Source - RNS
RNS Number : 1417K
Cadence Minerals PLC
06 April 2018
 

 

Cadence Minerals Plc

 

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

 

Bacanora Lithium Update

 

Sonora Project in Mexico

  

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Bacanora Lithium plc ("Bacanora") (AIM: BCN), the London-listed lithium company, has updated on the workstreams on its flagship Sonora Lithium Project and remains on course to embark on the construction phase at Sonora in H1 2018. The Feasibility Study estimated the capital cost for the Stage 1 production of 17,500tpa of lithium carbonate at Sonora at US$420M. The Company continues to finalise its debt and equity financing strategy with its financial advisors.

 

Cadence holds approximately 8% of Bacanora's equity.

 

The full release can be found at: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BCN/13594184.html

 

Kiran Morzaria, Chief Executive Officer of Cadence, commented:

"We are pleased that the construction phase at Sonora is on course with production due to commence in the first quarter of 2020."

 

- Ends -

 

For further information, please contact.




Cadence Minerals plc

+44 (0) 207 440 0647

Andrew Suckling


Kiran Morzaria




WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford




Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore


Giles Fitzpatrick




Square1 Consulting

+44 (0) 207 929 5599

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 GBP20 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.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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