Cadence Minerals (KDNC) – Macarthur Minerals Pilbara Tenements confirm high grade Gold potential

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that that Macarthur Minerals Ltd (TSX-V: MMS) has announced that confirm the potential for high grade gold on its Pilbara tenements following a recent reconnaissance trip to its Hillside Gold Project in the Pilbara, Western Australia in association with Artemis Resources Limited. A rock chip from a recent reconnaissance visit with Artemis Resources to the Hillside Project returned 8.5 grams per tonne gold.

Cadence has a 15.7% equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium and iron ore in the Pilbara region of Western Australia. It also has a lithium project in the USA.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6031159891367503&qm_symbol=MMS .

Kiran Morzaria, Chief Executive Officer of Cadence, commented: “This is a very encouraging early finding and we look forward to the next stages of sampling and drill target identification.”

– Ends –

For further information, please contact.

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 Bavister

Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore

Giles Fitzpatrick

Square1 Consulting

+44 (0) 207 929 5599

David Bick

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 £25 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.

Cadence Minerals (KDNC) – Bacanora Minerals receives environmental approval for Sonora Lithium Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Bacanora Minerals (AIM: BCN, TSXV: BCN) has announced that the Environmental Impact Statement, the Manifestacion de Impacto Ambiental, for its flagship Sonora Project in Mexico has been approved by SEMARNAT, the Environment Ministry of Mexico. Bacanora Minerals has also provided an update on its Feasibility Study for a 35,000 tonnes per annum lithium carbonate operation at Sonora, which on course for completion in late 2017.

Highlights:

  • MIA approval received for a 35,000tpa lithium carbonate operation at Sonora, following completion of comprehensive environmental and social baseline studies.
  • Approval represents a major milestone for Bacanora and is in line with its strategy to construct an open-pit mine and a large-scale beneficiation processing facility at Sonora.
  • FS expected to confirm Sonora occupies a favourable position in the industry cost curve.
  • Development of a conventional beneficiation process followed by a standard SO4 roasting process that has been de-risked by the Project’s pilot plant which has continuously produced battery grade lithium since May 2016.
  • Ability to re-cycle Na2SO4 into the roaster negates the requirement to purchase expensive sulphuric acid as a sulphate SO4 source.
  • Sonora has an Indicated Mineral Resource of 4.5 million tonnes Lithium Carbonate Equivalent (“LCE”) and 2.7 million tonnes Inferred and Probable Mineral Reserves of 2.1 million tonnes.

The full release can be found at: https://www.investegate.co.uk/bacanora-minerals-ld–bcn-/rns/environmental-approval-for-sonora-lithium-project/201710200700021384U/ .

Kiran Morzaria, Chief Executive Officer of Cadence, commented: “It is great to see the Progress being made at Sonora, the environmental approvals are a key step in the development of bringing this excellent asset into production. It is also important to note that the change in roasting process has continued to produce battery grade lithium carbonate since May and that the process mitigates the requirement for sulphuric acid.” “Sonora is considerably de-risked and scalable and we look forward to seeing the results from the upcoming feasibility study.”

– Ends –

For further information, please contact.

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 Bavister

Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore

Giles Fitzpatrick

Square1 Consulting

+44 (0) 207 929 5599

David Bick

The Sonora Lithium Project and Details of Cadence’s ownership:

Cadence Minerals holds 9.3% of the equity in Bacanora Minerals 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. These concessions form part of the Sonora Lithium Project as assessed in the Pre-Feasibility Study  published in April 2016 by Bacanora.

As of the date of publication of the PFS,  The Sonora Lithium Project contained some 7.2 million tonnes of Lithium Carbonate Equivalent within the indicated and inferred mineral resource estimate categories sit on the of which  of which 2.1 million tonnes of LCE were classified as probable mineral reserves. Of these mineral resources and reserves, 4.1 million tonnes of LCE total mineral resources and 1.7 million tonnes of LCE probable mineral reserves sit within mineral concessions owned by Mexalit.

