Cadence Minerals PLC Update - European Metals Holdings (7053Z)
September 04 2018 - 4:42AM
UK Regulatory
TIDMKDNC
RNS Number : 7053Z
Cadence Minerals PLC
04 September 2018
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
European Metals (AIM: EMH) Cinovec Project Update - Significant
Advancements.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note
the update published today by European Metals Holdings Limited
("European Metals") highlighting recent significant advancements
made in the development of the Cinovec Lithium-Tin Project
("Cinovec").
Highlights:
-- Work has commenced on an update of the Preliminary
Feasibility Study to model the production of higher value lithium
hydroxide due to its increasing use in lithium ion batteries. This
study will be finalised later this month.
-- Leach recoveries of 94-95% lithium have been replicated in
recently completed confirmatory laboratory scale roasting and water
leaching tests in Germany. Locked cycle testwork will commence post
the lithium hydroxide study to model the selected route.
-- Licences have been granted for the commencement of geotechnical drilling at Cinovec.
Cadence holds approximately 20% of the equity in European
Metals, which, through its wholly owned Subsidiary, Geomet s.r.o.,
controls the mineral exploration licenses awarded by the Czech
State over Cinovec.
The full release can be found at:
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13777367.html
Cadence Minerals CEO Kiran Morzaria commented: "As we have
stated previously, the strategic importance of the Cinovec Lithium
project as a future supply hub for the European EV and battery
industry cannot be overstated."
"The developments announced today by Keith Coughlan and the
European Metals team keeps the project aligned with Czech and
European industry requirements for lithium product, and also
provides a significant improvement to Cinovec economics."
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
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.
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
MSCSSFSALFASELU
(END) Dow Jones Newswires
September 04, 2018 04:42 ET (08:42 GMT)
Cadence Minerals (LSE:KDNC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cadence Minerals (LSE:KDNC)
Historical Stock Chart
From Jul 2023 to Jul 2024