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Cadence Minerals (KDNC) – Director Share Purchases

As announced in December 2017 the Directors all entered into a Defined Director Purchase Programme (“DDPP”) in which they will each purchase £1,000 of ordinary shares per month for 12 months. These shares will be purchased from the market on the first Friday of each month starting on 2nd February 2018 and ending the 4th January 2019. The market will be notified of the purchases on the next trading day via a PDMR; Directors dealing notification.

The Directors have entered into a DDPP in an open period and under this programme are therefore committed to the purchase of shares in what otherwise may be a close period. Entering into the DDPP does not preclude the directors from buying additional shares in the Company during open periods.

Details of the Director purchases are contained in the table below. Due to administrative reasons, associated with the termination of the ADR, as date of this publication Adrian’s broker were unable to complete the purchase of his DDPP for the month of December 2018, it is envisaged that this will be completed within the week.

Director

Position

Number of ordinary shares acquired

 Price paid per share (pence)

Andrew Suckling

Non-Executive Chairman

723,404

0.14

Kiran Morzaria

Director & CEO

723,404

0.14

Donald Strang

Finance Director

702,989

0.14

After these acquisitions, the total notifiable share interest in the Company for the directors is as follows

Director

Position

Andrew Suckling

Non-Executive Chairman

5,578,901

Kiran Morzaria

Director & CEO

14,671,860

Donald Strang

Finance Director

12,300,000

Adrian Fairbourn

Non-Executive Director

11,933,872

 Total

44,484,633

 

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

Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore

Ingo Hofmaier

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Kiran Morzaria

2

Reason for the notification

a)

Position/status

Director & CEO

b)

Initial notification/ Amendment

Initial notification

3

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

a)

Name

Cadence Minerals PLC

b)

LEI

213800TUZWG9C2GRNO58

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

 

Identification code

Ordinary Share

 

 

GB00B067JC96

b)

Nature of the transaction

Defined Directors Share Purchase Programme

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.0014

723,404

d)

Aggregated information

–      Aggregated volume

–      Price

 

723,404

0.0014

e)

Date of the transaction

10/12/2018

f)

Place of the transaction

XLON, AIM

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Donald Strang

2

Reason for the notification

a)

Position/status

Finance Director

b)

Initial notification/ Amendment

Initial notification

3

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

a)

Name

Cadence Minerals PLC

b)

LEI

213800TUZWG9C2GRNO58

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

 

Identification code

Ordinary Share

 

 

GB00B067JC96

b)

Nature of the transaction

Defined Directors Share Purchase Programme

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.0014

702,989

d)

Aggregated information

–      Aggregated volume

–      Price

 

702,989

0.0014

 

e)

Date of the transaction

10/12/2018

f)

Place of the transaction

XLON, AIM

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Andrew Suckling

2

Reason for the notification

a)

Position/status

Non-Executive Chairman

b)

Initial notification/ Amendment

Initial notification

3

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

a)

Name

Cadence Minerals PLC

b)

LEI

213800TUZWG9C2GRNO58

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

 

Identification code

Ordinary Share

 

 

GB00B067JC96

b)

Nature of the transaction

Defined Directors Share Purchase Programme

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.0014

723,404

d)

Aggregated information

–      Aggregated volume

–      Price

 

723,404

0.0014

e)

Date of the transaction

10/12/2018

f)

Place of the transaction

XLON, AIM

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

Cadence Minerals (KDNC) – Auroch Minerals (ASX: AOU) drilling intersects veins of Zinc-Lead mineralization at Bonaventura. Submit questions for Live Webinar.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Auroch Minerals (ASX:AOU) ‘Auroch’ that it has successfully completed its maiden drilling programme at its 100%-owned Bonaventura Project in South Australia, intercepting significant base-metal mineralisation at its Dewrang and Grainger Prospects.

Highlights:

  • Drilling at the Grainger Zinc Prospect (Bonaventura Project) intersected significant vein sets of zinc-lead mineralisation in fresh rock at shallow depth, best intercepts include:
    • 6.0m at 1.53% zinc and 0.21% lead from 28.3m, including 1.0m at 4.50% zinc and 0.34% lead from 33.3m.
    • 7.0m at 1.65% zinc and 0.26% lead from 64.2m, including 1.0m at 4.14% zinc and 0.66% lead from 70.2m.
  • Further drilling at the Dewrang Prospect (Bonaventura Project) intersected significant base-metals mineralisation coincident to a previously defined 1.5km geophysical IP anomaly.

