MacArthur Minerals Ltd (MMSDF)

[Zeroze2002]

THE RELEASE IN AUSTRALIA

Macarthur rides on the wave of iron ore rebound The West Australian 16 Feb 2017

Iron ores price rebound has triggered the rebirth of the Yilgarns junior ironmongers. First cab off the rank could be Toronto-listed Macarthur Minerals, which has appointed Novus Capital to market a $10 million float of its Australian iron ore and lithium assets on the Australian Securities Exchange. Fifteen months after the $6 mil- lion sale to GIM of the 26 milliontonne-a-year Ullaring hematite project, 175km north-west of Kalgoorlie-Boulder, fell through, the Cliffs neighbour has Singaporean multi-millionaire Rakesh Tulshyan on board to raise the $200 million needed to bring the shovel-ready development online. The Indian-born dealmaker, who has built his business empire through recycling decommissioned ships for scrap metal at a rate of about 100 vessels a year, has undertaken through his Tulshyan Group to arrange financing, including an initial tranche of $50 million. Mr Tulshyan said he hoped to offtake partially processed ore from the Macarthur project through the Tulshyan Groups shipping arm, which has a fleet of about 30 vessels, direct to the Asian steel market. I believe the prospects are good, I believe the company is underva- lued and I believe with expenditure weve got good prospects, he said. We have a good reserve of iron ore that can easily be shipped out, and we could easily offtake it and place it with the steel mills in India as well as China, and other countries also. We have the ability to acquire, either buy or charter, capesize vessels the moment the ore is ready to be shipped out. Macarthur Minerals anticipates listing in Australia by mid-April
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