- Business
- Macarthur Minerals Limited engages in the exploration and development of mineral resource properties focused on iron ore, nickel, gold, lithium and copper deposits in Australia and the United States. The company develops the Lake Giles Iron Project in Western Australia, which includes 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, the Lake Giles magnetite resource of 53.9 million tonnes Measured, 218.7 million tonnes Indicated and 997 million tonnes Inferred, and Proven Ore Reserves of 51.9 million tonnes and Probable Ore Reserves of 184.7 million tonnes; it holds 24 square kilometre iron exploration interests and approximately 721 square kilometre gold, lithium and copper exploration tenements in the Pilbara region of Western Australia; and maintains lithium brine claims in the Railroad Valley region of Nevada, USA. Macarthur Minerals, founded in 2002 and headquartered in Brisbane, Australia, lists on the ASX (MIO), TSX Venture Exchange (MMS) and OTCQB (MMSDF). Recent developments include a binding agreement signed on 13 June 2024 with Gold Valley Yilgarn Pty Ltd granting mining rights to hematite ore at the Lake Giles Ularring Hematite Project, with staged payments received comprising A$250,000 on 30 September 2024, A$250,000 on 31 December 2024 and a third A$250,000 in early 2025; closure of a A$1.282 million private placement in August 2024 issuing 24,193,831 shares at A$0.053 each with attaching options; engagement of mining expert Nigel Jones via Redbeck Partners Ltd in May 2025 to pursue joint ventures, acquisitions or mergers; voluntary delisting from the TSX Venture Exchange and OTC Markets effective 16 May 2025; change of registered office to Suite 4, Level 34, Waterfront Place, Brisbane in May 2025; and an entitlement offer shortfall in August 2025 alongside annual general meeting activities.