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Macarthur Minerals (TSXV:MMS) has opened the Australian Securities Exchange initial public offering of Macarthur Australia Ltd. to raise up to $10-million (Australian).
Macarthur Minerals (TSXV:MMS) has opened the Australian Securities Exchange initial public offering of Macarthur Australia Ltd. to raise up to $10-million (Australian).
David Taplin, president, chief executive officer and director of Macarthur Minerals, commented:
“We are delighted to open the IPO and accept applications to raise up to $10-million (Australian). This is an exciting step for the company towards advancing its Australian iron ore and lithium interests. Macarthur Minerals will retain 66- to 76-per-cent ownership of Macarthur Australia. We believe that an ASX IPO of our Australian iron ore and lithium projects will provide improved price realization for those projects more consistent with our ASX-listed peers.”
ASX IPO of Macarthur Australia
A copy of the prospectus and application form is available to qualified investors at the company’s website.
The IPO is intended to close on May 2, 2017, and begin trading on the ASX on May 17, 2017, subject to acceptance by the ASX.
The board of Macarthur Minerals believes that the ASX IPO of Macarthur Australia, which now owns its Australian iron ore and lithium projects, will provide improved price realization for those projects more consistent with its ASX-listed peers.
Macarthur Minerals’ wholly owned subsidiary, Macarthur Lithium Nevada Ltd., will continue to advance the Stonewall lithium project, located in Nevada.
About Macarthur Minerals
Macarthur Minerals is an exploration and development company that is focused on developing its Western Australian iron ore projects and its lithium exploration interests in Australia and Nevada.
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