Auroch is planning a structural geology study of the Grainger Prospect in order to better understand the deformational history of the target area and the structural control over mineralisation in order to potentially define target areas of thicker mineralisation and/or higher grades. Samples will also be tested in order to determine which geophysical survey method might be used to best define potential zones of base-metal mineralisation and thus locate possible drill targets for the next phase of drilling at the Grainger Prospect.

The Dewrang Prospect remains a priority target area for Auroch since the drilling has demonstrated that the 1.5km long IP chargeability anomaly appears to correlate with base metals mineralisation. Additionally, historic surface soil-sampling highlighted the area as highly-anomalous in both zinc and lead. The geology team will continue to build the geological database, in order to develop these targets and define new target areas within the large tenement package, with the intent of defining targets for the next phase of drilling at the Bonaventura Project in the first half of 2019.

Cadence currently owns 6.6% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://www.investi.com.au/api/announcements/aou/da1a4983-be2.pdf

Cadence Minerals CEO Kiran Morzaria commented: “The portfolio of assets owned by Auroch Minerals continue to add value to the investment proposition. Following from last week’s news of the new license areas at the Lake Torrens IOCG tenement, Auroch has intersected and confirmed base metals mineralisation at its two highest-priority targets at Bonaventura. We look forward to further developments from Grainger and Dewrang prospects following the report from Auroch’s geology team”

Live Webinar; Monday 10 December

Cadence is pleased to announce the Company will be hosting a live webinar at 10.00am GMT on Monday 10 December 2018. The live webinar will be available on the following link:

http://webcasting.brrmedia.co.uk/broadcast/5bf432bda05b353a6df23e7f

Listeners are encouraged to submit questions prior to the call by emailing cadence@brrmedia.co.uk or by clicking on the question button at the foot of the webcast.

Summary of Investments

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

– Ends –

For further information:

Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling  
Kiran Morzaria  
   
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce  
James Sinclair-Ford  
   
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore  
Giles Fitzpatrick  
   
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.

 

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.

 

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

 

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

 

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are 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 – Auroch Minerals (ASX: AOU) Stakes Highly-Prospective IOCG Project at Lake Torrens plus Live Webinar

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Auroch Minerals (ASX:AOU) ‘Auroch’ that it has applied for a large exploration tenement package in the Lake Torrens region of South Australia. Auroch’s Torrens East Copper Project comprises two exploration licence applications (ELAs) covering a combined area of 1,622km2 and is considered highly-prospective for IOCG (iron oxide – copper – gold) mineralisation.

Highlights:

  • Auroch has pegged 1,622km2 of ground considered highly-prospective for Iron Oxide -Copper – Gold (IOCG) mineralisation in the Lake Torrens region of South Australia.
  • The large exploration licence applications (ELAs) are situated adjacent to the Torrens JV (70% Aeris Resources Ltd; 30% Argonaut Resources NL) and cover the same large gravity anomaly.
  • The ELAs are located approximately 50km from BHP’s recently-announced drilling in the Olympic Dam copper-gold province, host to the world-class Olympic Dam (BHP Group Ltd) and Carrapateena (Oz Minerals Ltd) IOCG deposits.
  • A review of all historical geophysical and geological data is underway with an exploration programme planned for early 2019.

The Torrens JV (70% Aeris Resources Ltd (ASX:AIS); 30% Argonaut Resources NL (ASX:ARE)) lies immediately west of Auroch’s Torrens East Copper Project within the Torrens Hinge Zone of the Olympic Dam copper-gold province. High-resolution aeromagnetic and gravity geophysical surveys within the Torrens JV has identified a coincident magnetic and gravity anomaly similar to, but larger than that of Olympic Dam. The JV intends to commence a drilling programme to test this geophysical target before the end of this year. BHP Group Limited (ASX:BHP) has also been actively exploring for copper in the Olympic Dam copper gold province. Results announced from their recent drilling programme approximately 50km from Auroch’s Torrens East Copper Project include:

  • 7m @ 3.04% Cu and 0.59g/t Au, including 180m @ 6.07% Cu and 0.92g/t Au;
  • 406m @ 0.66% Cu and 0.35g/t Au;
  • 5m @ 0.52% Cu and 0.48g/t Au; and
  • 77m @ 2.11% Cu and 0.54g/t Au.

