Update - Yangibana - Hastings Technology Metals

RNS Number : 6378D

Cadence Minerals PLC

27 June 2019

 

Cadence Minerals Plc

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

Hastings Technology Metals (ASX: HAS) - EPA (Environmental Protection Authority) recommends Environmental Approval for a Proposal to Mine & Process Rare Earths at Yangibana Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that Hastings Technology Metals (ASX: HAS) ("Hastings") has advised that the EPA has publicly released the Yangibana Rare Earths Project report, which is now open for a 2-week public appeal period, before being submitted to the Minister of Environment for final approval.

Cadence owns 30% of the Yangibana North., Gossan, Hook, Kanes Gossan, Lions Ear and Bald Hill North Rare Earth Deposit which form part of the Yangibana Rare Earth Deposit. Probable Ore Reserves of some 2.1 million tonnes at 1.66% total rare earth elements are contained within 30% owned joint venture tenements. Further details of these reserves and pre-feasibility study can be found at: http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=2688632.

Highlights from Hastings News Release:

·   Hastings has secured the next step in the approvals process allowing it to maintain construction commencement guidance for 2019 subject to final finance arrangements.

·    Yangibana has undergone a very thorough environmental impact assessment to the satisfaction of the Western Australian EPA, Department of Mines, Industry Regulation and Safety, and the Department of Water and Environmental Regulation and other key stakeholders.

The EPA considers impacts to water and human health were unlikely to be significant and could be managed under Part V of the Environmental Protection Act 1986, the Rights in Water Irrigation Act 1914, the Radiation Safety Act 1975, the Mines Safety and Inspection Act 1994 and the Mining Act 1978.

The proposal includes the development of five open mine pits, groundwater abstraction, on-site processing of ore, tailings storage facilities, access and haul roads and supporting infrastructure such as accommodation facilities, administration buildings and an airstrip.

Full Hastings ASX announcement here:

https://www.asx.com.au/asxpdf/20190627/pdf/4464xmxkn6xr63.pdf

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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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