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 […]
Tag: Cadence Minerals plc
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% […]
Bynoe sampling shows ‘large’ lithium anomalism
Cadence Minerals plc said a new “large and significant” lithium anomalism had been identified from first results of geochemical soil sampling at Bynoe in the Northern Territory. DRILL Operator Evergreen Lithium Ltd, of which the company holds 8.78%, collected the batches from the tenement’s central area “demonstrating the widespread nature of potential mineralisation in the […]
Cadence asks to meet Mexico Government over Sonora
Cadence Minerals plc has asked to meet the Mexican Government over the as yet unverified revocation of its Sonora lithium mining concessions and “related acts and omissions by Mexico”. TREATY The concessions include those granted to Mexilit S.A. de CV and Minera Megalit S.A. de CV, in which Cadence holds a 30% stake through its […]
Cadence Minerals CEO increases shareholding
Cadence Minerals plc chief executive and director Kiran Morzaria increased his holding in the company by 100,806 ordinary shares each for 0.074 pence. Following the purchase, Mr Morzaria now has 1,573,240 ordinary shares in Cadence. Finance director Donald Strang owns 957,545 ordinary shares; non-executive chairman Andrew Suckling 381,602; and non-executive director Adrian Fairbourn 731,005.