Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Appoints Drilling Contractor to Commence Drilling at the Moonshine Magnetite Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) that it has engaged Orbit Drilling Pty Ltd (“Orbit Drilling”) to commence an infill drill program at its Moonshine Magnetite Project at Lake Giles (“Project”) in the Yilgarn region of Western Australia.
- Macarthur has contracted Orbit Drilling to complete a 30 hole infill program at the Moonshine Magnetite Project.
- The drill program has been planned to upgrade the Inferred Mineral Resource estimate to a Measured Mineral Resource of approximately 100 million tonnes (“Mt”) at the Project.
- Drill-hole planning was conducted by CSA Global Pty Ltd (CSA), Macarthur’s independent geological consultants.
- The Measured Mineral Resource will underpin the bankable feasibility study (“BFS”) of the Project to be completed in 2019.
Macarthur states that the drilling program is designed to coincide with the BFS for the Project to be undertaken in 2019. Mining and processing studies will be based on Measured Mineral Resources to provide greater confidence in the outcomes of the study. The program aims to convert approximately 100 Mt of the Inferred Mineral Resource to a Measured Mineral Resource at the Moonshine deposit. Drill planning has been completed by CSA Global, who completed the early resource modelling and estimations for the Moonshine Magnetite Project.
The drilling program is also planned to obtain diamond core for the purpose of further metallurgical test-work. Diamond core is required for the BFS to refine the process flow design and provide greater understanding of ore variability. This metallurgical test-work program will commence mid-way through the drilling program as core becomes available.
Drilling is planned to commence in early May on receipt of required drilling permits, with an initial campaign of approximately 12 weeks.
Moonshine Magnetite Project
Macarthur states that the Moonshine Magnetite Project contains an Inferred Mineral Resource consisting of 1,316 Mt @ 30.1% Fe.
Cadence holds approximately 10% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7767403879040840&qm_symbol=MMS
Cadence Minerals CEO Kiran Morzaria commented: “Following the take off agreement recently announced between Macarthur and Glencore, the Cadence team are delighted with the subsequent pace of developments at the Lake Giles Moonshine Magnetite Project. We look forward to the next phase of developments following the drilling programme.”
This news release is not for distribution to United States Services or for Dissemination in the United States.
– Ends –
|For further information:
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.
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identiﬁed 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 reﬂect 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.
For further information please visit www.saltlakepotash.com.au or contact:
Salt Lake Potash Limited
Tel: +44 (0) 20 7478 3905
Cenkos Securities plc
Tel: +44 (0) 20 7397 8900
Grant Thornton UK LLP
Colin Aaronson / Ben Roberts
Tel: +44 (0) 20 7383 5100
Hannam & Partners
Rupert Fane / Ingo Hofmaier / Ernest Bell
Tel: +44 (0) 20 7907 8500
Brand CEO Alan Green talks Brave Bison #BBSN, RA Intl #RAI & Cadogan Petroleum #CAD on Vox Markets podcast
Brand CEO Alan Green discusses Brave Bison #BBSN, RA International #RAI & Cadogan Petroleum #CAD with Justin Waite on the Vox Markets podcast. Interview is 23 minutes 12 seconds in.
IMC Exploration Group #IMCP – Publication of Prospectus re Admission to Trading on the London Stock Exchange
Publication of Prospectus in relation to the proposed application for admission of all of the 255,014,285 Ordinary Shares in issue to the standard segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange
The Directors of IMC Exploration Group plc (“IMC” or the “Company”) are pleased to announce that The Central Bank of Ireland has approved the prospectus dated 16th April 2019 (the “Prospectus”) relating to the Company’s intended application for admission of the whole of its issued ordinary share capital to the standard segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange.
The Prospectus is available on the Company’s website (https://www.imcexploration.com/media/attachments/2019/04/16/imc-prospectus.pdf) and is available for inspection in physical format at the Company’s registered office, 70 Ballybough Road, Ballybough, Dublin 3, Ireland, during business hours (Monday – Friday. 9am – 5pm) up to and including 15th April 2020. Investors may also refer to this address to request a printed copy of the Prospectus.
The Company intends to apply for admission of all of the 255,014,285 ordinary shares in issue to the standard segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange and anticipates admission to take place on or about 11th June 2019.
