Macarthur seeks filing extension under Canadian Securities Administrators Blanket Order
September 25 2020 - 8:59PM
Macarthur Minerals Limited
(ASX: MIO)
(TSX-V: MMS) (OTCQB: MMSDF) (the
“Company” or “Macarthur”) is seeking an extension period of time
under BC 51-517, section 4.2(l)(j) for the filing of a technical
report National Instrument 43-101 Standards of Disclosure for
Mineral Projects, pertaining to its Lake Giles Iron Project.
The Company expects to file the report on or
before 10 November 2020 and confirms that Management and other
insiders are subject to a trading black-out policy that
reflects the principles in section 9 of National Policy 11-207.
Since the filing of the Company last interim
financial report on 1 September 2020, the following material
business developments have occurred:
- Conversion of the total of the
company’s outstanding debt under the Convertible Notes;
- Extension of 7,928,183
post-consolidation common share purchase warrants that were issued
as part of rights offering completed by the Company in December
2017, from 15 December 2020 to 15 December 2021;
- Trading on the OTCQB Venture
commencing on 15 September 2020;
- Cancellation of the Earn-in
Agreement with Fe Limited with effect from 15 September 2020.
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 |
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Investor Relations – AustraliaAdvisirSarah Lenard,
Partnersarah.lenard@advisir.com.au |
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Investor Relations - CanadaInvestor CubedNeil Simon, CEO+1 647 258
3310info@investor3.ca |
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Company profileMacarthur 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.
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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