4 Billon Dollar Penny Stock MMSDF MMS
1984 Billon Dollar Penny Stock MMSDF MMS - RICH TV LIVE - MARCH 22, 2019 - Macarthur Minerals Limited (TSXV:MMS.VN) (OTCQB:MMSDF) (the "Company" or "Macarthur") is pleased to announce that it has entered into a binding Life-of-Mine Off-Take Agreement ("Agreement") with Glencore International A.G. ("Glencore") for sale of iron ore to be produced from the Lake Giles Iron Project ("Project") at Lake Giles in the Yilgarn region of Western Australia from the commencement of commercial production.
Cameron McCall, Executive Chairman of Macarthur Minerals commented;
"I am extremely excited to see Glencore's commitment to purchase Macarthur's production over the long term. Securing this approximately US$4 billion purchase arrangement ensures consistent long-term revenue to the Company. Seeing a commitment of this size validates our resource and project and puts Macarthur in a position to maximize value to our shareholders. Macarthur's management is pursuing debt financing discussion with European banks and international financial institutions. Achieving this key milestone is the beginning for Macarthur to transition into a large scale global resource production company. A project of this size will provide long term Western Australian job creation for a generation, especially in the local region of the proposed iron ore mines and for the port workforce in Esperance."
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.
High grade iron ore prices:
Metallurgical test work on the Lake Giles's Moonshine Magnetite Project indicates that an export product of high margin +65% Fe can be achieved. Current market price for 65% Fe product is quoted at US$98/tonne (A$140 per tonne). The value of the initial 10-year Glencore off-take at current market price for Moonshine iron ore would be ~US$4 billion.
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