Cadence Minerals PLC Update - Auroch Minerals (5714U)
July 13 2018 - 3:58AM
UK Regulatory
TIDMKDNC
RNS Number : 5714U
Cadence Minerals PLC
13 July 2018
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals (ASX: AOU) Awards Drill Contract for Maiden
Drilling Programmes.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note
that the momentum at Auroch Minerals (ASX: AOU) Arden and
Bonaventura Projects continues to build. Auroch has partnered with
DDH1 Drilling for what it refers to as an 'aggressive maiden
drilling programme', targeting up to 5,000m of high-grade
base-metals and/or gold mineralisation across seven high-priority
target areas. The drilling is expected to commence this month.
Highlights:
-- Maiden exploration drill programmes to be undertaken by DDH1 Drilling
-- Drilling is expected to commence this month, with up to
5,000m of RC and diamond drilling planned concurrently at Arden and
Bonaventura Projects
-- Arden drill programme to target high-grade zinc, copper and
cobalt mineralisation across 3 identified prospects
-- Bonaventura drill programme to explore for high-grade zinc,
copper and gold mineralisation across 4 high-priority target
areas
-- Drilling programmes are fully-funded from strong balance sheet
Cadence currently owns approximaltey 7% of the equity in Auroch
Minerals, which is an exploration company targeting principally
zinc, cobalt and lithium.
The full release can be found at:
http://www.investi.com.au/api/announcements/aou/83100bdc-52e.pdf
Cadence Minerals CEO Kiran Morzaria commented: "Following on
from the early IP survey results, we are as enthused as the
management team at Auroch at the quite exceptional potential of the
prospects at Arden and Bonaventura Projects."
"Comments from Auroch CEO Aidan Platel best sum up the current
scenario: 'To have seven high-priority drill targets with great
potential for high-grade mineralisation and significant scale for
our maiden programme is quite extraordinary; we really are just
seeing the tip of the iceberg in terms of exploring the large areas
covered by our two projects."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
- Ends -
For further information:
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
Ingo Hofmaier
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.
Forward-Looking Statements:
Certain statements in this announcement are or may be deemed to
be forward-looking statements. Forward-looking statements are
identi ed 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 re ect
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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