Megalit does not form part of the Sonora Lithium Project as defined PFS and as yet has had no mineral resource estimate carried out on it.

The direct and indirect interests of Cadence in the Sonora Lithium Project and other mineral concessions in the Sonora province are as follows:

  • La Ventana and La Ventana 1, which are 100 percent owned by Minera Sonora Borax S.A. de C.V.(“MSB”), a wholly-owned subsidiary of Bacanora; Cadence, through its direct interest of 9.3% of Bacanora, has an indirect interest in these concessions of 9.3%.
  • El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 concessions, which are held by Mexilit S.A. de C.V.. Cadence has a 30% direct interest in Mexalit through its Joint Venture with Bacanora, and when combined with Cadence’s direct interest of 9.3% in Bacanora, has a total economic interest in Mexalit of 36.5%.
  • Buenavista, San Gabriel and Megalit concessions, which are held by Megalit S.A. de C.V. (“Meglait”). Cadence has a 30% direct interest in Mexalit through its Joint Venture with Bacanora, and when combined with Cadence’s direct interest of 9.3% in Bacanora, has a total economic interest in Mexalit of 36.5%.

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 £25 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.

Intercontinental Hotels – Strong On Jargon, Rev Par And Growing Rooms

Intercontinental Hotel Grp. IHG delivers a jargon laden third quarter update indicating that it is very pleased with itself. Net rooms grew at 4.1%, the strongest since 2010 and it is accelerating brand growth around the world. Rev Par 2.3% in the quarter and  2.2% for the year to date.Europe was particularly strong with rises of 7.1% and 6.6% respectively, slightly behind Greater China which led the way, whilst for once the US lagged. The financial position of the company is robust.

DX (Group) plc DX admits it has gone through a particularly challenging time and turned last years profit of £11.5m into a reported loss before tax of of £82.3m. for the year to the 30th June. Exceptional items of £80.7m. included everything but the kitchen sink, from goodwill impairment of £72.4m to provisions for property delapidations, professional costs and senior management departures. Adjusted earnings per share or the year collapsed to 0.1p from last years 4.9p. Now the company is focused on its operational and financial under performance, new business has risen by 20%, major new contracts have been signed and a new leadership team has been appointed. So investors who believe in bottom fishing, get your hook, line and sinkers out and see what you can catch.

Octagonal plc OCT is extremely pleased with its record revenue and profits for the six months to the 30th September, during which revenue grew by 17.5% and net profit by 40%. The pleasure is added to by the fact that  the second quarter is usually impacted by reduced summer trading and revenue negative currency movements had an impact on revenue.

Ascent Resources AST expects that the long awaited process of the re certification by the Croation authorities of the export pipeline, which will allow export production to commence, is now awaited. An exchange of signatures can now be expected within a short time frame.

Beachfront villas & houses for sale in Greece    http://www.hiddengreece.net

Brand Comms and PIR Multichannel CEO Alan Green talks #SMS,#AVO & #MIDW with Jeremy Naylor on IG TV.

Brand Comms and PIR Multichannel CEO Alan Green discusses Smart Metering #SMS, Advanced Oncotherapy #AVO and Midwich Group #MIDW with Jeremy Naylor on IG TV.

Cadence Minerals (KDNC) – Macarthur Minerals acquires 15% interest in W Australia Gold project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Macarthur Minerals Limited (TSX-V: MMS) has announced it has completed acquisition of 15% of Yalgoo Exploration Pty Ltd, which owns the Melville Gold Project in Western Australia. 

  • Yalgoo Exploration owns two granted exploration licences (E59/2077 and E59/2140), covering an area of 191 square kilometres (47,161 acres) in the Murchison region of Western Australia. The Yalgoo Tenements are located approximately 500 km north-east of Perth.
  • Yalgoo Exploration is a private company which has been focussed on the exploration and development of the Melville Gold Project, which is located on the Yalgoo Tenements.
  • The Melville Gold Project located on exploration licence E59/2077. In 2004 a previous owner defined a mineral resource for the Melville Gold Project in accordance with The Australasian Code for the Reporting of Identified Mineral Resources and Ore Reserves (JORC Code), 2004. 

