RE: Late RNS!!21 Mar 2019 14:07
Metllurgical test work on the Lake Giles's Moonshine Magnetite Project indicates that an export product of high margin +65% Fe can be achieved. In its announcement, Macarthur states that the current market price for 65% Fe product is quoted at US$98/tonne (A$140 per tonne).
Macarthur also states that the value of the initial 10-year Glencore off-take at current market price for Moonshine iron ore would be ~US$4bn.
Cadence holds approximately 10% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.