Macarthur Minerals Announces Board Changes
May 21 2019 - 7:00AM
Macarthur Minerals Limited (TSX-V: MMS) (OTCQB:
MMSDF) (the “Company” or “Macarthur”) is pleased to
announce the appointment of New York based portfolio manager Andrew
Suckling to the Board of Directors as a Non-Executive Director,
subject to TSX-V approval and the retirement of David Lenigas.
Mr. Suckling is Non-Executive Chairman of the
Board of Cadence Minerals PLC, one of Macarthur’s largest
shareholders, and has over 25 years’ experience in the commodity
industry. He began his career as a trader on the London Metal
Exchange (LME) for Metallgesellschaft (MG). In that role, he
established a trading presence in China for MG setting up a
representative office in Shanghai in 1997. He then became a partner
and trader with the New York based multi-billion fund manager
Ospraie Management, LLC. In addition to his role as Executive
Chairman at Cadence he is the founding principal and portfolio
manager for Verulam, a discretionary commodity fund. Mr. Suckling
is a graduate of Brasenose College, Oxford University earning a BA
(Hons) in Modern History in 1993 and an MA in Modern History in
2000.
Cameron McCall, Executive Chairman of
Macarthur Minerals commented;
“Andrew Suckling is a welcome addition to our
board of directors with his commodity trading skills and extensive
financial sector experience, at such an exciting juncture in the
Company’s history, especially as we move forward with our Lake
Giles Iron Project. His presence on the board of directors will be
invaluable when dealing with potential project financiers and
investors particularly in the US, where he is based.”
“On behalf of the Board, I would like to thank
David Lenigas for his 3 years of unwavering support as an
Independent Director of Macarthur and his continued strong belief
in the long term potential of the Company’s Lake Giles Iron
Project. David’s support and relentless efforts to fund Macarthur’s
projects through the downturn in Canadian junior mining and a
depressed global commodity market, has ensured that the Company is
now well positioned to move forward.”
ABOUT MACARTHUR MINERALS LIMITED (TSX-V:
MMS) (OTCQB: MMSDF)
Macarthur Minerals Limited is an iron ore
development, gold and lithium exploration company that is focused
on bringing to production its Western Australia iron ore projects.
The iron ore projects are Ularring hematite (approved for
development) and the one plus billion tonne Moonshine magnetite.
Macarthur Minerals has prominent (~1,130 square kilometer tenement
area) gold, lithium, nickel, cobalt exploration interests in
Pilbara region of Western Australia. In addition, Macarthur
Minerals has lithium brine Claims in the emerging Railroad Valley
region in Nevada, USA.
On behalf of the Board of
Directors,MACARTHUR MINERALS LIMITED
“Cameron McCall”Cameron McCall, Executive
Chairman
Company ContactJoe Phillips,
CEO and DirectorEmail:
jphillips@macarthurminerals.comTelephone: +61
448899247
Website: www.macarthurminerals.com
For further information please contact: Investor Cubed
Inc.:
Neil SimonE-mail:
nsimon@investor3.caTelephone: (647)
258-3310Fax: (416) 363-7977
THIS NEWS RELEASE IS NOT FOR
DISTRIBUTION TO UNITED STATES SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Caution Regarding Forward Looking
StatementsCertain of the statements made and information
contained in this press release may constitute forward-looking
information and forward-looking statements (collectively,
“forward-looking statements”) within the meaning of applicable
securities laws. The forward-looking statements in this press
release reflect the current expectations, assumptions or beliefs of
the Company based upon information currently available to the
Company. With respect to forward-looking statements contained in
this press release, assumptions have been made regarding, among
other things, the timely receipt of required approvals, the
reliability of information, including historical mineral resource
or mineral reserve estimates, prepared and/or published by third
parties that are referenced in this press release or was otherwise
relied upon by the Company in preparing this press release.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and no
assurance can be given that these expectations will prove to be
correct as actual results or developments may differ materially
from those projected in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include fluctuations in exchange rates
and certain commodity prices, uncertainties related to mineral
title in the project, unforeseen technology changes that results in
a reduction in iron ore demand or substitution by other metals or
materials, the discovery of new large low cost deposits of iron
ore, uncertainty in successfully returning the project into full
operation, and the general level of global economic activity.
Readers are cautioned not to place undue reliance on
forward-looking statements due to the inherent uncertainty thereof.
Such statements relate to future events and expectations and, as
such, involve known and unknown risks and uncertainties. The
forward-looking statements contained in this press release are made
as of the date of this press release and except as may otherwise be
required pursuant to applicable laws, the Company does not assume
any obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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