DJ Cadence Minerals PLC Update - Macarthur Minerals
RNS Number : 4723T
Cadence Minerals PLC
12 October 2017
12 October 2017
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals - New Tenement Acquired in Pilbara, Western Australia
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that that Macarthur Minerals Ltd (TSX-V: MMS) has entered into an agreement to acquire 100% of granted exploration license E45/4764 covering an area of 13 square kilometers in the Pilbara region of Western Australia ("Tenement"). The Tenement sits adjacent to the tenements part of the Macarthur's farm-in deal with Artemis Resources Ltd, as announced on 28 September 2017.
Cadence has a 15.7% equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium and iron ore in the Pilbara region of Western Australia. It also has a lithium project in the USA.
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6633437705258569&qm_symbol=MMS .
Kiran Morzaria, Chief Executive Officer of Cadence, commented:
"We are pleased that Macarthur Minerals has enlarged its position in the Pilbara region with the new tenement bringing in an exciting new target for exploration."
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For further information, please contact. Cadence Minerals plc +44 (0) 207 440 0647 Andrew Suckling Kiran Morzaria WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666 James Joyce James Bavister Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500 Neil Passmore Giles Fitzpatrick Square1 Consulting +44 (0) 207 929 5599 David Bick
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.
About Cadence Minerals:
Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale - upcoming supersized passenger vehicles, lorries and buses - require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over GBP25 million vested in key assets globally, Cadence is helping us reach tomorrow, today.
Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.
The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.
This information is provided by RNS
The company news service from the London Stock Exchange
(END) Dow Jones Newswires
October 12, 2017 08:59 ET (12:59 GMT)