Iron-ore developer and lithium explorer Macarthur Minerals is aiming for a dual listing on the ASX before the end of the year, which executive chairperson Cameron McCall says should provide sufficient funding to continue the advancement of its flagship Lake Giles project, in Western Australia.
The company is currently listed on the TSX-V.
Macarthur has received “in-principle” advice from the ASX, which confirmed the company’s suitability for listing.
“The board of Macarthur is excited about the prospect of dual listing in Australia and considers that the benefits of doing so will include providing the company with increased opportunities to access capital from wholesale investors and an enhanced opportunity for retail investors in Australia to participate in the advancement of the company’s projects,” says McCall.
The Lake Giles iron-ore project includes the 80-million-tonne Ularring hematite resource, which is approved for development, and the 710-million-tonne Moonshine magnetite resource.
Macarthur has prominent gold, lithium and nickel exploration interests in the Pilbara region of Western Australia.
In addition, the company has lithium brine claims in the emerging Railroad Valley region in Nevada, in the US.