IMC Exploration Group Plc,
Dublin, 16th April 2019
IMC Exploration Group Plc
Mr. Eamon O’Brien
Tel. Ireland: +353 87 6183024
Keith, Bayley, Rogers & Co. Limited (Financial Adviser to IMC)
Mr. Graham Atthill-Beck
Tel. +44 207 464 4091; +971 50 856 9408
Telecom Plus TEP delivered record revenue, profits and dividends in the year to the 31st March, with growth and momentum becoming significantly faster. The impact of a warm winter and the Ofgem price cap have led to expectations that pre-tax profits will be towards the lower end of previous guidance at around £56m. For 2020 however it is expected that accelerating growth will lead to adjusted profit before tax of between £60m and £65m and a 10% increase in the total dividend to 57p per share, compared to this years 4% rise to 52p per share,
Countryside Properties plc CSP reports solid trading in the 6 months to the 31st March, with completions up by 43%, the private average selling price down by 4% and a strong forward order book up 49%. After a slow start to the year, the spring selling season is described as having been robust. Completions are expected to be weighted towards the second half.
Bunzl plc BNZL Group revenue in the first quarter from the 31st December increased by 4% at actual exchange rates whilst at constant exchange rates the rise was 2.5%. The rate of underlying revenue growth however slowed during the quarter due to mixed macroeconomic and market conditions across the countries in which the Group operates, especially in North America.
ZOO Digital Group ZOO reports that the financial outturn for 2019 is frustrating and has been impacted by market shifts and client disruption, The company has already disclosed that planned investment has impacted on profitability to such an extent that adjusted EBITDA in the second half will be around break-even at around $0.5m.
SEGRO plc SEGRO has continued to grow well during the quarter commencing on the 1st January. Increasing occupancy, uplifts from rent reviews and renewals and development activity, all contributed to securing £21 million of new headline rent. 44 projects are currently under construction, 72% of which are already leased, and expected to generate £57 million of annualised rent. The vacancy rate has reduced to 4.4 per cent with decrease since December reflecting strong lettings of both existing and recently completed speculative space.
Dialight plc DIA continues to work on its recovery and global end markets continue to be robust.The Board expects further progress to be made in 2019 and the Group’s results to be heavily weighted towards the second half.
Card Factory plc CARD claims a robust performance in a challenging consumer environment for the year to the 31st December. Unfortunately looking at the actual figures, robust must mean different things to different people.. True, revenue rose by 3% although on a like-for-like basis sales were flat. However profit before tax fell by 8.3%, EBITDA by 8.7% and basic earnings per share by 12%. Cover for the ordinary dividend fell from 2.03x to 1.89x
Galliford Try plc GFRD is undertaking a strategic review which will reduce the size of the Construction business. It is anticipated that as a result profitability will be reduced by £30m-£40m below current consensus analysts’ forecasts. The damage reflects a reassessment of some legacy and current contracts, the effect of some recent adverse settlements and the costs of the restructure. The single largest element relates to the Queensferry Crossing venture where costs have increased.These are in addition to the claim in respect of the completed Aberdeen Western Peripheral Route, and the previously disclosed £38m work in progress balance in respect of three contracts for a single client, Significantly management appears to have avoided laying any blame at its own door.
JD Sports Fashion JD reports record results for the 52 weeks to the 2nd February with revenue up by 49,2% and EBITDA by 26.8%. Profit before tax rose by 15.4% and the total dividend is increased from 1.63p per share to 1.71. No need to worry about the meaning of robust, there, with total like for like sales growth in global Sports Fashion fascias of more than 6%.
G4S plc GFS updates for the three months to the end of March 2019 that Group revenue was 4.8% higher than the first quarter of last year, with growth in all regions and divisions.. Good progress is being made with the separation review which has the aim of turning the group into two strong, independent businesses that are able to take advantage of their market leading positions. The Board believes that this has the potential to unlock substantial shareholder value.
ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the Company has commenced processing and interpretation of airborne and ground geophysics in respect of the Company’s 100% owned Windidda gold project (the “Project”) in Western Australia.
Readers are advised to consult the Company’s previous announcement outlining the submission of licence applications by the Company to form the Windidda gold project:
- Consultants instructed by ECR are now completing geophysical data processing and modelling to determine structural trends within, and the depth to, an interpreted buried Archaen greenstone belt at the Project;
- As reported in January 2019 nine new licence applications which comprise the Windidda Project have been submitted covering approximately 1,600 square kilometres of the Yilgarn Craton;
- The application areas have been identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaen greenstones buried beneath cover;
- The under cover greenstone exploration model has been successfully tested to date by Greatland Gold (LON:GGP) at its Ernest Giles project located approximately 125km east of ECR’s Windidda gold project;
- The processing and interpretation of airborne and ground geophysics is an important element in the determination of high profile drill targets, expected to be amenable to cost effective air core drilling enabling the rapid assessment of the potential for gold mineralisation.
Craig Brown, Chief Executive Officer commented: “I am pleased to announce that we have launched the next crucial stage in the development of our understanding of scale of the Windidda gold project.
The work being undertaken will greatly assist our understanding of the Project and help us to focus on the higher profile target areas for follow up drilling.
The feedback from this work will be available to the Company shortly and will enable us to advance our operational planning, including the development of key drill targets in our search for high impact gold mineralisation.”