BHP is currently evaluating and interpreting these results and intends to commence a follow-up drill programme in early 2019.

Cadence currently owns 6.6% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://www.investi.com.au/api/announcements/aou/697e8de9-fc9.pdf

Cadence Minerals CEO Kiran Morzaria commented:“Following on from the exciting developments announced recently at Auroch’s Arden project, Aidan Platel and his team continue to add value to the Auroch investment proposition with the highly prospective Lake Torrens IOCG tenement. Given the exceptionally strong set of drilling results from BHP Group at the nearby Olympic Dam copper gold province, and the encouraging survey data from the adjacent Torrens JV, we at Cadence believe there is ample evidence to support Auroch’s exploration programme across these new license areas.”

Live Webinar:

Cadence is pleased to announce the Company will be hosting a live webinar at 10.00am GMT on Monday 10 December 2018. The live webinar will be available on the following link:

http://webcasting.brrmedia.co.uk/broadcast/5bf432bda05b353a6df23e7f

Listeners are encouraged to submit questions prior to the call by emailing cadence@brrmedia.co.ukor by clicking on the question button at the foot of the webcasting.

 

Summary of Investments

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

– Ends –

For further information:

Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore
Giles Fitzpatrick
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.

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.

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 achievinghigh 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 keymarketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments. 

Forward-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.

Cadence Minerals #KDNC CEO Kiran Morzaria talks to Justin Waite on the Vox Markets podcast.

Cadence Minerals #KDNC CEO Kiran Morzaria talks to Justin Waite on the Vox Markets podcast. Interview starts at 9 minutes 12 seconds.

Brand CEO Alan Green talks Itaconix #ITX, Cadence Minerals #KDNC and Griffin Mining #GFM on Vox Markets podcast

Alan Green CEO of Brand Communications discusses Itaconix #ITX, Cadence Minerals #KDNC and Griffin Mining #GFM with Justin Waite on the Vox Markets podcast. The interview is 25 minutes 25 seconds in.

Cadence Minerals #KDNC participates in European Metals #EMH £1m fundraising for Cinovec Lithium project. Live webcast also scheduled.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by European Metals Holdings Limited (“European Metals” or “EMH”). EMH has today raised gross proceeds (before expenses) of £1,035,500 via a share placing (“Placing”), issuing 5,177,500 new ordinary shares (represented by Chess Depositary interests or “CDIs”) with new and existing investors at an issue price of 20 pence per new ordinary share, representing an approximate 13 percent discount to the EMH closing mid-market price of the ordinary shares on 16 November 2018.

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

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

  • To progress the Company’s drilling programme and upgrade its resource model to include measured resources and facilitate an estimation of proven reserves;
  • Begin the engineering process for a Definitive Feasibility Study;
  • Progress Environmental Impact Assessments for mining and processing;
  • Operate a pilot plant for production of samples for marketing; and
  • Progress discussions with potential strategic partners.

Cadence holds 19.16% of the equity in European Metals, which, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over Cinovec.

The full release can be found at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13872288.html.

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

Live Webcast

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

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

– Ends –

For further information:

Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore
Giles Fitzpatrick
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.

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.

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 achievinghigh 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 keymarketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

Forward-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.

Lithium Market `Problematic’ on Project Delays, Livent CEO Says – Bloomberg

Bloomberg Business – By  and 

Lithium Market `Problematic’ on Project Delays, Livent CEO Says

The lithium industry’s struggle to match booming demand for the rechargeable-battery ingredient is “problematic” and will further tighten the market, according to the only lithium pure-play trading in New York.

“It’s almost impossible for me to see a meaningful decrease” in lithium prices, Livent Corp. Chief Executive Officer Paul Graves said in a telephone interview Tuesday after the company presented quarterly earnings. “Whenever you have less supply than expected, it will create more tightness.”

Santiago-based SQM was the latest lithium producer to report a project delay as suppliers react to global demand that, according to Graves, probably will quadruple by 2025 as electric-vehicle sales accelerate.

Livent, spun off from chemicals giant FMC Corp. and listed on the New York Stock Exchange last month, is also planning to expand operations at the Hombre Muerto salt flat in Argentina. The company has all the approvals it needs to start construction there, Graves said. Livent will ramp up its first 9,500-ton-per-year expansion in the second half of 2020 and will work toward three more expansions of similar size through 2024.

