being undertaken
by Projectus and includes the following:
- Below rail
pricing: An updated Indicative Track Access Pricing (ITAP)
proposal has been requested from Arc Infrastructure to adjust
operational assumptions under the original ITAP issued in July
2020. The updated ITAP will enable Projectus to reconfirm
below rail network capacity and access pricing for the Lake Giles
Iron Project based upon the most up-to-date details of the required
weekly train paths and the number of train consists necessary to
support Macarthur’s operations.
- Rail loop design:
The layout and design configuration of the Company’s proposed rail
loop near Jaurdi in Western Australia is being advanced based upon
the preferred train consist configuration and length (See Figure 1
below).
- Rail wagon
pricing: Rail wagon pricing is being consolidated
based on updated quotes received and additional costs when in
Australia, including offloading and handling and wagon
certification.
- Rail haulage
services: RFP’s have been issued to above rail providers
for pricing of rail haulage services from the rail loop to
Esperance Port, and pricing is anticipated to be received in early
to mid-October.
- Port access and
unloading: Macarthur has participated in a process
of engagement with other stakeholders for the current master plan
at the Port of Esperance. The master plan is examining the
planning and infrastructure requirements at Esperance up to
2050. The draft masterplan for the Port is anticipated to be
released shortly, and the trade scenario analyses considered under
the draft masterplan has informed Macarthur’s design approach under
the Feasibility Study for the development of new rail unloading and
product storage solutions at the Port. The Port interface
issues are being examined in conjunction with the concept plan of
operations which Projectus is compiling, and the Company
anticipates that a separate update will be provided to the market
after the draft masterplan has been publicly released by Southern
Ports Authority (“SPA”).
|
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/03a4dc6d-6c6d-4c84-b92b-af59fbda7900
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0185723-a315-4b6c-ac51-bf41412cd2d0
The Company intends to continue providing
updates on Feasibility Study progress (at least fortnightly) in the
lead-up to the completion of the study and the delivery of the
final study outputs to the market. Upcoming news releases will
provide an update on the material progress that has been made on
numerous aspects of the study including the tailings storage
facilities, development of the 640 person mine camp and associated
facilities, power and microgrid facilities and mine planning.
Andrew Bruton, CEO of Macarthur Minerals
commented:
“An extensive body of work has been undertaken
on rail and port logistics planning by the Company in conjunction
with its consultants Projectus and Stantec (Engenium). The quality
of the outputs being delivered under the Feasibility Study to date
is pleasing.
Transport will form a key part of the operating
costs for the Project, and the advancement of a full transport
concept plan of operations from the mine gate to the Port of
Esperance is essential to best position the Company and the Lake
Giles Iron Project for success.
The recent iron ore price correction is not
unexpected, and the Company does not believe that it ought to
detract from the fundamental underlying value proposition that
Macarthur’s magnetite project offers. Macarthur’s objective is to
develop a high-grade magnetite mining operation that can remain
profitable long into the future.
Management is continuing its laser-like focus on
delivering the Lake Giles Iron Project and we look forward to
continuing to release further details of material progress on the
Feasibility Study over the coming weeks.”
On behalf of the Board of Directors
For more information please contact:
Joe Phillips |
|
Managing
Director |
|
+61 7 3221
1796 |
|
communications@macarthurminerals.com |
|
|
|
Investor
Relations – Australia |
Investor
Relations - Canada |
Advisir |
Investor
Cubed |
Alex Bunney,
Manager Client Services |
Neil Simon,
CEO |
alex.bunney@advisir.com.au |
+1 647 258
3310 |
|
info@investor3.ca |
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).
The JORC reporting tables and Competent Person statement for the
magnetite and hematite mineral resources have previously been
disclosed in ASX market announcements dated 12 August 2020 and 5
December 2019. Macarthur has prominent (~721 square kilometre
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
StatementsCertain 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; conversion of Mineral
Resources to Mineral Reserves 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; failure to complete the FS; inability
to demonstrate economic viability of Mineral Resources; and failure
to obtain mining approvals. 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.
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