DJ Cadence Minerals PLC Update - Macarthur Minerals
RNS Number : 5170E
Cadence Minerals PLC
04 July 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals (TSX-V: MMS) says FE Limited Exercises Its Option to Earn in on the Pilbara Tenements for Lithium and Gold.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) ("Macarthur") that FE Limited (ASX: FEL) has elected to exercise its option with Macarthur Lithium Pty Ltd (MLi), a wholly owned subsidiary of Macarthur Minerals, that forms part of the Option Agreement to earn-in up to 75% interest in the Company's gold, copper and lithium tenements in the Pilbara Region of Western Australia, as previously announced on May 14, 2019.
During the due diligence period FEL's geological team conducted site visits over the tenements. Macarthur will review and prioritise the tenement portfolio along with the associated exploration expenditure.
Cadence holds approximately 10% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7248636579664323&qm_symbol=MMS
This news release is not for distribution to United States Services or for Dissemination in the United States.
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For further information: 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 Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400 Jon Belliss
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.
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identi ed by their use of terms and phrases such as "believe" "could" "should" "envisage" "estimate" "intend" "may" "plan" "will" or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.
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(END) Dow Jones Newswires
July 04, 2019 05:39 ET (09:39 GMT)