Brand Communications CEO Alan Green talks Cadence Minerals #KDNC, RA International #RAI & BigDish #DISH on Vox Markets podcast

Brand Communications CEO Alan Green discusses Cadence Minerals #KDNC, RA International #RAI & BigDish #DISH with Justin Waite on Vox Markets podcast. Interview is 37 minutes in.

ECR Minerals #ECR launches new Corporate Website

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to advise that the Company has now launched a new corporate website which can be viewed at: www.ecrminerals.com

Craig Brown, Chief Executive Officer commented: “Reflecting the considerable developments within the Company’s Australian gold project portfolio, and as part of our enhancement of corporate communications tools and initiatives, I am delighted to launch our new corporate website.

Alongside our ongoing market regulatory announcements, the Company will utilise the new website to provide updated project information, corporate regulatory information and other useful material to assist investors’ understanding of our value proposition.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

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.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Announces Glencore #GLEN Participation in Financing.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”), that further to the announcement of March 19, 2019, a subsidiary of Glencore plc (“Glencore”) has agreed to participate in the US$6 million secured Convertible Note (“Note”) on a private placement basis for US$2 million.

Glencore’s participation in this financing, strengthens the life-of-mine long-term strategic relationship between the parties in line with the previously announced binding Off-Take Agreement (“Agreement”) with Glencore for sale of iron ore to be produced from the Lake Giles Iron Project (“Project”) in the Yilgarn Region of Western Australia.

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.

Key terms to the note:

  • Each Note has a face value of US$10,000 following adoption of a loan note instrument.
  • The Notes (including accrued but unpaid interest) can be converted at any time after 12 months into common shares of Macarthur at the Noteholder’s option at a conversion price that reflects the greater of 80% of the average VWAP over 5 trading days immediately preceding the date of a notice of conversion and C$0.10 (in each case with appropriate equivalence to USD), with attaching warrants offered for one fourth of the commitment amount exercisable at the greater of C$0.10 or the average VWAP over 5 trading days immediately preceding the date of the Advance Date (such term being defined in the definitive documentation) (in each case with appropriate equivalence to USD).
  • The Notes will have a term to maturity of 3 years and bear interest at a rate of 12.5% per annum.
  • The Notes include a restriction on conversion that provides that such conversion may not have the effect of causing Noteholder to own 20% or more of the common shares of Macarthur or becoming a control person.
  • The iron ore mining licences held by Macarthur (or a subsidiary of Macarthur) in respect of the Lake Giles Iron project region of Western Australia will act as security for the Notes issued to the Noteholder.

Any shares issued upon conversion of the principal amount of the Note and any accrued interest will be subject to certain resale restrictions, including a restricted (or “hold”) period of four months and one day following the distribution date of the Note and warrant, under applicable Canadian securities legislation.

The consummation of the US$2 million financing commitment from Glencore is subject to receipt of all necessary regulatory approvals including that of the TSX Venture Exchange, the Australian Foreign Investment Review Board and satisfaction of the other conditions set out in the Investment Agreement entered into by the Glencore and Macarthur.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=8292361460422531&qm_symbol=MMS

Cadence Minerals Chairman Andrew Suckling commented: “To secure a US$2 million investment from Glencore following the recently announced take-off agreement marks another significant milestone for Macarthur and its shareholders. As with the Exception Capital financing agreement announced yesterday, the terms are attractive, and provide Macarthur with funding certainty while potentially minimising dilution to Cadence shareholders.”

This news release is not for distribution to United States Services or for Dissemination in the United States.

– 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 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.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Announces Exception Capital LLP Participation in Financing

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”), that further to the announcement of March 19, 2019, Exception Capital LLP (“Exception”) has agreed to participate in the US$6 million secured Convertible Note (“Note”) on a private placement basis for US$1 million.

Key terms:

  • Each Note has a face value of US$10,000 following adoption of a loan note instrument.
  • The Notes (including accrued but unpaid interest) can be converted at any time after 12 months into common shares of Macarthur at the Noteholder’s option at a conversion price that reflects the greater of 80% of the average VWAP over 5 trading days immediately preceding the date of a notice of conversion and C$0.10 (in each case with appropriate equivalence to USD), with attaching warrants offered for one fourth of the commitment amount exercisable at the greater of C$0.10 or the average VWAP over 5 trading days immediately preceding the date of the Advance Date (such term being defined in the definitive documentation) (in each case with appropriate equivalence to USD).
  • The Notes will have a term to maturity of 3 years and bear interest at a rate of 12.5% per annum.
  • The Notes include a restriction on conversion that provides that such conversion may not have the effect of causing Noteholder to own 20% or more of the common shares of Macarthur or becoming a control person.
  • The iron ore mining licences held by Macarthur (or a subsidiary of Macarthur) in respect of the Lake Giles Iron project region of Western Australia will act as security for the Notes issued to the Noteholder.

