30 April 2018
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
European Metals Holdings Update
Quarterly Activities Report on Cinovec Lithium/Tin Project
and
Auroch Minerals Update
Tisova Project Option
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that European Metals Holdings Limited ("European Metals") (ASX & AIM: EMH) has reported on its activities and continued progress in the development of the globally significant Cinovec Lithium/Tin Project in the Czech Republic during the three-month period ending March 2018.
Highlights included:
· Lithium leach recoveries of 94-95% achieved from recent laboratory scale roasting and water leaching tests.
· Confirmation that a modest increase in roasting temperature significantly increases lithium recovery.
· Confirmation that the substitution of the more cost effective reagent, limestone in place of lime did not reduce lithium recovery.
The full release can be found at: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13623656.html together with the quarterly cash flow report: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13623661.html
Cadence owns approximately 20% of the equity in European Metals Holdings.
Separately, Auroch Minerals Limited reports that it will not exercise its option to acquire the historic Tisová Copper Mine ("Tisová Project") as its primary focus is now on the Arden and Bonventura Base-metals projects in South Australia. Auroch Minerals has fulfilled all its obligations under the Option Agreement which expires on 30 April 2018 and it is released from any further obligations under the Option Agreement.
The full release can be found at: https://wcsecure.weblink.com.au/pdf/AOU/01976128.pdf
Cadence approximately owns 7% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.
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For further information, please contact. |
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Cadence Minerals plc |
+44 (0) 207 440 0647 |
Andrew Suckling |
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Kiran Morzaria |
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WH Ireland Limited (NOMAD & Broker) |
+44 (0) 207 220 1666 |
James Joyce James Sinclair-Ford |
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Hannam & Partners LLP (Joint Broker) |
+44 (0) 207 907 8500 |
Neil Passmore |
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Giles Fitzpatrick |
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Square1 Consulting |
+44 (0) 207 929 5599 |
David Bick |
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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 GBP 20 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.
