Macarthur Minerals Lake Giles Update

RNS Number : 9866J

Cadence Minerals PLC

22 August 2019

 

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Macarthur Minerals (TSX-V: MMS) Update on the Lake Giles Iron Ore Project Update.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) ("Macarthur") outlining recent activities advancing the Lake Giles Iron Ore Project in the Yilgarn Region of Western Australia.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 9.8% 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.

Lake Giles Developments

Diamond and RC drilling infill programme has commenced to support a resource category upgrade and obtain samples for metallurgical test work.

Development of the Commercial and Technical capabilities in the Company to deliver the completion of a Bankable Feasibility Study.

Application for in-principle advice seeking consideration from the Australian Stock Exchange ("ASX") for a proposed dual listing of the Company.

Discussions with commercial partners for power and water supply, mining services, road and rail haulage, port infrastructure development and process plant design and construction.

Macarthur will release more detailed information to the market on these key project developments as they are finalized.

The full Macarthur release can be found at: https://web.tmxmoney.com/article.php?newsid=5431321825042125&qm_symbol=MMS

Cadence CEO Kiran Morzaria commented; "The Cadence board remain enthused by the considerable scope of the Lake Giles iron ore project. We note CEO Cameron McCall's comments regarding the proposed dual listing and completion of the Feasibility study, and look forward to further progress."

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                                                    [phone] Andrew Suckling Kiran Morzaria WH Ireland Limited (NOMAD & Broker)                                 [phone] James Joyce James Sinclair-Ford Novum Securities Limited (Joint Broker)                                 [phone] Jon Belliss

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.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified 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 reflect 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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