Tenement ID | Project | Status | Holder | Area |
M37/1349 | Live | 15.37155 Ha | ||
P37/8278^ | Barlow’s Gully | Live | 200 Ha | |
M37/983 | Live | 38 Ha | ||
P37/8310^ | Great Northern Workings | Live | 134 Ha | |
P37/8325 | Camel | Live | 191 Ha | |
P37/8376 | Live | 180 Ha | ||
P37/8468 | Craig's Rest~ | Live | 138 Ha | |
P37/8571 | Specking Patch | Live | 108.69 Ha | |
P37/9162 | Coppermine | Live | 111 Ha | |
E37/1442 | Craig's Rest~ | Live | 1 Block | |
M37/1360# | Great Northern Workings | Pending | 134 Ha | |
M37/1359# | Barlow’s Gully | Pending | 200 Ha | |
^ Application submitted for conversion to | ||||
~ Formerly "Garden Well" |
The conditions precedent which must be satisfied or waived prior to completion of the purchase by Infinity are:
(a) | ASX granting conditional approval for the Purchaser (Infinity) to be admitted to the official list of ASX; | |
(b) | all necessary Ministerial Consents to the transfer of the granted Tenements being given under the Mining Act; | |
(c) | all necessary third-party consents to the Disposal of a Seller’s rights have been obtained; and | |
(d) | Infinity receiving any necessary approvals. |
The conditions precedent must be satisfied by the end date of
The total consideration payable by Infinity for the purchase of the Central Goldfields Tenements will be 20,000,000 shares in Infinity at a deemed price of
(a) | Zanil will receive 10,000,000 shares in Infinity, representing a value of | |
(b) | Pointon will receive 10,000,000 shares in Infinity, representing a value of |
The Sale and Purchase Agreement otherwise contains provisions considered standard for an agreement of its nature (including requirements for assignment of contracts to the buyer affecting the relevant Tenements, pre-completion rights and obligations, representations, warranties and confidentiality provisions.)
On behalf of the Board of Directors, Mr
For more information please contact: | |
Managing Director | |
+61 7 3221 1796 | |
communications@macarthurminerals.com | |
Investor Relations – | Investor Relations - |
Advisir | Investor Cubed |
alex.bunney@advisir.com.au | +1 647 258 3310 |
info@investor3.ca |
No new information
To the extent that this announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements (including supporting JORC reporting tables) made by the Company, unless explicitly stated, no new information is contained in accordance with Table 1 checklist in the JORC Code. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of Mineral Resources that all assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
Company profile
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its
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Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding expected completion of the Feasibility Study; conversion of Mineral Resources to Mineral Reserves or the eventual mining of the Project, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials; the discovery of new large low cost deposits of iron magnetite; the general level of global economic activity; failure to complete the FS; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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