Macarthur completed a spinout of its (~721 square kilometre tenement area) gold, lithium and copper exploration assets in the Pilbara region of Western Australia through an initial public offering (“IPO”) of Infinity Mining Ltd (Infinity).  Infinity, under Australian Securities Exchange (ASX) ticker IMI was admitted to the Official list of ASX on 20 December 2021 and commenced trading on 22 December 2021 at 3.00 pm AEDT^[1].

Effective from 20 December 2021, Infinity exited the Macarthur Group.  Macarthur Australia Limited, a wholly owned subsidiary of Macarthur, as a Seed Capitalist owns a 20.74% holding in Infinity and became a substantial holder.

On listing, Infinity raised A$10 million for the ongoing development of these non-iron assets. With a total footprint in the Pilbara of 697 square kilometres covering key greenstone belts, this is an important investment for the Company’s shareholders.

[1] Press Release filed 22 December 2021, titled “Macarthur’s spinout of Infinity Mining Limited launched on the ASX”.