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macarthur minerals ltd (MMS) Snapshot

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52 Week High
01/8/14 - C$0.36
52 Week Low
10/30/13 - C$0.10
Market Cap
8.7M
Average Volume 10 Days
9.4K
EPS TTM
C$-0.08
Shares Outstanding
44.8M
EX-Date
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Current Stock Chart for MACARTHUR MINERALS LTD (MMS)

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macarthur minerals ltd (MMS) Details

Macarthur Minerals Limited explores, develops, and extracts iron ore in Western Australia. Its iron ore projects include the Ularring Hematite project and the Moonshine Magnetite project that are located on exploration and mining tenements covering approximately 1,127 square kilometers. The company also explores for nickel and gold. It was formerly known as Macarthur Diamonds Limited and changed its name to Macarthur Minerals Limited in July 2005. Macarthur Minerals Limited is headquartered in Brisbane, Australia.

macarthur minerals ltd (MMS) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: A$325.0K
Chief Financial Officer and Company Secretary
Total Annual Compensation: A$255.0K
Chief Operating Officer
Total Annual Compensation: A$267.5K
Compensation as of Fiscal Year 2014.

macarthur minerals ltd (MMS) Key Developments

Macarthur Minerals Limited Provides Update on the Company's Iron Ore Projects and Plans for 2014

Macarthur Minerals Limited provided an update on the company's iron ore projects and plans for 2014. Major Achievements during 2013 include: The company's immediate focus remains to bring the Ularring Hematite Project Western Australia into production by second quarter/fourth quarter 2015. Metallurgical Test Work Identifies Distinct Zones for Selective Mining: Further metallurgical testing and iron ore characterisation work was undertaken during 2013. There are a number of zones within the ore body, including zones of predominantly haematitic ores and zones of predominantly geothitic ores. The response to grinding, gravity separation and magnetic separation depends on the specific mineral assemblage, with some ore types possibly beneficiable using a simplified process flow sheet. If confirmed by test work presently under way, this may provide for an opportunity to approach the development of the ore body in stages, with selective mining providing readily beneficiable ore to a simplified beneficiation plant in the first stage to be followed by mining and processing of the remainder of the resource utilising a more complex beneficiation plant at a later date. Such an approach, if technically feasible, could have a positive impact on reducing the Project's initial capex and opex costs. The relevant metallurgical test work is under way and evaluation of this approach is the current focus of the company's metallurgical consulting team; Optimisation of the 2012 Preliminary Feasibility Study Opex & Capex; Throughout 2013, the company optimised the inputs to the Project's Preliminary Feasibility Study that was published in September 2012. This follows a successful Expression of Interest Program for contractors offering core mining, processing and beneficiation, road and rail transport services, and also by revising mining transport infrastructure costs and rail charges. The Company has received written quotes from a number of major Australian mining, mining service and transport groups for the provision of these services. Due to the general slowdown in the Western Australian mining sector, the quotes received are more competitive and commercial than when the PFS was published in 2012. Ularring Project Received Environmental Approval: Approval for the development of the Project was granted by the Western Australian Minister for Environment; Heritage. A Successful Water Resource Drilling Program Was Completed: Nine reverse circulation holes were drilled for a total of 1,320 metres with a view to adding to the water resources announced in the PFS. The holes were drilled over a strike length of three kilometres with seven of the nine holes returning airlift flow rates of between 1 litre per second to 2.5 litres per second. Long term pump rate testing produced a flow rate of two to three litres per second. In addition to this, Macarthur has applied for three water leases over three paleochannel tributaries and further water exploration is required to confirm the capacity of those systems. Macarthur is confident that it has identified sufficient water sources for road construction, dust suppression and the initial mining and process as outlined in the PFS. Esperance Port Confirms Proposals for Expansion Received: In June 2013 the Esperance Port Authority announced that two consortia had been short listed to participate in a Request for Proposal process to design, finance, build and operate a new multi-user iron ore facility at the Port of Esperance. In December 2013, EPSL acknowledged that proposals had been received from the two short listed parties and EPSL is expecting to select a preferred party in the first quarter of 2014. The construction time frames for the MUIOF have not been fully disclosed but it is expected that initial capacity will be available in 2015.

Macarthur Minerals Limited Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2013

Macarthur Minerals Limited announced unaudited consolidated earnings results for the second quarter and six months ended September 30, 2013. For the quarter, the company reported interest income of AUD 72,939 and net loss and comprehensive loss of AUD 1,067,585 or AUD 0.02 per basic and diluted share compared to interest income of AUD 257,035 and net loss and comprehensive loss of AUD 1,145,917 or AUD 0.03 per basic and diluted share a year ago period. For the six months, the company reported interest income of AUD 174,102 and net loss and comprehensive loss of AUD 2,039,702 or AUD 0.05 per basic and diluted share compared to interest income of AUD 607,746 and net loss and comprehensive loss of AUD 1,808,459 or AUD 0.04 per basic and diluted share a year ago period. Net cash used in operating activities was AUD 1,916,026 against AUD 1,814,157 a year ago. Deferred exploration expenditure was AUD 2,548,633 against AUD 6,900,626 a year ago.

Macarthur Minerals Limited Receives Environmental Approval for Development of the Ularring Hematite Project

Macarthur Minerals Limited announced that on October 24, 2013 the Company has received environmental approval for the development of the Ularring Hematite Project based on recommendation by the WA Environmental Protection Authority. The Western Australian Minster for Environment; Heritage issued the environmental approval based on the Company's proposal to develop an iron ore mine and associated infrastructure at the project location, 450km east-north-east of Perth. The Project is well placed to fulfil these conditions as the company plans for project execution. The Port of Esperance expansion is continuing to progress, as the Esperance Port Authority's Request for Proposal phase is planned to be completed in late 2013 after which the preferred proponent will be appointed. Following completion of this process, construction of the Multi-User Iron Ore Facility is planned to commence in 2014 and be completed by 2015.

 

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