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Macarthur Minerals in trading halt with material project announcement pending

The company is examining the opportunity to accelerate operations at Lake Giles project for mining direct shipping ore from hematite deposits with the objective of generating early revenue.

Macarthur Minerals Ltd - Macarthur Minerals in trading halt regarding material announcement
Macarthur Minerals has the Lake Giles Iron Project in Western Australia

Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) (OTCMKTS:MMSDF) has a material announcement pending in relation to its project and has been granted a trading halt.  

The trading halt will be in place until the beginning of regular ASX trade on Thursday, July 16, or when an announcement is released to the market.

Shares in the company last traded at 15.5 cents.

Lake Giles early revenue opportunities

Macarthur is examining early revenue opportunities for the Lake Giles Iron Project in Western Australia and has lodged applications to develop a 93-kilometre haul road to a proposed rail siding adjacent to the Perth-Kalgoorlie rail line.

The proposed road and siding would provide the opportunity for the transport of ore from the project in the state's Yilgarn region by rail to Esperance Port or the Port of Kwinana as well as support potential for early revenue direct shipping ore (DSO) hematite mining.

These applications have been lodged with the WA Department of Mines, Industry, Regulation and Safety.

The hematite DSO plan would precede development of the larger, high-value magnetite resource at Lake Giles.

Quick facts: Macarthur Minerals Ltd

Price: 0.26 AUD

ASX:MIO
Market: ASX
Market Cap: $26.61 m
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