Metals and Mining
Company Overview of Macarthur Lithium Pty Ltd.
Macarthur Lithium Pty Ltd. offers lithium exploration services. The company was formerly known as Macarthur Operations Pty. Ltd. and changed its name to Macarthur Lithium Pty Ltd. in February 2016. The company was founded in 2015 and is based in Brisbane, Australia. Macarthur Lithium Pty Ltd. operates as a subsidiary of Macarthur Minerals Limited.
Brisbane, QLD 4000
Founded in 2015
Key Executives for Macarthur Lithium Pty Ltd.
Macarthur Lithium Pty Ltd. does not have any Key Executives recorded.
Macarthur Lithium Pty Ltd. Key Developments
Macarthur Minerals Plans IPO On ASX
Oct 28 16
Macarthur Minerals Limited (OTCPK:MMSD.F)'s board has resolved to progress an Australian Securities Exchange initial public offering (IPO) of Macarthur Lithium Pty Ltd. and Macarthur Iron Ore Pty Ltd. David Taplin, president, chief executive officer and director of Macarthur Minerals, commented, "The board of Macarthur Minerals believes that an ASX IPO of its Australian subsidiaries, which hold its Australian hardrock lithium and iron ore projects, will provide improved price realization for those projects more consistent with its ASX-listed peers. Work has already commenced on the ASX IPO process for the Australian subsidiaries. Australian investment and wealth management firm, Shaw and Partners, has expressed interest in acting as lead manager for the ASX IPO. An IPO of the Australian subsidiaries will provide Macarthur Minerals with a well-funded listed entity to advance development of the Australian lithium and iron ore projects."
Macarthur Lithium Pty Ltd Enters into Farm in on its Australian Lithium Acreage at Ravensthorpe
Jul 12 16
Macarthur Minerals Limited announced that it has agreed to enter into a farm-in with Canadian lithium Company for part of the company's Australian lithium acreage at Ravensthorpe, covering an area of 91 square kilometres, for minimum expenditure of AUD 2 million. The company through Macarthur Lithium Pty Ltd. (MLi) and Zadar Ventures Limited have entered into a binding MOU for entering into a Farm-in Agreement (FIA) for lithium exploration on the company's Ravensthorpe lithium acreage. The key terms of the MOU are: the company and ZAD will enter into a FIA for the Ravensthorpe lithium acreage within 4 months; entry into the FIA is conditional upon ZAD conducting due diligence within 3 months to confirm that the Ravensthorpe acreage is prospective for lithium and for the company to conduct due diligence on ZAD. ZAD will initially earn into 51% of the avensthorpe lithium acreage by expending a total of AUD 2,000,000 within 2 years from the grant of the Ravensthorpe exploration licences. ZAD will earn into an additional 24% of the Ravensthorpe lithium acreage taking its total interest to 75% upon completing a positive NI43-101. Preliminary Economic Assessment (PEA) within 3 years from the grant of the Ravensthorpe exploration licences. MLi have a free carried interest during and after farm-in, for the life of the Ravensthorpe tenure and any related project, of not less than 25%; the company will manage the Ravensthorpe lithium exploration program and will be paid a project management fee of 15% of total expenditure until ZAD has completed a positive NI 43-101 PEA. ZAD will pay for all expenditure and project management fees in advance and MLi will be reimbursed all its associated costs in full. Once ZAD has acquired 75% interest in the Ravensthorpe lithium acreage, ZAD will have the first right to offer to purchase MLi's remaining 25% interest. If ZAD does not meet expenditure of AUD 200,000 in the first 3 months after the FIA has been entered into or by the time exploration licences are granted, whichever is later, the FIA will end and 100% of the ownership of the Ravensthorpe lithium acreage will revert back to MLi. If ZAD does not complete a positive NI 43-101 PEA, a joint venture will be formed (ZAD 51% and MLi 49%), whereby MLi continues to have free carried interest of 25%, effectively only contributing to 24% of expenditure. The FIA, although not envisaged, may be subject to regulatory approval.
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