Read the story on Bloomberg Business

Cadence Minerals #KDNC – Auroch Minerals (ASX: AOU) Drilling Programme Identifies Large Sedex Zinc Potential at Arden

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Auroch Minerals (ASX:AOU) ‘Auroch’ that it has successfully completed its maiden drilling programme at the Arden Project, in South Australia, with all ten drill-holes encountering horizons of Sedimentary Exhalative (SEDEX) zinc and/or copper mineralisation.

Highlights:

  • Maiden drill programme at Arden intercepts base-metals mineralisation in all 10 drill-holes.
  • Up to 3 horizons of SEDEX zinc mineralisation identified at the Ragless Range Prospect within the Arden Project, extending over 3km of strike and open in every direction.
  • Best intersection was from drill-hole RRDD-007:
    • 15m @ 7.52% Zn & 0.02% Pb from 57.65m, including 3.65m @ 15.47% Zn & 0.02% Pb from 62.15m.
  • Additional mineralised bands up to 24% Zn identified in drill-hole RRDD-007 by portable XRF subsequent to initial assay results – laboratory assays are pending.

Assays are pending from additional intervals of drill-core sampled subsequent to re-logging of zones surrounding mineralisation at Ragless Range. Auroch’s geology team will continue to use pXRF, surface mapping and surface sampling techniques to build the geological database, with a focus on areas where large interpreted structures meet the projected location of the mineralised SEDEX horizons. These focussed target areas will be tested with ground geophysical surveys with the intent of defining target areas for the next phase of drilling at the Arden Project in the first half of 2019.

Cadence currently owns 6.6% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://www.investi.com.au/api/announcements/aou/8d48f77d-f8b.pdf

Cadence Minerals CEO Kiran Morzaria commented:“This is a positive initial drilling result from Auroch’s Arden project. As CEO Aidan Platel says, the company has exceeded its objectives in the maiden drill programme, not only confirming previously defined SEDEX mineralisation, but (a) identifying concentrated mineralisation that potentially improves the economic grades of the metal inventory and (b) discovering another two SEDEX zinc mineralised horizons that had not previously been identified. Most importantly, this result increases the potential scale of the Arden SEDEX base-metal system, and provides further validation for our investment into Auroch Minerals.

We look forward to assay results and further news from Auroch as the project develops.”

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

– Ends –

For further information:

Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore
Giles Fitzpatrick
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.

 

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.

 

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 achievinghigh 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 keymarketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

 

Forward-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.

Autoblog – Stung by Asian dominance, Germany pours cash into EV battery ventures.

Reporting by Michael Nienaber; additional reporting by Edward Taylor, Ilona Wissenbach, Ludwig Burger and Andrea Shalal.

BERLIN — Germany has earmarked 1 billion euros ($1.2 billion) to support a consortium looking to produce electric car battery cells and plans to fund a research facility to develop next-generation solid-state batteries, three sources told Reuters.

The measures, expected to be announced next week, are designed to reduce the dependence of German carmakers on Asian electric vehicle (EV) battery suppliers and protect German jobs at risk from the shift away from combustion engines.

Berlin’s push to shape industrial policy marks a break with its generally “hands off” approach to business decisions and is part of European efforts to forge battery alliances to counter the dominance of Chinese, Japanese and Korean firms.

Ensuring local companies are involved throughout the electric vehicle supply chain is particularly important for Germany as it has become so economically dependent on the success of its car industry.

But Germany’s car battery push could be too late. Asian market leaders are ramping up output and some experts say there’s a risk of a glut that could hinder the establishment of large-scale battery cell production by European newcomers.

For Chancellor Angela Merkel’s fractious ruling coalition, the plan is also a way to show voters ahead of three elections next year in eastern Germany that it can get its act together to help Europe’s largest economy thrive in the electric car era.

“We have a concentration of risk in the automobile sector. The industry is too dependent on the combustion engine,” Deputy Economy Minister Christian Hirte told Reuters. “The government therefore wants to help the sector in its efforts to diversify.”

Hirte said Berlin was in talks with several companies and other governments in Europe to support a battery cell factory.

“There are possibilities for example in the Lausitz region, maybe in cooperation with Poland,” said Hirte, who is the government’s coordinator for Eastern German affairs and for small- and medium-sized enterprises policy.

“One thing is clear: you cannot ignore east Germany if you are planning such mega projects. There is a lot of space and the acceptance among the population is great.”

