Update - European Metals Holdings

RNS Number : 5587S

Cadence Minerals PLC

03 October 2017

 

Cadence Minerals Plc

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

European Metals Holdings - MoU Signed with Czech Government on Cinovec Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that European Metals Holdings Limited ("European Metals") (ASX & AIM: EMH) has signed a Memorandum of Understanding ("MoU") with The Ministry of Industry and Trade of the Czech Republic regarding the development of the Cinovec Project.

Cadence has a 20.4% equity stake in European Metals. The full release can be found at: Memorandum of Understanding Signed with Czech Govt .

Highlights from the European Metals Release

The MoU expresses mutual willingness to:

·      work together to maximise downstream processing options within the Czech Republic

·      investigate suitable locations for processing facilities for the Cinovec Project

·      co-operate to ensure all regulatory requirements are met

·      discuss and explore possibilities of future bilateral agreements

·      support and facilitate investment linked with these activities

·      continue to co-operate with the Czech academic research bases.

Kiran Morzaria, Chief Executive Officer of Cadence, commented:

"It is highly encouraging to see the progress being made by European Metals with the government of the Czech Republic and local officials. The early engagement with stakeholders on a project of this magnitude is an important factor in determining its successful development."

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For further information, please contact.
Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)	[phone]
James Joyce
James Bavister
Hannam & Partners LLP (Joint Broker)	[phone]
Neil Passmore
Giles Fitzpatrick
Square1 Consulting	[phone]
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 £25 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.

 

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