Any shares issued upon conversion of the principal amount of the Note and any accrued interest will be subject to certain resale restrictions, including a restricted (or “hold”) period of four months and one day following the distribution date of the Note and warrant, under applicable Canadian securities legislation.

The consummation of the US$1 million financing commitment from Exception is subject to receipt of all necessary regulatory approvals including that of the TSX Venture Exchange and satisfaction of the other conditions set out in the Investment Agreement entered into by the Exception and Macarthur.

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, including full details of the FEL earn-in terms can be found at: https://web.tmxmoney.com/article.php?newsid=7164373152451843&qm_symbol=MMS

Cadence Minerals CEO Kiran Morzaria commented: “This financing agreement marks a significant step forward by Macarthur in progressing its Australian iron ore projects. As Macarthur Executive Chairman Cameron McCall states, the financing terms are attractive and minimises dilution to shareholders.”

This news release is not for distribution to United States Services or for Dissemination in the United States.

– 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 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.

Salt Lake Potash #SO4 – Director Shareholding

Salt Lake Potash Limited (“the Company”) advises that it has issued 750,000 new ordinary shares of the Company following the exercise of A$0.40 unlisted incentive options by Hopetoun Consulting Pty Ltd, a company in which Non-Executive Director, Mr Matthew Syme, has a beneficial interest.

Settlement and dealings

Application has been made to the AIM Market of the London Stock Exchange (“AIM”) for the admission of the 750,000 Ordinary Shares, which rank pari passu with the Company’s existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 20 May 2019 (“Admission”).

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (“DTRs”), following Admission, the Company will have 207,020,581 Ordinary Shares on issue with voting rights attached. The Company holds no shares in treasury. This figure of 207,020,581 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs.

Directors’ interests

Following the issue of these shares, the Mr Syme will have an interest in 5,250,000 shares representing 2.5% of the issued capital. Mr Syme also has an indirect interest in 1,750,000 incentive options and 1,000,000 performance rights. 

The Notifications below, made in accordance with the requirements of the EU Market Abuse Regulation and the listing rules of the ASX provide additional information.

For further information please visit www.so4.com.au or contact:

 

Tony Swiericzuk / Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 6559 5800

Jo Battershill

Salt Lake Potash Limited

Tel: +44 7540 366000

Colin Aaronson / Richard Tonthat / Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383
500

Derrick Lee / Beth McKiernan

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220
639

Rupert Fane / Ingo Hofmaier / Ernest Bell

Hannam & Partners (Joint Broker)

Tel: +44 (0) 20 7907
800

 

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Hopetoun Consulting Pty Ltd

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Hopetoun Consulting Pty Ltd is a company in which Non-Executive Director, Mr Matthew Syme, has a beneficial interest.

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Salt Lake Potash Limited

b)

 

LEI

 

 

213800WAVVOPS85N2205

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

Ordinary shares of  no par value

Identification code

AU000000SO44

b)

 

Nature of the transaction

 

 

Exercise of options

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

A$0.40

750,000

d)

 

Aggregated information

– Aggregated volume

Aggregate volume: 750,000

Aggregate price: 40 Australian cents

Aggregate total: A$300,000

– Price

e)

 

Date of the transaction

 

 

15 May 2019

f)

 

Place of the transaction

 

 

Off market transaction

 

  

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96  Origin: Appendix 5  Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

 

Name of entity

 SALT LAKE POTASH LIMITED

ABN

 98 117 085 748

We (the entity) give ASX the following information.

Part 1 ‑ All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1

+Class of +securities issued or to be issued

Ordinary Shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

750,000

3

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares

 

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

If the additional +securities do not rank equally, please state:

·    the date from which they do

·    the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

·    the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

 

5

Issue price or consideration

$0.40

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Exercise of Options.

 

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b – 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes

6b

The date the security holder resolution under rule 7.1A was passed

30 November 2018

6c

Number of +securities issued without security holder approval under rule 7.1

Nil

 

6d

Number of +securities issued with security holder approval under rule 7.1A

Nil

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

Nil

 

6f

Number of +securities issued under an exception in rule 7.2

750,000

6g

If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3?  Include the +issue date and both values.  Include the source of the VWAP calculation.