Cadence has a 15.7% equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium and iron ore in the Pilbara region of Western Australia. It also has a lithium project in the USA. 

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7230985761000291&qm_symbol=MMS .

Kiran Morzaria, Chief Executive Officer of Cadence, commented: “We believe that this acquisition brings additional value to the Macarthur Minerals, especially with the gold price at its current level.”

– Ends –

For further information, please contact.

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 Bavister

Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore

Giles Fitzpatrick

Square1 Consulting

+44 (0) 207 929 5599

David Bick

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 £25 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.

Unilever Ice Cream Sales Melt In Europe

Unilever plc ULVR Reports that emerging markets drove third quarter sales growth with underlying sales up by 2.6% and, over nine months, by 2.8%. Total third quarter turnover however was down by 1.6% after a 5.1 % currency impact. Developed markets were a problem and remained challenging, with turnover, led by of all things, ice cream in Europe, down by 2.3%. Emerging markets saved the day with volume up by 1.8% and turnover by 6.3%.

Rentokil Initial RTO obtained growth in its third quarter, from acquisitions which produced a total rise in company revenue of 10.10% but on an organic basis growth at 3%, was much lower. Strong performances came from Asa Pacific, Latin America and the target market of North America. Five further aquisitions were made in quarter 3 and prospects for the rest of the year remain good.

Stobart Group STOB is to increase its interim dividend by 50% for the half year to 31st August from last years  3p to 4.5p per share this year. Profit before tax came in at £111.6m compared to last years £10.8m and underlying EBITDA rose from £20.2m last year to £131.8m this year but after taking into account £123.9m of profit from the partial sale of its investment in Eddie Stobart Logistics, which appears to mean that excluding that one off bonus real EBITDA fell somewhat.

Travis Perkins TPK enjoyed continued strong third quarter growth across all its contract businesses and a significant improvement in sales in Plumbing & Heating. Group sales rose by 3.5% for the quarter rising to 4.1% on a like for like basis.

Tristel plc TSTL Sales and profitability in the year to the 30th June exceeded both market expectations and the company’s own internal plan,enabling the standard full year dividend to be increased by by 21%. Turnover for the year rose by 19% which included a 43% rise in oversea sale and earnings per share increased from 5.01p. per share to 8.06p

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Tertiary Minerals (TYM) updates on Acquisition Opportunities, plus other Corporate and Operational Developments

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to provide an operational update for its key fluorspar projects, royalty interests and project acquisition activity. The Company is developing its three key fluorspar assets where more than 13 Mt of contained fluorspar (CaF2 %) has been defined – JORC classified Indicated and Inferred.

Commenting today, Managing Director, Richard Clemmey said: “During recent months management has been progressing the Storuman project in Sweden through the Mine permitting process. Metallurgical testwork at the MB project in Nevada is progressing and is aimed at producing a commercial grade mica product alongside commercial grade acid-spar. Management is also focused on acquisition opportunities in the fluorspar and industrial minerals sector. Advanced discussions and technical due diligence are in progress and we look forward to releasing further news in due course”

Highlights:

Storuman Fluorspar Project, Sweden 

  • The re-assessment process of the Exploitation (Mine) Permit by the Swedish Mining Inspectorate is progressing
  • The Swedish Mining Inspectorate requested additional information relating to the original EIA, which the Company provided in May 2017
  • The Mining Inspectorate confirmed the additional information is sufficient and subsequently re-invited all stakeholders to comment on the application – current deadline for responses being 27 October 2017

MB Fluorspar Project, Nevada, USA

  • Scoping Study level bench scale metallurgical testwork progressing at SGS Lakefield in Canada with the aim of producing commercial grade acid-spar
  • Testwork scope includes the production of commercial grade mica as a secondary product – potential valuable upside

