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Macarthur Minerals seeks IPO for Aussie assets, says REM

Monday, October 31, 2016 3:17
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Macarthur Minerals (CVE:MMS), in which Rare Earth Minerals plc (LON:REM) owns a 15.5% stake, wants to list its lithium and iron ore assets on the Australian Securities Exchange.

Macarthur chief David Taplin said the firm believed an ASX initial public offering (IPO) of its Australian subsidiaries would give the projects a valuation 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,” he said, adding that Macarthur would retain majority ownership and control of the listed entity.

Its lithium hard rock acreage covers an area of 2,029 sq km and initial reconnaissance acreage has been encouraging.

In Australia, the firm owns the Ularring Hematite and the Moonshine Magnetite projects in the Yilgarn region of Western Australia.

Story by ProactiveInvestors

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