DJ Cadence Minerals PLC Update - Macarthur Minerals
RNS Number : 6068Y
Cadence Minerals PLC
06 December 2017
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals Update
Strategic Alliance for Lithium Brine Exploration in Railroad Valley, Nevada
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to report that Macarthur Minerals Limited (TSX-V: MMS) has announced that it has entered into a strategic alliance with 3PL Operating Inc ("3PL") for exploration of Macarthur's lithium brine Reynolds Springs Project in the Railroad Valley in Nye County, Nevada.
3PL has a wealth of experience in drilling, development and production of oil and gas, which is similar to lithium development since the metal is contained in liquid brines and also produced from shallow wells. The alliance contemplates the appointment of 3PL, to drill or re-enter existing oil wells on the Railroad Valley playa for the purpose of obtaining brine samples and evaluating lithium concentrations at the Reynolds Springs Project.
Cadence has a 15.2% equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium, iron ore and gold in the Pilbara region of Western Australia. It also has the lithium project in Nevada, USA referred to above.
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=8864053791496788&qm_symbol=MMS
Kiran Morzaria, Chief Executive Officer of Cadence, commented:
"The Railroad Valley has emerged as potentially the largest lithium brine deposit in Nevada and Macarthur has formed a strategic alliance with an established operator in the area of Macarthur's interests."
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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 Sinclair-Ford 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
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December 06, 2017 11:17 ET (16:17 GMT)