Macarthur Minerals Receives AU$250,000 Payment From Gold Valley Yilgarn For Western Australia Iron Ore Project Rights

MT Newswires Live

Jan 09, 2025

Macarthur Minerals (ASX:MIO) received the final and third payment of AU$250,000 from Gold Valley Yilgarn under a binding agreement granting Gold Valley the right to mine hematite ore from Macarthur's Lake Giles Ularring project in Western Australia, according to a Thursday filing with the Australian bourse.

The payment was due Dec. 31, 2024.

Macarthur will receive a royalty of AU$1 per tonne for all additional tonnes mined for the life of the mine after an initial 2 million dry metric tonnes.

Under the agreement, Macarthur will receive milestone payments of AU$5 million upon the extraction and sale of 1 million dry metric tonnes as well as another AU$5 million upon the extraction and sale of an additional 1 million dry metric tonnes of direct shipping ore by Gold Valley from the project.

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