Not Applicable

 

6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

Not Applicable

6i

Calculate the entity’s remaining issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements

7.1 – 28,047,768

7.1A – 20,653,769

 

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12).  For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

15 May 2019

Number

+Class

8

Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)

207,020,581

Ordinary Shares

Number

+Class

9

Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable)

 

 

 

7,500,000

 

10,000,000

 

750,000

 

 

1,000,000

 

 

250,000

 

 

500,000

 

 

750,000

 

 

400,000

 

 

1,700,000

 

 

 

2,750,000

 

 

 

3,000,000

 

 

 

21,095,016

 

Class B Performance Shares

 

Class C Performance Shares

 

Incentive Options exercise price $0.50, expiry date 29 April 2020

 

Incentive Options exercise price $0.60, expiry date 29 April 2021

 

Incentive Options exercise price $0.40, expiry date 30 June 2021

 

Incentive Options exercise price $0.50, expiry date 30 June 2021

 

Incentive Options exercise price $0.60, expiry date 30 June 2021

 

Incentive Options exercise price $0.70, expiry date 30 June 2021

 

Incentive Options exercise price $0.60, expiry date 1 November 2023

 

Incentive Options exercise price $1.00, expiry date 1 November 2023

 

Incentive Options exercise price $1.20, expiry date 1 November 2023

 

Performance rights which are subject to various performance conditions to be satisfied prior to the relevant expiry dates between 31 December 2018 and 1 November 2023

10

Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Not Applicable

Part 2 ‑ Pro rata issue

11

Is security holder approval required?

Not Applicable

12

Is the issue renounceable or non-renounceable?

Not Applicable

13

Ratio in which the +securities will be offered

Not Applicable

14

+Class of +securities to which the offer relates

Not Applicable

15

+Record date to determine entitlements

Not Applicable

 

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

Not Applicable

17

Policy for deciding entitlements in relation to fractions

Not Applicable

18

Names of countries in which the entity has security holders who will not be sent new offer documents

Note: Security holders must be told how their entitlements are to be dealt with.

Cross reference: rule 7.7.

Not Applicable

19

Closing date for receipt of acceptances or renunciations

Not Applicable

20

Names of any underwriters

Not Applicable

21

Amount of any underwriting fee or commission

Not Applicable

22

Names of any brokers to the issue

Not Applicable

23

Fee or commission payable to the broker to the issue

Not Applicable

24

Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders

Not Applicable

25

If the issue is contingent on security holders’ approval, the date of the meeting

Not Applicable

26

Date entitlement and acceptance form and offer documents will be sent to persons entitled

Not Applicable

27

If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

Not Applicable

28

Date rights trading will begin (if applicable)

Not Applicable

29

Date rights trading will end (if applicable)

Not Applicable

30

How do security holders sell their entitlements in full through a broker?

Not Applicable

31

How do security holders sell part of their entitlements through a broker and accept for the balance?

Not Applicable

32

How do security holders dispose of their entitlements (except by sale through a broker)?

Not Applicable

33

+Issue date

Not Applicable

Part 3 ‑ Quotation of securities

You need only complete this section if you are applying for quotation of securities

34

Type of +securities

(tick one)

(a)

+Securities described in Part 1

(b)

All other +securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

 

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35

If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders

36

If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories

1 – 1,000

1,001 – 5,000

5,001 – 10,000

10,001 – 100,000

100,001 and over

37

A copy of any trust deed for the additional +securities

 

 

Entities that have ticked box 34(b) 

38

Number of +securities for which +quotation is sought

Not Applicable

39

+Class of +securities for which quotation is sought

Not Applicable

40

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

If the additional +securities do not rank equally, please state:

·    the date from which they do

·    the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

·    the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Not Applicable

41

Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another +security, clearly identify that other +security)

Not Applicable

Number

+Class

42

Number and +class of all +securities quoted on ASX (including the +securities in clause 38)

 

Quotation agreement

1           +Quotation of our additional +securities is in ASX’s absolute discretion.  ASX may quote the +securities on any conditions it decides. 

2          We warrant the following to ASX.

·           The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

·           There is no reason why those +securities should not be granted +quotation.

·           An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

·           Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

·           If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.

