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Macarthur Minerals CEO Joe Phillips buys shares on-market

The company listed on the ASX earlier this month and is focused on the Lake Giles Iron Ore Project in Western Australia.

Macarthur Minerals Ltd - Macarthur Minerals CEO Joe Phillips buys shares on-market
MIO also has gold assets WA and lithium assets in Nevada

Macarthur Minerals Ltd (ASX:MIO) (CVE:MMS) CEO and director Joe Phillips has purchased 61,000 shares in the company through on-market trades.

The $18,652 purchase was made last Tuesday and Wednesday representing the 10-11 December 2019.

The purchase, which had an average price of 30.5 cents, increases Phillips’ overall holding to 4.05 million shares.

ASX listing via IPO

Macarthur commenced trading on the ASX on December 6 2019 after successfully raising $5 million through the issue of shares priced at 25 cents each.

Funds from the IPO will be primarily used to advance the company’s flagship Lake Giles

Iron Project in WA’s Yilgarn region, about 175 kilometres northwest of Kalgoorlie-Boulder.

Drilling hits high-grade magnetite

Last week, the company revealed results from a recently completed drilling program that comprised 21 RC holes and nine diamond holes.

Highlights included 94 metres at 40.51% iron at Moonshine North.

The infill drilling program has been designed to upgrade the resource classification for some of the Moonshine and Moonshine North deposits.

Quick facts: Macarthur Minerals Ltd

Price: 0.155 AUD

ASX:MIO
Market: ASX
Market Cap: $15.86 m
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Watch

Macarthur Minerals reveals strong magnetite intersections from Lake Giles...

EAS Advisors Founder Eddie Sugar tells Proactive that Macarthur Minerals Ltd (ASX:MIO) (CVE:MMS) recently received assays that confirmed strong magnetite intersections at the Lake Giles Iron Project near Kalgoorlie in Western Australia, with the results to form the basis of a revised resource...

on 12/5/20

2 min read