Macro Metals Secures 27.3% Stake in Pilbara Extension Iron Ore Project

An update from Kogi Iron Ltd. ( (AU:M4M) ) is now available.

Macro Metals Limited has completed the acquisition of a 27.3% equity interest in Project Rusty Pty Ltd, the owner of the Extension Iron Ore Project in the Pilbara, in exchange for 175 million new shares, giving the company a direct development-stage stake in the project in addition to its existing mining services contract. The project, which hosts a JORC-compliant Indicated Mineral Resource of 16.1Mt at 54.2% Fe and can produce an 11.29Mt product at 57.16% Fe after processing, is advancing through approvals and feasibility with port access secured at Utah Point for up to 4 Mtpa from late 2026, a 200,000-tonne bulk sample and haulage studies underway, and offtake talks including potential prepayment facilities, positioning Macro to expand shareholder value as the project targets first ore in Q4 2026 and first shipments in early 2027.

More about Kogi Iron Ltd.

Macro Metals Limited is an ASX-listed resources company focused on iron ore in Western Australia’s Pilbara region. Through its wholly owned subsidiary Macro Mining Services, the company also provides life-of-mine mining services including technical services, mine development, mining, crushing and screening, and management of sales, marketing and shipping for iron ore projects.

Technical Sentiment Signal: Sell

Current Market Cap: A$30.24M

Learn more about M4M stock on TipRanks’ Stock Analysis page.