Cadence Minerals PLC Update - Auroch Minerals (4923N)
May 09 2018 - 3:50AM
UK Regulatory
TIDMKDNC
RNS Number : 4923N
Cadence Minerals PLC
09 May 2018
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals
Alcoutim - Termination of Agreement - Portugal
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Auroch
Minerals has announced it has terminated the agreement with its
joint venture partners over the Alcoutim Project in south-eastern
Portugal. Auroch Minerals fulfilled all obligations under the
Alcoutim Prospecting Licence as required by the agreement. An
application for the renewal of the licence was submitted on time to
the DGEG (Portuguese Directorate of Energy and Geology). However,
as the licence is not yet renewed (which is a condition precedent
of the agreement), Auroch Minerals has elected to terminate the
agreement.
Auroch Minerals is now focused on the recently acquired Arden
and Bonventura projects located in the world class mining region of
South Australia
Cadence currently owns a 7.7% equity stake in Auroch Minerals,
which is an exploration company targeting principally zinc, cobalt
and lithium.
The full release can be found at:
https://wcsecure.weblink.com.au/pdf/AOU/01979913.pdf
- Ends -
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
Qualified Person
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 GBP20 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
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