Shaw and Partners books funds for iron ore hopeful MacArthur Minerals News10 Oct 2019

A Glencore-backed iron ore play is readying its pitch to Australian investors ahead of a planned ASX-listing.

 

It is understood stockbroker Shaw and Partners is booking funds to meet MacArthur Minerals management next week ahead of an initial public offering targeted to raise as much as $7.5 million.

 

MacArthur Minerals is an iron ore development company best known for its Lake Giles project in the Yilgarn region of Western Australia.

 

It is already listed on Canada's TSX Ventures and wants a dual listing in Australia to help raise funds to get Lake Giles into production.

 

MacArthur Minerals' pitch to local investors is expected to centre on the project's high-grade magnetite concentrate which should make it attractive blast furnace feedstock for steelmakers offshore.

 

Glencore is already on board with the steelmaking story, having already invested $US2 million in the company and locking in a 10-year offtake agreement.

 

It is understood Glencore's co-head of iron ore trading, Peter Hill, is booked to roadshow with MacArthur Minerals' CEO and chairman next week.

 

Should MacArthur Minerals get its ASX listing, it would join a bunch of listed companies including Mineral Resources in trying to establish the next iron ore hub, according to the company's executive chairman Cameron McCall.

 

Article source: AFR, 10 October 2019

Related Articles
News21 Oct 2019 Inaugural Shaw and Partners North Bondi Surf Ski Classic held in Sydney over the weekend
Over the weekend, the inaugural Shaw and Partners North Bondi Surf Ski Classic saw a world class field of contestants racing from Watson’s Bay to Australia’s most famous stretch of... Read More
News17 Oct 2019 Shaw and Partners and Morgans seek to raise for Soul Patts-backed opiate grower
Palla Pharma boss Jarrod Ritchie stands in a field of poppy flowers near Cressy in Northern Tasmania.   Listed opiate grower Palla Pharma, the company formerly known as TPI Ente... Read More
News16 Oct 2019 Shaw and Partners appointed as Lead Manager to the proposed IPO of MacArthur Minerals
Shaw and Partners is pleased to be appointed as Lead Manager to the proposed IPO of MacArthur Minerals Limited.   MacArthur Minerals (TSX:MMS) is a TSX Venture Exchange listed ir... Read More
News16 Oct 2019 "Investing in a world with low interest rates" Equity Market Outlook kicks off in Canberra
Shaw and Partners was pleased to kick off our national Equity Market Outlook "Investing in a world with low interest rates" event series in the nation's capital last night.   Sha... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%