Cadence Minerals plc and its joint venture partners have executed a binding US$4.6 million prepayment off-take agreement, relating to the Amapá iron ore project, in northern Brazil. CASHFLOW The company, together with Pedra Branca Alliance Pte Ltd and DEV Mineração S.A., will receive the funds from its chosen off-take partner. Repayment will be through per tonne of iron ore […]
Tag: Amapá iron ore – northeast Brazil
Cadence raises £750,000 for Amapá
Cadence Minerals plc has raised a total £750,000 via an 18% discounted placing and a directors’ subscription for the Amapá iron ore project in northeast Brazil. AMAPA The company raised £625,000 before expenses by placing 25 million new ordinary shares, at 2.5 pence per ordinary share. Non-executive chairman Andrew Suckling, chief executive Kiran Morzaria, and […]
Cadence progresses towards Amapá construction
Cadence Minerals plc has submitted further documents for the approval process to start construction at the Amapá iron ore project in Brazil. GREEN IRON The environmental control plan (PCA) and the environmental control report (RCA) were given ahead of schedule for the mine and railway. The PCA and RCA are part of the environmental approval […]
Cadence raises £500,000 from single investor
Cadence Minerals plc has raised £500,000 via a 43% discounted placing of 16,666,667 new ordinary shares in company at a price of 3 pence per ordinary share with a single institutional investor. USES The company also issued to the subscriber one warrant for each new ordinary share. The fundraise warrants grant rights to subscribe for […]
Cadence finds 33% savings for Amapá plant-production
Cadence Minerals plc has identified savings of 33% for processing plant recommissioning and increased production at the Amapá iron ore project in northeast Brazil. REDESIGN A capital expenditure optimisation programme, conducted at pre-feasibility level, showed US$63.2 million savings associated with the plant. This sees costs fall from $191.7m to $128.5m. Forecast increased production is approximately […]
Cadence aims to cut costs and extend Amapá
Cadence Minerals plc expects to save costs and could extend operations at the Amapá iron ore project in northeast Brazil. FINANCING Nearly complete optimisation studies will reduce plant capital expenditure and an additional processing flow sheet aims to increase product quality to 67% iron ore concentrate. This contrasts with the previously proposed 62% and 65% […]