Cadence Minerals PLC Update - Yangibana - Hastings Technology Metals (8248F)
July 17 2019 - 4:52AM
UK Regulatory
TIDMKDNC
RNS Number : 8248F
Cadence Minerals PLC
17 July 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Hastings Technology Metals (ASX:HAS) Confirms No Appeals on EPA
Recommendation of Environmental Approval for Proposal to Mine &
Process Rare Earths at Yangibana.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to
announce Hastings Technology Metals (ASX:HAS) ("Hastings"),
Cadence's joint venture partner at the Yangibana Rare Earth Project
in the Gascoyne region of Western Australia ("Yangibana Project"),
has announced that the Appeals Registrar (WA Office of the Appeals
Convenor) has not received any appeals on the EPA Assessment
Report, which recommends approval of the Yangibana Project subject
to the proposed conditions.
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:
-- The Appeals Registrar (WA Office of the Appeals Convenor) has
notified Hastings that they have received no appeals on the EPA's
recommendation to approve the Yangibana Project.
-- Next step in the approvals process is consultation with the
Decision Making Authorities ("DMAs"), i.e. Ministers for Water,
Mines and Aboriginal Affairs to obtain their agreement to the
implementation of the project in accordance with the proposed
conditions.
The DMAs will be provided with the draft conditions (as detailed
in the EPA Assessment Report) for their consideration and must then
provide their agreement to the implementation of the proposal
subject to the draft conditions. The Minister for Environment will
then consider the proposal and EPA recommendation.
The Yangibana project includes the development of five open pit
mines, 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.
The full release can be found at:
https://www.asx.com.au/asxpdf/20190717/pdf/446p7m8wcdgm40.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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