3          We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

4          We give ASX the information and documents required by this form.  If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins.  We acknowledge that ASX is relying on the information and documents.  We warrant that they are (will be) true and complete.

Sign here:            …………………………………………………..            Date: 15 May 2019

                             (Director/Company secretary)

Print name:         Clint McGhie

ECR Minerals #ECR wholly owned subsidiary Mercator Gold receives R&D development refund of approx GBP171k from Australian Government

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to provide an update in respect of a Research and Development refund received under the R&D Tax Incentive from the Department of Industry, Innovation and Science of the Australian Government.

Highlights:

  • Mercator Gold Australia Pty Limited (“MGA”) ECR’s 100% owned Australian subsidiary has received a cash Research and Development refund of A$318,971.73 (approximately £171,000);
  • The refund received relates to qualifying expenditure incurred by MGA in the year ended 30 June 2018;
  • In addition, MGA is entitled to submit a further claim for the year ended 30 June 2019 and based on current estimated qualifying expenditure the amount of the claim for the period to date will be approximately A$370,000 (approximately £198,000) which the Company would expect to receive in around August 2019, although there can be no guarantee that this amount will be obtained;
  • Finally, included within the MGA Tax Return for the year ended 30 June 2018, MGA has carried forward corporate income tax losses of A$66,203,862 (approximately £35.5million) in respect of historical losses which are available for carry forward.

Craig Brown, Chief Executive Officer commented: “I am pleased to confirm the receipt of a significant cash refund by MGA our Australian subsidiary. This incoming cash augments existing cash resources and will applied toward the Company’s active gold exploration programmes in Australia.

A further refund claim will be made for the year ended 30 June 2019 and based on current qualifying expenditure, we anticipate a claim of A$370,000 against which we would expect to receive cash payment around August 2019, based on our current planned financial accounts and tax reporting schedule although there can be no guarantee that this amount will be obtained.

We are grateful for the immense support offered by the Australian Government which we believe demonstrates the attractiveness of Australia as a destination for investment in exploration and development projects.

As a result of Government support, the Company’s cash resources are bolstered, enabling it to maintain a considerable and active exploration programme.”

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
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

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.

Brand CEO Alan Green talks Bidstack #BIDS, Eve Sleep #EVE & Bluebird Merchant Ventures #BMV on Vox Markets podcast

Brand CEO Alan Green discusses Bidstack #BIDS, Eve Sleep #EVE & Bluebird Merchant Ventures #BMV with Justin Waite on the Vox Markets podcast. The interview is 12 minutes 6 seconds in.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Announces Option Agreement on Its Lithium and Gold Tenements in Pilbara Region, W Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) that Macarthur Lithium Pty Ltd (“MLi”), a wholly owned subsidiary of Macarthur, has entered into an exclusive option agreement with Fe Limited (ASX: FEL) (“FEL”), for FEL to acquire an interest of up to 75% across 19 MLi tenements. These 19 tenements are highly prospective for gold, copper and lithium in proximity to numerous known hard rock lithium and gold deposits in the central and eastern Pilbara.

Highlights:

  • MLi has granted FEL a 45-day option to enable FEL to conduct due diligence and secure the required funding to proceed with exercising the option. The Company will pay a non-refundable option fee to MLi of AU$100,000 in cash (Option Fee).
  • Should FEL formally elect to exercise the option within the 45-day option period, AU$400,000 will be payable to MLi (Option Exercise Fee).
  • Upon payment of the Option Exercise Fee (Exercise Date), FEL will have the right to earn-in up to 75% interest in the Project.

MLi will act as JV manager and be paid a 10% project management fee (excluded from earn-in expenditure) and will be free carried until a pre-feasibility study is completed. FEL can withdraw from the earn-in at any time and without penalty.

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, including full details of the FEL earn-in terms can be found at: https://web.tmxmoney.com/article.php?newsid=6664824274204069&qm_symbol=MMS

Cadence Minerals CEO Kiran Morzaria commented: “As stated by Macarthur Exec Chairman Cameron McCall, this transaction will allow the company to focus its efforts towards bringing Macarthur’s Moonshine Magnetite iron ore projects into production. We at Cadence fully support this strategy given the current environment for the global iron ore market.”

This news release is not for distribution to United States Services or for Dissemination in the United States. 

– 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 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.

Cadence Minerals #KDNC – Hastings Technology Metals (ASX: HAS) takes key steps towards Yangibana development with additional accommodation camp purchase.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that Hastings Technology Metals (ASX: HAS) (“Hastings”) has announced that it has agreed to purchase an additional 100 bedrooms of camp capacity plus other associated infrastructure from Fleetwood Pty Ltd.

