Update - Macarthur Minerals

RNS Number : 7742Q

Cadence Minerals PLC

21 February 2019

 

Cadence Minerals Plc

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

Macarthur Minerals (TSX-V: MMS) Lists on OTCQB and Comments on Iron Ore Price Surge.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) ("Macarthur") today announced that it has joined the OTC marketplace, OTCQB. The OTCQB Venture Market offers the benefits of being publicly traded in the United States to expand Macarthur's access to investors, engage them with quality disclosure of financials and provide trading transparency to stimulate liquidity. Investors can find current financial disclosure and Real-Time level 2 quote for Macarthur on www.otcmarkets.com. Macarthur trades in the United States on OTCQB under the symbol "MMSDF".

Cameron McCall, Chairman of Macarthur Minerals. Mr. McCall said:

"Global Markets have recently seen iron ore prices surge dramatically on the reduced supply as a result of the shutdowns and disasters that have occurred in Brazil, a leading producer of Iron Ore. states aWith continued demand and a significant supply reduction Macarthur is well positioned to advance the Ularring Hematite and Moonshine Magnetite Projects located 175km northwest of Kalgoorlie, Western Australia into production in a timely manner."

The full Macarthur release can be found at: https://web.tmxmoney.com/article.php?newsid=7965805934807637&qm_symbol=MMS

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.

Cadence Minerals CEO Kiran Morzaria commented: "On behalf of Cadence Minerals, we fully support the move by Macarthur to list on the OTCQB and thereby expand its investor reach. In addition, the reduction in iron ore supply and consequential surge in price further strengthens the Macarthur investment proposition."

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 Hannam & Partners LLP (Joint Broker)                                 [phone] Neil Passmore Giles Fitzpatrick 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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