Announcement Date: 2022-04-11
Announcement Type: Feasibility Study
Announcement Code: NI43-101
Company name: Macarthur Minerals Ltd.
Project name: Lake Giles
Location: Australia
Commodities: Iron,Alumina,Silica,Phosphorous
Highlight: Feasibility Study results incl. post-tax NPV (6%) of US$314M & IRR of 10.1%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Macarthur Minerals Limited (ASX: MIO) (TSX-V: MMS) (OTCQB: MMSDF) (the Company or Macarthur) is pleased to advise that it has completed a Feasibility Study for the Company’s high grade magnetite Lake Giles Iron Project. The results confirm that the project is economically viable under long-term iron ore price forecasts. The Feasibility Study confirms an economically viable project producing 3 million tonnes per annum (dry basis) of high-grade magnetite concentrate over a 25-year mine life. The project will leverage off access to existing regional rail and port infrastructure and deliver a premium concentrate (66% Fe) product with low impurities. The Feasibility Study underpins a maiden Mineral Reserve of 237 million tonnes as reported to the market on 15 March 2022. (See announcement here). The Feasibility Study NI43-101 Technical Report will be released to the market within 45 days of the maiden Mineral Reserves announcement. The Company will now proceed with post study optimization work, project development approvals and advancing project finance. Definition of a flow sheet comprising conventional crushing and grinding (HPGR, ball mill and Vertimill), magnetic separation, followed by reverse flotation to reduce silica in the final concentrate. Concentrate production of 3 Mtpa (dry basis) with a size range of P80 38 micron.
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