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 from Hastings News Release:

  • Hastings enters agreement to purchase 100 extra rooms plus associated infrastructure from Fleetwood Pty Ltd.
  • Purchase takes the total number of rooms purchased to 340 out of a total of 380 identified as required during the construction of the mine and processing plant.

The camp acquisition agreement represents a significant capital saving for the project and a discount of approximately 35% compared to the cost estimate of buying new.

The opportunity to acquire the camp, whilst being financially attractive, will also help reduce pressure on the development timetable. The balance of 40 rooms identified as a requirement during peak production will not be needed until approximately 8 months after commencement of construction.

The Yangibana Project involves the development of Rare Earth’s deposits rich in neodymium and praseodymium, elements vital to permanent magnets that provide many critical components of wide-ranging high-tech products, including electric vehicles, renewable energy wind turbines, robotics, medical applications and others. The development of this project is expected to bring benefits to the Gascoyne, Carnarvon and Meekatharra regions of northern Australia including through employment and business opportunities. The Yangibana Project aims to be the next significant producer of neodymium and praseodymium outside of China.

Full Hastings ASX announcement here:

https://www.asx.com.au/asxpdf/20190513/pdf/44517n3nrcljt0.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-LookingStatements:

Certain statements in this announcement are or may be deemed to be forward-lookingstatements. Forward-lookingstatements 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-lookingstatements 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 keypersonnel 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-lookingstatements.

Andrew Hore Quoted Micro 13 May 2019

NEX EXCHANGE

National Milk Records (NMR) improved revenues from £5.32m to £5.56m in the three months to March 2019. Disease testing revenues grew at the fastest rate. This quarter did not benefit from one-off revenues like the first two quarters of the financial year.

Gledhow Investments (GDH) reported a reduction in net assets to £735,000 at the end of March 2019. Gledhow has trebled its money in Block Energy and sold the stake, but most of the proceeds came after the end of March.

Primorus Investments (PRIM) believes that Sport:80 has missed the chance to float, but TruSpine still has a chance to become quoted. International payments and lifecycle software provider Zuuse could be ready for a flotation within 18 months.

Wheelsure Holdings (WHLP) has finally published its results for the year to August 2018. They show revenues falling from £226,000 to £96,000, although the loss was similar at £336,000. UK and Netherlands demand were weaker than expected.

Health and community care properties developer and modular buildings supplier Ashley House (ASH) says its joint venture Morgan Ashley has achieved financial close on two more projects. A further three could be closed in the current quarter. Even so, group pre-tax profit will be lower. There will be an update in July.

Sativa Investments (SATI) is changing its name to Sativa Group to reflect that it is a trading company with a greater focus on UK operations. The application for a Home Office research and development licence to grow medicinal cannabis is proceeding well. This is for its own requirements as well as growing some varieties for order.

Ace Liberty and Stone (ALSP) has acquired properties in Warrington and Middlesbrough for more than £10m. The Communities and Local Government department is the long-term tenant of both properties. The Warrington property cost £2.9m and the Middlesbrough property £7.125m.

In the first four months of 2019, NQ Minerals (NQMI) has produced 6,857 DMT of lead concentrate, 4,763 DMT of zinc concentrate and 29,389 DMT of pyrite concentrate.

Giles Brand has increased his stake in EPE Special Opportunities (ESO) from 23.1% to 30.5%. EPE has a NAV of 241.3p a share. Almon I Holding SA has a 3.16% stake in Coinsilium Ltd (COIN).

MetalNRG (MNRG) is delaying a move to the Main Market because of the uranium exploration ban in The Kyrgyz Republic, which means that the proposed farm-in agreement for the Kamushanovskoye uranium deposit has been suspended. Due diligence is progressing on the Thambani licence and the transaction agreement with Mkango Resources by the end of June. Once it has funding, MetalNRG will make progress with the Gold Ridge project.

Panther Metals (PALM) reported a doubled cash outflow from operating activities of £309,000 last year. There was £1,247 in the bank at the end of 2018.

AIM   

Begbies Traynor (BEG) says that trading was ahead of expectations. The business recovery and property services provider says both divisions performed well. Shore has upped its pre-tax profit forecast for the year to April 2019 by 6% to £7.1m, compared with £5.6m the year before. The full year figures will be published on 9 July.

