Cadence Minerals Share Discussion Threads

[johncasey] 21/3/2019 13:00

Macarthur Minerals Signs 10 Year Iron Ore Off-Take Agreement for the Lake Giles Iron Project in Australia With Glencore International A.G.
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V: MMS) (OTCQB: MMSDF) (the “Company”; or “MacarthurR21;) is pleased to announce that it has entered into a binding Life-of-Mine Off-Take Agreement (“Agreement221;) with Glencore International A.G. (“GlencoreR21;) for sale of iron ore to be produced from the Lake Giles Iron Project (“Project̶1;) at Lake Giles in the Yilgarn region of Western Australia from the commencement of commercial production.

Cameron McCall, Executive Chairman of Macarthur Minerals commented;

“I am extremely excited to see Glencore’s commitment to purchase Macarthur’s production over the long term. Securing this approximately US$4 billion purchase arrangement ensures consistent long-term revenue to the Company. Seeing a commitment of this size validates our resource and project and puts Macarthur in a position to maximize value to our shareholders. Macarthur’s management is pursuing debt financing discussion with European banks and international financial institutions. Achieving this key milestone is the beginning for Macarthur to transition into a large scale global resource production company. A project of this size will provide long term Western Australian job creation for a generation, especially in the local region of the proposed iron ore mines and for the port workforce in Esperance.”

Transaction Highlights:

Glencore secures life-of-mine of the project with commercial terms for approximately 4 million tonnes per annum average for the first 10 years, with the option to extend for a following 10 years for all tonnes of future Lake Giles iron ore production.
Glencore agrees to release up to 70% of their off-take volume where Macarthur secures project financing from a Strategic Industry Investor, subject to their securing off-take of the product produced.
This Agreement with Glencore positions Macarthur to go forward to complete their project financing.
The Agreement is currently valued at approximately US$4 billion in revenue over the first 10-year term ensuring Macarthur long term revenue and consistent sales per year.
Terms and conditions have been competitively negotiated reflecting strong forward demand.
High grade iron ore prices:

Metallurgical test work on the Lake Giles’s Moonshine Magnetite Project indicates that an export product of high margin +65% Fe can be achieved. Current market price for 65% Fe product is quoted at US$98/tonne (A$140 per tonne).1 The value of the initial 10-year Glencore off-take at current market price for Moonshine iron ore would be ~US$4 billion.

About the Lake Giles Iron Project:

On December 13, 2018, Macarthur announced that its Lake Giles Iron Project is a significant Australian iron ore project adjacent to highly developed infrastructure suitable for iron ore exports. There is considerable spare port and rail capacity that can be utilized by the Project, with the Port of Esperance having total iron ore export capacity of 11.5 million tonnes. The Capex for a combined Moonshine Magnetite and Ularring Hematite operation is now estimated to be US$335 million. Magnetite Opex costs are estimated to be A$55/tonne free on board (“FOB”) and Opex costs of A$42/tonne FOB for hematite.

Macarthur owns 100% of the Moonshine Magnetite Project, with an Inferred and Indicated Mineral Resource Estimate consisting of 1,316 million tonnes (Mt) @ 30.1% Iron (Fe). Initial metallurgical test work from core at Moonshine indicated that a very high-grade iron ore product ranging from 68.5%-69.1% Fe, can be achieved as an export quality target.

The Inferred Mineral Resource estimate for the Moonshine Magnetite Project was initially prepared by CSA Global Pty Ltd (NI43-101 Technical Report filed December 17, 2009, titled “NI43-101 Technical Report on Lake Giles Iron Ore Project: Western Australia”) and was updated by Snowden Mining Industry Consultants (NI43-101 Technical Report filed March 25, 2011, titled “Macarthur Minerals Limited: Moonshine and Moonshine North Prospects, Lake Giles Iron Project, Western Australia, NI43-101 Technical Report – Preliminary Assessment”).

Macarthur also owns the Ularring Hematite Project, with a Mineral Resource Estimate consisting of Indicated 54.46 Mt @ 47.2% Fe and Inferred 25.99Mt @ 45.4% Fe, previously announced on August 16, 2012 (NI 43-101 Technical Report filed October 1, 2012, titled “NI 43-101 Report, Macarthur Minerals Limited, Pre-Feasibility Study, Ularring Hematite Project, Western Australia”). The Pre-feasibility Study focused on utilising all Probable Mineral Reserve of 42.95Mt @ 47% Fe hematite, producing a 60.1% Fe sinter fines product.