Companies involved in talks with Economy Minister Peter Altmaier about building a factory include German battery maker VARTA Microbattery, chemical giant BASF and Ford’s German subsidiary Ford-Werke GmbH, three people familiar with the matter told Reuters.

A spokeswoman for BASF said it would attend a meeting with Altmaier next week. Varta and Ford declined to comment.

Varta specializes in batteries for hearing aids and large storage systems for solar energy. It said last month it was studying the production of large lithium batteries and was in intensive discussions with relevant market actors.

TOO LATE?

Volkswagen’s supervisory board is due to discuss its electric car and battery cell strategy at a meeting on Nov. 16. The German carmaker has said in the past that it was studying battery cell production at its plant in Salzgitter.

A source told Reuters on Thursday that the board would discuss a far-reaching alliance with South Korean battery cell maker SK Innovation.

Some analysts say Europe is already too far behind in the race with Asian firms, at least with the current technology.

Boston Consulting Group (BCG), for example, has estimated global battery cell production capacity will exceed demand by about 40 percent in 2021, exerting massive pressure on prices and making it hard for new entrants to make money.

South Korea’s LG Chem is already supplying some German carmakers with EV batteries made in Poland while Samsung SDI Co and SK Innovation are planning factories in Hungary.

The announcement by the world’s biggest EV battery maker — China’s Contemporary Amperex Technology Ltd (CATL) — that it would build its first European plant in eastern Germany and has struck a deal with German carmaker BMW has been welcomed by the government.

But Merkel told business leaders it was “extremely important” Germany also develops its own battery cell capacity to secure the country’s role in the car industry.

For years, German car bosses have been reluctant to push ahead with electric cars, instead focusing on diesel engines. But they now face a challenge to make combustion engines comply with tougher emissions rules introduced following the emissions cheating scandal that engulfed Volkswagen.

Despite BCG’s predictions of a glut, analysts at consultants McKinsey & Company and Germany’s Fraunhofer Institute say there will be room for European newcomers as demand is likely to outstrip supply when automakers ramp up EV production.

German carmakers have warned, however, that jobs could disappear — because it takes less time to build electric cars and as positions shift overseas to foreign battery makers.

Germany’s VDA auto industry association has said a ban on combustion engine-powered vehicles in 2030 would threaten 436,000 jobs at car companies and their suppliers.

“Battery cells are a key technology and an important part of the value chain. That’s why we want to locate this in Germany,” Hirte said.

EUROPEAN ALLIANCE

Recognizing the importance of a homegrown battery industry for jobs and profits, the European Commission launched its own European Battery Alliance (EBA) in 2017 but Sweden’s Northvolt is seen as the only serious contender to emerge so far.

As part of Berlin’s push, Economy Minister Altmaier is talking to German and European companies as well as neighboring countries to try to join forces. He is coordinating his efforts with Brussels to resolve any state aid and antitrust issues.

“In a few years, Europe will have a competitive battery cell sector that can survive without state aid,” Altmaier said in September after meeting the E.U.’s Vice-President for Energy Union Maros Sefcovic, who has been the driving force behind the EBA.

Altmaier is expected to announce more details of his battery cells plan during a two-day conference in Berlin starting on Nov. 12 that will be attended by Sefcovic.

The billion euros earmarked for a German battery cells consortium would help establish a first factory, probably in western Germany, two sources familiar with the plans said.

Berlin is also willing to support a second plant, possibly in the Lausitz region near the German-Polish border where two of the regional elections in 2019 will take place, they said.

An Economy Ministry spokeswoman said Altmaier was in talks with all relevant parties and no decisions had been made.

In addition, the government wants to spend up to 500 million euros to co-finance a research factory to help put German companies ahead of the curve when solid-state batteries are ready for the mass market, another source told Reuters.

Lithium-ion batteries are likely to be overtaken in a matter of years by solid-state technology that is expected to produce cheaper batteries with higher energy density.

The location of the research factory has not been decided and the government is about to start a tender process in which authorities and firms can pitch for the site, the source said.

A Science Ministry spokesman said the government was supporting efforts to develop solid state batteries by bringing together leading research institutes with the private sector.

Companies involved in the network, known as FestBatt, include Varta, BASF, Volkswagen, BMW, car parts maker Continental, conglomerate Thyssenkrupp, carbon fiber specialist SGL Carbon, Belgian materials firm Umicore, Coperion and Heraeus, the spokesman said.