Interactive Investor has decided not to make a bid for Share (SHRE).

RA International (RAI) has won two new contracts. A five year contract worth $9.8m has been awarded by the United Nations Support Office for vehicle and equipment fleet services in Somalia. This is for ten locations compared to one previously. There is also a contract for construction services relating to the US Embassy in Denmark.

Immupharma (IMM) intends to merge its two French subsidiaries and either get private equity backing or float the combined business on a European stockmarket. The business is developing the Nucant cancer programme (Elro) and the peptide platform (Ureka). Immupharma will concentrate on Lupus treatment Lupuzor and it is talking to potential corporate partners.

India-focused online fashion retail investment company Koovs (KOOV) has agreed a £10.5m cash injection at 15p a share by a subsidiary of Indian retailer Future Group.

Bidstack (BIDS) is raising £5m at 12.5p a share. This will finance the growth of the in-game advertising business. Bidstack reversed into Kin Group nine months ago and that that time raised cash at 6p a share.

Trading in contract research organisation Venn Life Sciences (VENN) shares is suspended ahead of the reverse takeover of Open Orphan DAC for £5.7m in shares. The strategy is to gain approval for and provide orphan drugs for the European market. Cash will be raised to fund the new strategy.

Keystone Law (KEYS) increased full year revenues from £31.6m to £42.7m and pre-flotation costs profit jumped from £2.54m to £4.75m. This year’s profit forecast had already been upgraded at the time of the trading statement and the figure is maintained at £5.6m. This year’s dividend is set to rise from 9p a share to 10.3p a share. The cash pile is expected to rise from £6.3m to £7m.

N+1 Singer has upgraded its profit forecasts for Cambria Automobiles (CAMB) following its interims. The pre-tax profit forecast for the year to August 2019 has been increased by 13% to £11m, up from £9.8m last year and not far off the figure for 2016-17. Capital investment is peaking and net debt is expected to rise to £9.1m by the end of August 2019. NAV is set to rise to 68p a share.

Vertu Motors (VTU) reported strong full year figures with growth in used cars and aftersales offsetting the downturn in new car sales. Pre-tax profit of £23.7m was higher than forecast but lower than the £28.6m reported for the previous year. Cash generation is also better than expected. This year’s forecast has been trimmed to £25.7m. The share price remains below its NAV of 44.9p a share.

Osirium Technologies (OSI) is considering raising additional funds in order to fully exploit its new product. Opus is a cyber security product for IT process automation. Additional business development managers and distribution partners have been taken on and additional cash would enable further geographic expansion. Osirium is good at retaining clients and Opus provides an additional product to sell to them.

Packaging manufacturer Robinson (RBN) has increased its revenues by 15% in the first four months of the year and most of that is due to higher volumes. This means that it is well on its way to growing full year revenues from £32.8m to £36.1m even though second quarter revenues may be lower due to destocking. Further capital spending has been funded by cash from operations.

MAIN MARKET 

Ingredients supplier Treatt (TET) increased interim revenues by 6% to £56.6m and pre-tax profit was 7% higher at £6.2m. Additional shares in issue mean that earnings per share were slightly lower. The core citrus business revenues fell slightly but other areas grew. Net cash was £9.4m at the end of March 2019. This will be spent on the relocation of UK operations and there will be net debt by the end of September 2019.

Air Partner (AIR) slipped out its figures for the year to January 2019 well after the market closed on Thursday. Even so, there was a positive share price reaction and there were no real disappointments. Underlying pre-tax profit was flat at £5.8m. The total dividend was edged up to 5.6p a share.

Macfarlane (MACF) has acquired protective packaging distributor Ecopac for £3.9m. A pre-tax profit of £500,000 was generated in 2017-18. Macfarlane will provide additional products for Ecopac to distribute.

Argo Blockchain (ARB) will hold the requisitioned general meeting on 16 May. Frank Timis is hoping to change the strategy of the company and conserve the cash pile for other uses. He wants Jonathan Bixby and Mike Edwards removed from the board. Argo expected to generate £220,000 in cryptoassets in April, which is similar to cash operating costs. These costs are expected to rise to £300,000 in May but the month should still be cash neutral.

Cardiff Property (CDFF) increased its NAV from 21.78p a share to 21.84p a share in the six months to March 2019. The interim dividend has been raised by 5% to 4.6p a share. Activity in the Thames Valley area has slowed in the first half.

Andrew Hore

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