[johncasey] 21/3/2019 12:57

what stock exchange is MMS traded...is it toronto?

[paulhgreen] 19/3/2019 12:45

as they say tomorrow never comes

[sanilav] 15/3/2019 16:14

They obviously forgot to light the fuse!!

[johncasey] 14/3/2019 22:01

LOOKS like this share will rocket tomoro on BCN takeover news

[kenwrong] 04/3/2019 09:39

Australian lithium asset looks a good deal for Cadence. CXO's Finnis lithium has a jorc resource estimate of 7.2 mill tonnes and is next door to the Cadence Litchfield ground. Cadence CEO Keiran Morzara has interviewed with BRR Media about it here hxxp://webcasting.brrmedia.co.uk/broadcast/preview/5c7930193ba003403113ec18

[adobbing] 01/3/2019 09:15

The Sonora Lithium Project and Details of Cadence Ownership
Cadence owns a direct interest of approximately 6.95% of Bacanora. The Sonora Lithium Project is comprised of the following lithium properties:

La Ventana and La Ventana 1 concessions, which are 100 per cent. owned by Minera Sonora Borax S.A. de C.V.(“MSB”), a wholly-owned subsidiary of Bacanora; Cadence Minerals, through its direct interest of 6.95% of Bacanora, has an indirect interest in these concessions of 6.95%.
El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 concessions, which are held by Mexilit S.A. de C.V. (“Mexilit”). Cadence has a 30% direct interest in Mexalit through its Joint Venture with Bacanora, and when combined with Cadences’ direct interest of 6.95% in Bacanora, has a total economic interest in Mexalit of 34.85%.
Projects Outside the Sonora Lithium Project
Cadence also owns a 30% direct interest in The Megalit, Buenavista, and San Gabriel concessions, which are held by Megalit S.A de C.V (“Megalit”) which when combined with Cadences’ direct interest of 6.95% in Bacanora, has a total economic interest in Megalit of 34.85%.

These areas are not part of the mining plans of the Sonora Lithium Project and have not been assessed in sufficient detail to provide a 43-101 compliant Mineral Resource Estimate.

[adobbing] 01/3/2019 09:13

Yes they do and quite significant.

I imagine the info is on their website, otherwise probably discussed at the top of this thread or under the companies previous name of REM = Rare Earth Minerals

[fhmktg] 01/3/2019 08:47

Wonder why Cadence are reducing their holding in BCN, now down to around 4%, it's been a lousy investment over 2018/9.Do they have a separate investment in Sonora which is where the real value might lie?

[fhmktg] 01/2/2019 13:41

Thanks, rossowheels.The BCN site has a good YouTube video with the ceo.2019 should see construction of the phase1 Sonora plant, with first lithium in Q1 2020.That should impact positively on the Cadence share price over the next 12-18 months.I might have a dip into BCN as well!

[rossowheels] 01/2/2019 11:56

Just look at BCN to see the timescale here, pilot plant, feasibility reports, engineering design, off-takers, financing, construction.

[fhmktg] 30/1/2019 08:15

Not heard from Yangibana for a while.Good update today, still 7 years from production, but a firm announcement on financing and building infrastructure could come soon.2019 should see more positive news for rare earths and lithium projects which would help the spKeep the faith!

[fhmktg] 17/1/2019 11:34

Bacanora shares worth close to £2 million and given the timing for Bacanora to begin mine building, could lead the re- rating of KDNC this year?

[jacksharp] 17/1/2019 07:18

https://twitter.com/billyDigiByte/status/1085797875429314560?s=19

[jacksharp] 16/1/2019 20:14

https://twitter.com/billyDigiByte/status/1085582585248604162?s=19

[rossowheels] 09/1/2019 11:20

Hopefully, more concerning raising funds to build it!

[fhmktg] 09/1/2019 11:12

Bacanora should be ready for some serious announcements about mine building?

[knicol46] 09/1/2019 09:46

low volume remain @ offer - tick up(s), blue day - very unusual, something leaked?

[fqr714bhp] 09/1/2019 09:24

What is going on with this one.

Up and blue two days in a row????

