Cadence Minerals PLC Yangibana Update (3597B)
April 03 2017 - 5:18AM
UK Regulatory
TIDMKDNC
RNS Number : 3597B
Cadence Minerals PLC
03 April 2017
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Yangibana Update
Cadence (AIM/NEX: KDNC; OTC: REMMY) is pleased to report that
Hastings Technology Metals Limited ("Hastings"), REM's 70% joint
venture partner in the Yangibana Neodymium Project ("Yangibana") in
Western Australia, has announced that mine permitting applications
for Yangibana have been lodged.
The full Hastings release is available at:
https://gallery.mailchimp.com/6cc38f730035ae0a04d99359c/files/68159242-acc8-47e8-8d80-ba61f857f797/HAS_20170322_Permitting_FINAL.pdf
HIGHLIGHTS
-- Environmental Impact Assessment (EIA) lodged with Western
Australia (WA) Environmental Protection Authority (EPA)
-- Referable Submission lodged with Commonwealth Department of Environment and Energy
-- Preliminary Mine Development Proposal (MDP) lodged with WA
Department of Mines and Petroleum (DMP)
-- Commencement of iterative reviews of the applications with
EPA and DMP to map out approval timelines
Hastings is pleased to advise that it has lodged the EIA for its
Yangibana Nd-Pr Rare Earths project with the EPA. A Referral
Submission was also lodged with the Commonwealth Department of
Environment and Energy. Under the Commonwealth and State Approval
system, the EPA is the reviewing agency acting on behalf of WA and
the Commonwealth.
A preliminary MDP has been lodged with the DMP. Further studies
emanating from the Definitive Feasibility Study (DFS) are required
to be lodged at a later time to complete the MDP for final
assessment. The DFS is scheduled for completion during Q3 2017. The
lodgement of the preliminary MDP is to enable the MDP to be fast
tracked, pending further outstanding reports that will flow from
the DFS.
An iterative review process has commenced with the EPA and DMP
that will identify any areas of additional information, if
required, for the relevant permitting approvals to be granted. The
review process will also clarify the timeline for the approval
processes.
The Yangibana Nd-Pr Rare Earths project is in the Gascoyne
region of Western Australia. Hastings plans to construct a
processing plant to produce a Mixed Rare Earths Carbonate product,
through the process of mining, beneficiation and hydrometallurgy.
On completion of the Permitting, the start-up construction phase is
expected to create up to 500 jobs directly and indirectly in and
around the Gascoyne region.
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 Bavister
Square1 Consulting +44 (0) 207 929 5599
David Bick
Brian Alexander
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 GBP35 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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