Cadence Minerals PLC Update - Yangibana - Hastings Technology Metals (6378D)
June 27 2019 - 4:35AM
UK Regulatory
TIDMKDNC
RNS Number : 6378D
Cadence Minerals PLC
27 June 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Hastings Technology Metals (ASX: HAS) - EPA (Environmental
Protection Authority) recommends Environmental Approval for a
Proposal to Mine & Process Rare Earths at Yangibana
Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to
announce that Hastings Technology Metals (ASX: HAS) ("Hastings")
has advised that the EPA has publicly released the Yangibana Rare
Earths Project report, which is now open for a 2-week public appeal
period, before being submitted to the Minister of Environment for
final approval.
Cadence owns 30% of the Yangibana North., Gossan, Hook, Kanes
Gossan, Lions Ear and Bald Hill North Rare Earth Deposit which form
part of the Yangibana Rare Earth Deposit. Probable Ore Reserves of
some 2.1 million tonnes at 1.66% total rare earth elements are
contained within 30% owned joint venture tenements. Further details
of these reserves and pre-feasibility study can be found at:
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=2688632.
Highlights from Hastings News Release:
-- Hastings has secured the next step in the approvals process
allowing it to maintain construction commencement guidance for 2019
subject to final finance arrangements.
-- Yangibana has undergone a very thorough environmental impact
assessment to the satisfaction of the Western Australian EPA,
Department of Mines, Industry Regulation and Safety, and the
Department of Water and Environmental Regulation and other key
stakeholders.
The EPA considers impacts to water and human health were
unlikely to be significant and could be managed under Part V of the
Environmental Protection Act 1986, the Rights in Water Irrigation
Act 1914, the Radiation Safety Act 1975, the Mines Safety and
Inspection Act 1994 and the Mining Act 1978.
The proposal includes the development of five open mine pits,
groundwater abstraction, on-site processing of ore, tailings
storage facilities, access and haul roads and supporting
infrastructure such as accommodation facilities, administration
buildings and an airstrip.
Full Hastings ASX announcement here:
https://www.asx.com.au/asxpdf/20190627/pdf/4464xmxkn6xr63.pdf
- 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
Novum Securities Limited (Joint
Broker) +44 (0) 207 399 9400
Jon Belliss
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.
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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