[pugugly] 11/12/2018 07:45

" Response to Speculation

Bacanora Lithium plc (AIM: BCN), the London traded lithium company, notes speculation arising from a Webinar held by Cadence Minerals PLC, a significant shareholder in Bacanora, on 10 December 2018. The Company would like to reiterate that Cadence Minerals PLC is not an insider to Bacanora and neither it nor any other shareholder is in possession of any inside information regarding a potential equity raise or any other funding matters. "

So what was said - and wheere were the market rumours? A very wet satement (imo) by BCN when it looks as though a major II unload taking place.

[pugugly] 10/12/2018 12:13

Falling fast with BCN - Mr Market does not appear to like clay situs deposits plus of course the delays in funding

[cyfalafwr] 20/11/2018 10:28

SmoggyG
20 Nov '18 - 07:11 - 630 of 630
Oh dear,this does not bode well for REM/KDNC today./////RNS Number : 8289H

Why? This is how small exploratory mining companies operate. Not a huge amount of money in the placing but needed if the company is to move forward.

P.S. Why the need to copy and paste the whole RNS into this thread when we have a link at the top of the page?

[smoggyg] 20/11/2018 07:11

Oh dear,this does not bode well for REM/KDNC today./////RNS Number : 8289H

Cadence Minerals PLC

20 November 2018

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

European Metals (AIM: EMH) Successful Placing to Raise Approximately GBP1.035 million.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by European Metals Holdings Limited ("European Metals" or "EMH"). EMH has today raised gross proceeds (before expenses) of GBP1,035,500 via a share placing ("Placing"), issuing 5,177,500 new ordinary shares (represented by Chess Depositary interests or "CDIs") with new and existing investors at an issue price of 20 pence per new ordinary share, representing an approximate 13 percent discount to the EMH closing mid-market price of the ordinary shares on 16 November 2018.

Cadence Minerals Plc subscribed for a total of 250,000 Placing Shares. Following participation in the Placing, Cadence Minerals Plc is now interested in a total of 28,096,470 CDIs representing 19.16% of the enlarged issued share capital of the Company.

The net Placing proceeds will be used to continue to advance EMH's corporate strategy including:

-- To progress the Company's drilling programme and upgrade its resource model to include measured resources and facilitate an estimation of proven reserves;

-- Begin the engineering process for a Definitive Feasibility Study;
-- Progress Environmental Impact Assessments for mining and processing;
-- Operate a pilot plant for production of samples for marketing; and
-- Progress discussions with potential strategic partners.
Cadence holds 19.16% 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:

Cadence Minerals CEO Kiran Morzaria commented: "Cinovec is the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource. Given the recent acceleration in the rate of project development and Cinovec's strategic significance in the future of the European electric vehicle market, Cadence Minerals were pleased to support EMH and its CEO Keith Coughlan by participating in the fundraising. We look forward to further progress in the drilling programme."

Live Webcast

Cadence will be holding a live webinar pleased to announce the Company will be hosting a live webinar at 10.00am GMT on Monday 10 December. The live webinar details will be circulated in the coming week.

Principal Investments

As at the 12 October 2018 Cadence had the following key investments: 19.7% of the equity in European Metal Holdings, which, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over Cinovec; 6.95% of the equity in Bacanora Lithium Plc and 30% of Mexalit and Megalit joint venture companies. Mexalit is the owner of the El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 mineral concessions, which forms part of the 20-year mine plan of the Sonora Lithium Project in Northern Mexico; 6.6% of Auroch Minerals Ltd; 4.5% of Clancy Exploration Ltd; 12.1% of Macarthur Minerals Ltd; 4% of the San Luis lithium exploration project in Argentina; 30% free carried interest in one mining lease and six exploration license in part of the the Yangibana Rare Earth Mineral deposit and a 100% interest in and exploration license on the eastern boundary of boundaries of Greenland Minerals and Energy Limited's licences that encompass the world-class Kvanefjeld, Sørenson, Zone 3 and Steenstrupfjeld Rare Earth Element deposits.

- Ends -

For further information:


Cadence Minerals plc [phone]
Andrew Suckling
Kiran Morzaria

WH Ireland Limited (NOMAD & Broker) [phone]
James Joyce
James Sinclair-Ford

Hannam & Partners LLP (Joint Broker) [phone]
Neil Passmore
Giles Fitzpatrick

Novum Securities Limited (Joint
Broker) [phone]
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.

About Cadence Minerals:

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 [e-mail] or visit www.rns.com.

END