Macarthur Minerals’ (TSXV:MMS) CEO, Joe Phillips, spoke to The Market Herald’s Sonia Madigan about its prospective Lake Giles Iron Project and its 1.3 billion tonnes magnetite resource.
Recently, the company stated it has completed all the required major permitting and feasibility study have been at Lake Giles. Macarthur Minerals next steps for procuring its success is to head to New York City to assess financing and partnerships at EAS consulting, where it will join forces with its preferred investment banking team.
However, the company isn’t immune to today’s political climate. It stated some challenges it’s currently facing are a result of overall economic concerns in market, an inflationary environment, the Russia and Ukraine war, and continuing disruptions to supply chains.
According to the company, samples available for its Lake Giles deposit paints a picture of prospectivity. The project is in the final stage of development and is reaching its final milestone of funding to generate long-term wealth.
Macarthur Minerals believes its finances are secure with iron ore being a global staple and having its relationships with large consumer counties like China, Japan, and Korea. It also feels that construction and fiscal stimulus are reliable market in economic hardship and the company is poised to supply these initiatives.