For now, German carmakers are sourcing battery cells predominantly from Asian suppliers such as CATL, LG Chem and Samsung SDI although BMW has struck a partnership with Northvolt.

Underlining the uphill battle German firms face, one of the world’s biggest automotive suppliers, Bosch, has opted out of making lithium-ion cells, saying it would be too costly.

Hans-Martin Henning, an electric mobility researcher at Fraunhofer, is less pessimistic.

“If automakers boost their electric car production to 10 to 20 percent of total sales in coming years, Europe will need battery cell factories with more than 100 gigawatt hours,” he said, well above the capacity planned by Asian producers so far.

“We’ll need far more battery cells in Europe — and this must happen pretty fast indeed,” Henning said.
The expected shift to solid-state batteries could also make European suppliers less dependent on the rare earth resources largely controlled by China that are used in lithium-ion cells.

“The landscape will change dramatically in coming years,” Porsche CEO Oliver Blume told Reuters. “Europe absolutely has a chance.”

Full article here

Battery Energy Storage Is A $1 Trillion Opportunity As Costs Continue To Crash – Forbes

Companies such as Sweden’s Box of Energy, which recycles lithium-ion car and bus batteries for use in energy storage, is among the companies likely to profit from the growth of the sector. Photographer: Mikael Sjoberg/Bloomberg

Article by Mike Scott, Forbes

Large-scale energy storage used to be part of the future of energy. But it’s here now, and it’s going to become increasingly important in the years to come.

Clean energy researchers at Bloomberg NEF (BNEF) find that more than $1 trillion will be invested in the sector between now and 2040. The group’s latest Long-Term Energy Storage Outlook says that the “tumbling costs of utility-scale lithium-ion battery storage systems will transform the economic case for batteries in both the vehicle and the electricity sector”, predicting that prices will fall by 52% between 2018 and 2030, adding to the steep declines already experienced this decade.

This will lead to $1.2 trillion of investment flowing to the sector in the next 22 years, creating a cumulative capacity of 942GW, BNEF said. In the near term, the market will be dominated by South Korea and the US, but China will be the driving force from the 2020s onward.

Energy storage is key to helping governments decarbonize their economies by using more renewable energy because the dominant sources, wind and solar, are intermittent and do not provide constant power. “ Cheap batteries mean that wind and solar will increasingly be able to run when the wind isn’t blowing and the sun isn’t shining ,” the report says.

 Yayoi Sekine, energy storage analyst for BNEF and co-author of the report, said: “We have become much more bullish about storage deployments since our last forecast a year ago. This is partly due to faster-than-expected falls in storage system costs, and partly to a greater focus on two emerging applications for the technology – electric vehicle charging, and energy access in remote regions.”

Logan Goldie-Scot, head of energy storage at BNEF, added: “We see energy storage growing to a point where it is equivalent to 7% of the total installed power capacity globally in 2040. The majority of storage capacity will be utility-scale until the mid-2030s, when behind the meter applications overtake.”

Behind-the-meter, or BTM, applications will be installed in business and industrial premises, and in millions of homes. For their owners, they will perform a variety of tasks, including shifting grid demand in order to reduce electricity costs, storing excess rooftop solar output, improving power quality and reliability, and earning fees for helping to smooth voltage on the grid.

Two thirds of installed capacity in 2040 will be in just nine markets – China, the US, India, Japan, Germany, France, Australia, South Korea and the UK, the Outlook says. However, there will also be rapid growth in other markets, especially emerging markets in Africa. Utilities are likely to “recognize increasingly that isolated assets combining solar, diesel and batteries are cheaper in far flung sites than either an extension of the main grid or a fossil-only generator,” the report says.

Energy storage can play a number of roles in the electricity system, helping to balance variable supply and demand, helping the grid operate more efficiently and allowing individual customers to cut their bills by cutting peak-time use . Eventually, it may be possible to aggregate lots of behind-the-meter projects to provide a viable alternative to utility-scale for many applications but it will take years before regulatory frameworks in some countries fully allow this, BNEF says.

Nonetheless, energy storage will become a practical alternative to new-build generation or network reinforcement, the analysts say.

But even with this rapid growth in the market, BNEF says that stationary storage sector will make up only 7% of total battery demand in 2040. “It will be dwarfed by the electrical vehicle market, which will more materially impact the supply-demand balance and prices for metals such as lithium and cobalt,” the Outlook concludes.

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