Lassedalen Fluorspar Project, Norway

  • The seasonal environmental testwork required as part of the due diligence for the purchase of land and old fluorspar mine workings from Hydro has been completed by Niva and data review now underway
  • Following satisfactory environmental data review, the Company is planning to progress with the required technical and legal due diligence prior to taking ownership of the Hydro land position

Finland Gold Projects – Aurion Resources

  • The 83,072 shares the Company received as part consideration have increased in value from £85,000 to more than £140,000 (based on current mid-market price and exchange rates)
  • Kinross Gold Corporation has recently completed a private placement with Aurion resulting in Kinross owning 9.98% of the issued and outstanding share capital of Aurion
  • Tertiary retain pre-production and production royalty interests in the projects

Potential Acquisition

  • Advanced discussions and technical due diligence are underway for shortlisted fluorspar project
  • Project has the potential to be near-term revenue generating

Customer Engagement

  • The Company continues to engage with key end-users and fluorspar traders, providing regular project updates, technical and commercial co-operation. Further discussions to be held at the upcoming global fluorspar conference on 23-25 October 2017.
 

Enquiries

 

Tertiary Minerals plc

Richard Clemmey, Managing Director

Patrick Cheetham, Executive Chairman

 

 

 

+44 (0) 1625 838 679

SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker

Ewan Leggat/Lindsay Mair

+44 (0) 20 3470 0470
 

Beaufort Securities Ltd

Joint Broker

Elliot Hance

 

 

+44 (0)20 7382 8300

Further Information

Background

Fluorspar is classified as a critical raw material by the European Commission (high risk of supply shortage and consequent impact on the economy) and the USA also considers fluorspar to be a strategic mineral. Due to its unique chemical properties, lightest of the halogens, it is largely irreplaceable and is used in a wide range of applications. Key uses include:

  • Refrigeration – new generation of zero ozone depleting potential (ODP) and very low global warming potential (GWP) refrigerants, hydrofluoroolefins (HFO’s) – driven by environmental legislation, most recently the Kigali Amendment: 170 nations agreed to phase down low ODP, high GWP Hydrofluorocarbons (HFCs)
  • Flux for Energy reduction in the steel and aluminium industry
  • Emerging uses – e.g. fluoropolymers in lithium batteries

The Company continues in its quest to become a reliable long-term and competitive supplier of high quality fluorspar to world markets through the acquisition and development of fluorspar deposits located close to established infrastructure and key markets in stable, democratic and mining friendly jurisdictions.

Storuman Fluorspar Project, Sweden

The Company’s 100% owned Storuman project is located in north central Sweden where the Company has defined a large near-surface fluorspar JORC compliant Mineral Resource:

Classification Million Tonnes (Mt) Fluorspar (CaF2 %)
Indicated 25.0 10.28
Inferred 2.7 9.57
Total 27.7 10.21

The Company submitted its Exploitation (Mine) Permit application in July 2014 to the Swedish Mining Inspectorate and following an extensive consultation process the 25 year Exploitation (Mine) Permit was granted on 18 February 2016.

However, as a consequence of the Supreme Court’s decision to overturn the grant of a third-party mining company’s mining permit in the south of Sweden (Norra Karr Mine Permit – rare earth element project, owned by Leading Edge Minerals) the government returned the Storuman Mine Permit case, along with many other cases, back to the Swedish Mining Inspectorate for re-assessment in December 2016. The re-assessment is intended to consider the impact of mining in the concession area on a wider surrounding area. Earlier this year the Swedish Mining Inspectorate requested additional information from the Company relating to the original Environmental Impact Assessment (EIA) and the wider area. The Company provided the additional information to the Swedish Mining Inspectorate in the form of an updated EIA in May 2017. The additional information was accepted by the Mining Inspectorate which has subsequently invited all stakeholders to provide comments on the application and additional information, with the current deadline for responses being 27 October 2017. Further updates will be provided as and when available, but it is worth noting that the Company has no influence on the speed at which the re-assessment of the grant of the mining permit is being processed by the Authorities.