COMPETENT PERSON STATEMENT
Information disclosed in this announcement has been reviewed by Samuel Garrett Non-executive Director of ECR Minerals and a Competent Person within the meaning of Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and for the purposes of the AIM Rules.
Mr Garrett holds a BSc (Hons) in Geology and an MSc in Economic Geology from the University of Tasmania. He is a member of the Australian Institute of Geoscientists and a member of the Society of Economic Geologists (USA).
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|ECR Minerals plc||Tel: +44 (0)20 7929 1010|
|David Tang, Non-Executive Chairman|
|Craig Brown, Director & CEO|
|WH Ireland Ltd||Tel: +44 (0)161 832 2174|
|Katy Mitchell/James Sinclair-Ford|
|SI Capital Ltd||Tel: +44 (0)1483 413500|
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.
ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.
ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.
Article by Business Insider – April 1st 2019
- Iron ore spot markets rose strongly across the board on Friday.
- Uncertainty over supply disruptions in Brazil and Australia, along with firmer steel prices, likely explain the size of the gains recorded during the session.
- China’s official manufacturing and non-manufacturing PMIs both improved in March compared to the levels reported in February.
- The Caixin-IHS Markit China manufacturing PMI report for March will be released on Monday.
Iron ore prices rallied on Friday, supported by renewed uncertainty over Brazilian and Australian supply.
According to metal Bulletin, the spot price for benchmark 62% fines jumped 2.5% to $86.81 a tonne, logging its largest gain in two weeks.
The gains in higher grades were even larger with 65% fines soaring 3% to $99.30 a tonne, leaving it just below the multi-year highs struck in early February.
Lower grades also rallied with 58% fines adding 1.6% to $72.14 a tonne.
The across the board gains coincided with renewed uncertainty over the outlook for Brazilian and Australian iron ore supply, two of the largest seaborne exporters globally.
On Thursday, Brazilian miner Vale lowered its iron ore sales forecasts to a range of 307 to 322 million tonnes this year, down from an earlier estimate of 382 million tonnes.
“Given the physical nature of iron ore markets, the impending physical tightness to face iron ore markets strengthens our conviction that iron ore prices will rise above to over $90 a tonne in the short term.”
Daniel Hynes, Senior Commodities Strategist at ANZ Bank, is another who expects iron ore prices will remain supported in the period ahead.
“We see a sizable disruption lingering over the market for the near future,” he said, referring to supply disruptions in Brazil.
“Supply-side responses are likely, but will be far short of what is required to meet the needs of the market in 2019. As a result, iron ore exports will fail to meet expected demand by around 35–40 million tonnes in 2019.
“This should keep prices well supported in 2019.”
Along with uncertainty over the outlook for Brazilian supply, news of operational disruptions at facilities owned by Rio Tinto in Western Australia was another factor that helped to propel prices higher during the session.
On Friday, the miner issued force majeure notices to some iron ore customers due to damage from tropical cyclone Veronica, which hit Western Australia earlier this week, according to Reuters.
Rio said that it was “currently assessing the impact of the damage sustained at the Cape Lambert A port facility and is working with its customers to minimise any disruption in supplies”.
A force majeure is invoked when a miner cannot perform an obligation under a contract due to circumstances outside of its control.
Like spot markets, the news helped to spark a rally in Chinese iron ore futures on Friday.
In Dalian, the most actively traded May 2019 contract jumped to as high as 638.5 yuan before closing the session at 631.5 yuan. That was well above the 613.5 yuan level it finished on Thursday evening.
Stronger steel prices also helped to support iron ore futures at the margin with rebar and hot-rolled coil finishing trade at 3,758 and 3,741 yuan respectively, up from 3,695 and 3,673 yuan on Thursday evening.
As seen in the scoreboard below, those moves were largely sustained in overnight trade on Friday.
SHFE Hot Rolled Coil ¥3,732 , 0.67%
SHFE Rebar ¥3,754 , 0.72%
DCE Iron Ore ¥632.50 , 1.85%
DCE Coking Coal ¥1,229.00 , -0.08%
DCE Coke ¥1,980.00 , 0.23%
Trade in Chinese commodity futures will resume at midday AEDT on Monday.
In news that will likely bolster sentiment across the steel and bulk commodity complex further, activity levels across China’s manufacturing and non-manufacturing sectors improved in March, driven in part by booming construction activity.
The government’s manufacturing and non-manufacturing PMIs rose to 50.5 and 54.8 respectively in March, up from 49.2 and 54.3 in February.
A reading above 50 indicates that activity levels improved from a month earlier. The distance away from 50 reveals how fast the improvement occurred.
The separate Caixin-IHS Markit China manufacturing PMI report for March will be released today. In the past, markets have tended to pay more attention to this report than the official government release.