Macro Metals (ASX:M4M) has completed the acquisition of a 27.3% equity interest in the Extension Iron Ore Project, marking a significant step for the company in directly participating in the development-stage of this Pilbara-based iron ore project.
The acquisition, approved by shareholders at Macro's annual general meeting on Nov. 27, was settled through the issue of 175 million fully paid ordinary shares.
The project, which hosts an indicated mineral resource of 16.1 million tonnes at 54.2% Fe, is advancing through key milestones, with first ore expected in Q4 2026 and the first shipment in Q1 2027.
Macro’s wholly owned subsidiary, Macro Mining Services, alongside strategic partner REGROUP, will deliver life-of-mine mining and technical services, including crushing, screening, and logistics management.
Access to Utah Point has been confirmed, enabling export of up to 4 million tonnes per annum, while approvals for permanent operations, bulk sampling, and haulage corridor development are progressing.
At the time of reporting, Macro Metals' share price was $0.0070.