Whilst the process is slow and frustrating, the Company continues to co-operate with the Mining Inspectorate and believes that the Mine Permit application and EIA are of a very high standard. The Company also continues to have the support of the majority of key stakeholders at Storuman, with the notable exception of the Sami reindeer herding community, and remains hopeful of a positive resolution to this in 2017.

Any ratification of the grant of the mining concession will, however, be open to appeal and the Company will therefore not spend any further money on exploration or development of Storuman until the matter is resolved.

MB Fluorspar Project, Nevada, USA

The MB Property comprises 146 contiguous mining claims covering an area more than 2,800 acres and is located 19km south-west of the town of Eureka in central Nevada, USA. Four phases of drilling completed by the Company have resulted in the definition of a large fluorspar JORC compliant Mineral Resource:

Classification Million Tonnes (Mt) Fluorspar (CaF2 %)
Indicated 6.1 10.8
Inferred 80.3 10.7
Total 86.4 10.7

The initial metallurgical testwork is now underway at SGS Lakefield to ascertain if commercial grade acid-spar and commercial grade mica can be produced from the ore. This is the first critical step in the preparation of a Scoping Study for the project. The results of the testwork will determine the next steps in the development of the MB fluorspar projects. The ore presents some metallurgical challenges and the Company has therefore engaged the services of one of the world’s leading fluorspar metallurgists to assist with the testwork.

Lassedalen Fluorspar Project, Norway

The Lassedalen Fluorspar Project is located near Kongsberg, 80km to the south-west of Oslo in Norway. The Company has defined a small, higher grade fluorspar JORC compliant Mineral Resource on the property:

Classification Million Tonnes (Mt) Fluorspar (CaF2 %)
Inferred 4.0 24.60

A key landowner for the Company’s Lassedalen fluorspar project is the global aluminium company, Hydro. In November 2016 Tertiary and Hydro entered into heads of terms whereby Tertiary will acquire the land (for 1 Norwegian Krone) and historic mine workings from Hydro following successful due diligence and purchase agreement completion. The seasonal environmental testwork required as part of the due diligence has recently been completed by Niva and data review is underway. Following satisfactory data review the Company is planning to progress with the technical and legal due diligence prior to taking ownership of the Hydro land position.

Finland Gold Projects – Aurion Resources

In March 2017, the Company successfully completed the sale of two legacy gold assets, Kaaresselkä and Kiekerömaa in Finland, to TSX-V listed Aurion Resources Ltd. The Company was paid £100,000 initial consideration for the projects, £15,000 in cash and £85,000 in Aurion Shares. The Company also retains a pre-production and production royalty interest in the projects and therefore providing the opportunity for potential income in the future.

Aurion has recently announced the discovery of a new bonanza gold zone, called Aurora at its 100% owned Risti project. The Kaaresselkä project is located in the same regional deformation zone, to the south of Risti where 133 rock grab samples collected from predominantly large and angular subcropping quartz-tourmaline blocks assayed from nil to 1563.5 g/t Au, including 36 samples which assayed greater than 31 g/t Au (1 ounce per tonne). The average grade of all 133 samples is 74.3 g/t Au. In September this year Kinross Gold Corporation completed a private placement with Aurion resulting in Kinross owning 9.98% of the issued and outstanding share capital of Aurion.

This has resulted in an increase in the value of the Aurion Shares held by Tertiary by more than £55,000, the current value being more than £140,000 (based on current mid-market price and exchange rates). The Company believe that Aurion is in a strong position to develop the Kaaresselkä and Kiekerömaa projects in the future.

