Macarthur Minerals Limited (TSX-V:MMS) chief executive officer Joe Phillips updates Proactive Investors on recent preliminary economic assessment results at its Lake Giles Iron Ore Project in Western Australia.
Phillips notes the company reduced its operational expenditure as well as overall capital costs for the project.
“Over the last 10 years Macarthur has produced two preliminary economic assessments and a pre-feasibility study,” says Phillips. “They were both standalone projects for hematite and magnetite – over the last 6 weeks we’ve actually combined those two studies together.”