Macarthur Minerals Fourth Quarter Update - Seite 2

Over the course of the year, 50 news releases were issued, ensuring shareholders have and will continue to be kept informed of the Company’s progress.

2021 Calendar Year Goals

Macarthur is well placed to deliver on its stated 2021 goals:

• Completing the Feasibility Study which includes securing a strategic partner for project development;
• Concluding the route to market contract to support export through the Esperance Port; and
• Advancing terms of financing the project commencing 2023.
  

In addition to the Lake Giles project, the Company will also focus on a series of complementary goals. These will include:

• To take advantage of a commercial early production opportunity for the hematite resource at Lake Giles in light of current strong demand and pricing for iron ore;
• To formalize strategic partnerships for key development and infrastructure needed to commercialise the Lake Giles Iron Project; and
• To reposition the Company’s 100% owned, 720km² tenement package of lithium, gold, copper and base metals in the Pilbara region of Australia, and its lithium brine claims in the Nevada region of the USA.
  

All these stated goals will unlock unrealised value in the Company to the benefit of Shareholders.

Iron Ore Market

Current iron ore demand is all about China, and recent UBS economics forecast has China’s GDP growth rate at 8.2% in 2021. UBS economics comments also pointed to this GDP growth being driven by domestic and export-focused production, with exports of finished products to grow at 11-12% over the 2021 year.

Iron ore pricing is variable and traditionally the Chinese New Year Holidays coincide with annual steel mill shutdown and lower demand for iron ore, but a December 2020 Platts Iron Ore and Steel Outlook reported expectations amongst some analysts that iron ore pricing may be sustained in Q1, 2021.

To view the accompanying Seaborne Iron Ore Spot Price infographic please visit:
https://www.globenewswire.com/NewsRoom/AttachmentNg/11bd8477-3762-4516 ...

To view the accompanying Share Price infographic please visit:
https://www.globenewswire.com/NewsRoom/AttachmentNg/cddcbacb-fa92-4e61 ...

Andrew Bruton, Chief Executive Officer of Macarthur Minerals commented:

“My first 12 months as the incoming CEO of Macarthur will be very busy. The Company has an exciting agenda of value-driving objectives for the 2021 calendar year. Chief amongst that will be focusing on completing the Feasibility Study for our magnetite operations. I anticipate that we can materially progress commercial negotiations for infrastructure location and port access early in 2021, allowing the Company to focus on finalising the necessary metallurgy test work and process flow for magnetite beneficiation, together with the engineering design works.