Potential Acquisition

In January this year the Company updated the market on its business strategy and, whilst the Company remains committed to its fluorspar business and the development of its fluorspar assets, it has, since then, been reviewing complementary project acquisition opportunities capable of generating revenue and profits in a shorter timescale. Finding quality projects is not an easy task, but following the shortlisting of a number of projects for further evaluation the Company is engaged in detailed discussions with the owners of one such fluorspar project and technical due diligence has started; however there is no guarantee that the deal with be successfully executed at this point.

Notes to Editors

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Dr David Paul of VectorVest discusses Victoria (VCP), Coats Group (COA), Countryside Props (CSP), Taptica (TAP & Berkeley Grp (BKG) on Core Finance TV.

Hidden Gems! Dr David Paul of VectorVest discusses Victoria (VCP), Coats Group (COA), Countryside Props (CSP), Taptica (TAP & Berkeley Grp (BKG) with Matt Brown on Core Finance TV.

Andalas Energy & Power (ADL) signs MOU for Development of Independent Power Producer at Puspa Field with PT Pertamina Power Indonesia and Siemens AG

Andalas Energy and Power plc (AIM:ADL) is pleased to announce that it has signed a memorandum of understanding with PT Pertamina Power Indonesia, a wholly-owned subsidiary of PT Pertamina (Persero), and Siemens AG regarding the development of an independent power producer at the Puspa field in Sumatra.

Highlights:

  • Andalas, PPI and Siemens agree to jointly pursue the development of an independent power producer at the Puspa field in Sumatra.  The Puspa field is operated by PT Pertamina EP.
  • Establishes the basis to:
    • engage project partners;
    • negotiate and agree further project agreements with all stakeholders;
    • secure gas from the Puspa field;
    • generate conceptual development plans including an electricity demand analysis, a load flow study, a site identification study, identify and select gas fired power generation technology, and identify and select an engineering, procurement and construction contractor.
  • The parties have agreed to bear their own costs and to share all agreed third party costs, equally during this phase of the project.  The agreement includes binding provisions relating to the joint pursuit of the project, conditions precedent, exclusivity, costs, term and confidentiality and non-binding provisions relating to the objectives and execution of further agreements and joint committees.  It is for a term of 24 months and subject to all necessary approvals and finance.
  • The Company will make a final investment decision after the project has been included in the RUPTL and  the Company has completed the work program outlined above, obtained various licences relating to the facility and transmission lines and negotiated the final agreements with other stakeholders including the consortium members, PEP, PLN and lending institutions.
  • The third party costs to Andalas during the development phase are expected to be modest.  The material costs of the project relate to the capital costs of the power plant, which will only be incurred when the project achieves FID.

David Whitby, CEO of Andalas Energy & Power, commented, “The execution of the Puspa MOU establishes our first joint project with PPI and Siemens.

“Pertamina has recently completed an appraisal program on the Puspa field.  The proposed IPP would enable Pertamina to commercialise the field.  Andalas’ preliminary assessment is that it will support a 20 to 50MW wellhead IPP.  We will continue to refine this model in discussions with all stakeholders including PPI, Siemens, PEP and PLN.

“We are pleased to welcome Siemens to our consortium.  Siemens is a leading provider of generating systems and networks in Indonesia and we believe their addition to the project will prove invaluable.”

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 a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

For further information, please contact:

David Whitby Andalas Energy and Power Plc Tel: +62 21 2783 2316
Sarah Wharry Cantor Fitzgerald Europe
(Nominated Adviser and Joint Broker)
Tel: +44 20 7894 7000
Jon Belliss Beaufort Securities Limited
(Joint Broker)
Tel: +44 20 7382 8415
Frank Buhagiar
Susie Geliher
St Brides Partners Limited Tel: +44 20 7236 1177

**ENDS**

Notes for Editors:

PT Pertamina (Persero) (“Pertamina”) – Indonesia’s National Oil Company

Today Pertamina is ranked 230 on the Global Fortune 500 of companies generating over US$41 billion in revenue and with some US$45.5 billion in assets in 2015.  It has interests in over 230,000 square kilometres of acreage, has over 5 billion barrels of oil equivalent (‘boe’) in proven and probable reserves, and in 1H 2016 its production reached 640,000 boe per day, equating to over 50% of Indonesia’s total hydrocarbon production.  Pertamina’s business is fully integrated and includes a significant power business.  Pertamina are the lead developer of the recently approved Jawa-1 (1,760MW) power plant and have a further 235 MW of geothermal power plants in operation or being commissioned throughout Indonesia.

