MacArthur Minerals Ltd (MMSDF)

[HokieHead]

I've never seen anything like this before..

Talk about turning a micro cap miner in to a rockstar overnight:

Macarthur Minerals Signs 10 Year Iron Ore Off-Take Agreement for the Lake Giles Iron Project in Australia With Glencore International A.G.

Transaction Highlights:
-Glencore secures life-of-mine of the project with commercial terms for approximately 4 million tonnes per annum average for the first 10 years, with the option to extend for a following 10 years for all tonnes of future Lake Giles iron ore production.
-Glencore agrees to release up to 70% of their off-take volume where Macarthur secures project financing from a Strategic Industry Investor, subject to their securing off-take of the product produced.
-This Agreement with Glencore positions Macarthur to go forward to complete their project financing.
-The Agreement is currently valued at approximately US$4 billion in revenue over the first 10-year term ensuring Macarthur long term revenue and consistent sales per year.
-Terms and conditions have been competitively negotiated reflecting strong forward demand.

MMS is still halted on the news but based on MMSDF $0.30 it's expecting MMS to open around $0.40. Current market cap at $0.30 is $36 million and they just announced that Glencore, a $220 BILLION market cap company, is taking their mine production for 10+ years?

If the terms are $4 billion in sales over 10 years this will easily trade with a few billion $ market cap. A $1 billion cap is:

$1b / 297m OS = $3.36 per share.

Insane appreciation coming here. Need MMS to start trading again..