PT Pertamina Power Indonesia (“PPI”) – Pertamina’s power developer

PPI was recently established by Pertamina to run, control and manage all of its power business activities in Indonesia and globally.  From 2017, all gas-based and new & renewable energy power projects undertaken by the Pertamina Group will be officially led by PPI.  PPI’s interests include a stake in PT Jawa Satu Power which is developing the 1760 MW Jawa-1 IPP.  PPI also has stakes in a number of solar power projects.

PT PLN (Persero) – Indonesia’s National Utility

PLN is a state-owned company responsible for the majority of Indonesia’s power generation.  It has exclusive powers over the transmission, distribution and supply of electricity to the public and it is responsible for the procurement of independent power production.  PLN employs circa 51,000 employees across the archipelago and PLN’s total generating capacity (produced by many different plants across Indonesia) at 31 December 2015 was reported at around 40,265MW.  PLN is focusing their efforts and investments to fulfilling the Governments ambitious targets of adding 35,000 MW of generating capacity by 2019 in order to increase the electrification ratio of Indonesia to levels comparable with other ASEAN nations.

Siemens AG

Siemens AG is a German conglomerate company headquartered in Berlin and Munich and one of the largest global industrial manufacturing companies.  Siemens is 50% owner of PT Jawa Power 1,220MW that is the only coal fired power plant to receive the Proper Gold award from the government of Indonesia.

The RUPTL or Rencana Usaha Penyediaan Tenaga Listrik is Indonesia’s electricity business plan.  It contains demand forecasts, future expansion plans, electricity production forecasts, fuel requirements and indicates which projects are planned to be developed by PLN and independent power project investors.

Reckitt Benckiser – Admits Incapable Of Growth

Reckitt Benckiser RB Rarely has a board been so isolated from reality that it shows not the slightest comprehension of the fear which its own chosen headlines for its third quarter update, could instill in shareholders. Those headlines speak of a continuing challenging environment and then worse still, an admission that the company needs reorganising for growth. So what exactly have the directors and senior management been doing recently to earn their remuneration. How can they have let things get so out of hand that they are forced to admit that the company is so badly organised it is incapable of growth.

Net revenue both for the quarter and for the year to date both fell by 1%. The best it could manage was growth in only one category out of four and that was a lowly 1% in hygiene,  It was a soft quarter bemoans the CEO whose best expectations are for a flat like for like target for the full year, whilst at the same time claiming  to be excited about the prospects for the company.

BHP Billiton BHP updates that its first quarter performance leaves it on track for 7% volume growth in the current financial year but the figures are somewhat patchy. Petroleum and gas production declined compared to the same quarter last year, as did iron ore and coal. Copper was the only bright spot with a rise of 14%. However there are four major projects under development one of which involves investment of $2.5 billion.

Softcat SCT announces another very strong year with double digit growth in both gross and operating profit. Revenue for the year to 31st July rose by 23.8% and operating profit by 18.9%. The final dividend is to be increased by 69.4% and a special dividend of 13.5p per share, down 15% on last year, is also to be paid, making a total dividend increase for the year of 15%. The company has now produced 48 consecutive quarters of top and bottom line year on years growth.

Eckoh ECK has been trading strongly in the UK during the half year to the 30th September, whilst in the US where it only entered the market in 2014 it also appears to be going from strength to strength, having won a total of 30 contracts since then. Good progress is being made in converting its contracts pipeline into orders and new contracts awarded in the first half,  have equaled those awarded in the whole of the last financial. year

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