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Cadence Minerals (KDNC) – Auroch Minerals (ASX: AOU) – Gravity Survey Provides Compelling Drill Target at Arden.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX: AOU) (“Auroch”) that it has successfully completed a detailed ground-gravity survey at its Arden Project (Arden) near Port Augusta, South Australia. The survey successfully delineated an intense gravity anomaly extending over 2km at the Ragless Range prospect. The anomaly may be indicative of thickened mineralised horizons of the high-grade zinc mineral smithsonite that was identified in drill-hole RRDD007, which has a very high density and hence contrasts greatly with the relatively low-density sedimentary host rocks of the area.

Highlights:

  • A detailed ground-gravity survey was completed at the Arden Zinc Project in South Australia
  • The high-resolution survey delineated a significant gravity anomaly extending over 2km at the Ragless Range prospect, coincident with areas of anomalous zinc values at surface
  • The gravity anomaly may be indicative of thickened mineralised horizons of the high-density, high-grade zinc mineral smithsonite that was identified in drill-hole RRDD007, and provides a direct targeting tool for the next phase of drilling
  • The Company continues to advance the Horn and Saints Nickel Projects in Western Australia towards a maiden drilling programme in the coming month  

Located some 335km north of Adelaide, the Arden Project boasts a large relatively unexplored exploration area of 1,664km2 and is highly prospective for sedimentary-exhalative (SEDEX) mineralisation. Within the Arden Project, up to three horizons of SEDEX zinc mineralisation were identified from the recent drilling programme at the Ragless Range Prospect extending over 3km of strike and open in every direction.

Cadence currently owns approximately 6.5% 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/7851ea69-490.pdf

Cadence Minerals CEO Kiran Morzaria commented: “Under the guidance of Aidan Platel and his team, the Auroch investment case continues to build. Cadence Minerals look forward to the next phase of developments.”

– 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 – Auroch Minerals (ASX: AOU) to acquire High-Grade Western Australian Nickel Projects.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX: AOU) (“Auroch”) that it has entered into a binding agreement with Minotaur Exploration Pty Ltd (ASX:MEP) (“Minotaur”) to acquire 100% of the tenements known as the Saints Nickel Project (“Saints”) and the Leinster Nickel Project (“Leinster”).

Highlights:

  • Binding agreement with Minotaur Exploration Ltd (ASX: MEP) to acquire the Saints and Leinster Nickel Projects located in Western Australia for a total consideration of $1.5M.
  • The Saints and Leinster Projects are advanced, high-quality nickel sulphide projects with the following Inferred Resources:
    • Saints – 1.05Mt @ 2.00% Ni, 0.20% Cu, 0.06% Co for 29.5kt Ni, 1.6kt Cu, 0.6kt Co.
    • Leinster (The Horn) – 0.60Mt @ 1.39% Ni, 0.30% Cu for 8.3kt Ni, 1.8kt Cu.
  • Both projects remain open down-plunge and along strike, with significant proximal exploration potential through untested or partially-tested electromagnetic (EM) conductors.
  • The 121.5km2 tenement package is considered both highly prospective and under-explored, hosting extensive ultramafic rock packages and a number of drill-ready nickel sulphide targets within one of the highest-producing nickel belts in Australia.

Auroch’s acquisition of the Saints and Leinster projects aims to unlock the latent value of high-grade nickel sulphide assets. Auroch will provide a dedicated management team to aggressively explore the projects, which have historically seen limited nickel exploration. The combined portfolio of high-grade nickel sulphide assets provides a solid base for Auroch to systematically explore high-priority targets and emerge as the next significant nickel developer on the ASX.

The Saints high-grade deposit of 1.05Mt @ 2.00% Ni, 0.20% Cu, 0.06% Co3 remains open down-plunge and along strike with noteworthy proximal exploration potential through untested or partially tested electromagnetic (EM) conductors. Significant high-grade intercepts at the Saints Nickel Project include 2.0m @ 3.17% Ni from 171m depth. Auroch has identified high priority exploration targets for immediate drill testing that have the potential to extend the currently defined resource.

Leinster is prospective for both nickel and gold and is strategically located in a historic nickel region around Leinster-Waterloo, proximal to existing infrastructure. Significant historic intercepts include 14.66m @1.95% Ni and 0.35% Cu from 132.6m depth. The Horn deposit of 0.60Mt @ 1.39% Ni and 0.30% Cu6 remains open down-plunge and along strike and Auroch will systematically explore extensional targets with the aim of extending the currently JORC 2004 Code defined resource and converting to it to the JORC 2012 Code..

Cadence currently owns approximately 6.5% 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/08c02b4a-90e.pdf

Cadence Minerals CEO Kiran Morzaria commented:“The acquisition of Saints and Leinster Nickel projects represents another milestone for Aidan Platel and the Auroch team, and an excellent addition to Auroch’s existing portfolio of projects. As highlighted in the announcement, both projects offer multiple drill-ready targets that will be tested immediately. We look forward to the the results and subsequent developments.”

– 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-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) – Ground Gravity Survey Commences at Arden Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX: AOU) (“Auroch”) that it has initiated a ground-gravity survey at its Arden Project (Arden) near Port Augusta, South Australia. The detailed survey will cover two highly-prospective target areas of the Ragless Range prospect as well as a third target area at the Radford Creek prospect.

Auroch have appointed Atlas Geophysics Pty Ltd (Atlas) to undertake the Arden gravity survey, and it is estimated it will take approximately a week to complete. The survey will be completed on a very close spacing of 15m between stations to be able to define dense mineralised horizons as little as 3m thick. The initial line-spacing has been planned at 125m – 200m, which may be infilled to closer spacing as needed as the survey progresses.

Located some 335km north of Adelaide, the Arden Project boasts a large relatively unexplored exploration area of 1,664km2 and is highly prospective for sedimentary-exhalative (SEDEX) mineralisation. Within the Arden Project, up to three horizons of SEDEX zinc mineralisation were identified from the recent drilling programme at the Ragless Range Prospect extending over 3km of strike and open in every direction.

Cadence currently owns approximately 6.5% 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/8a06cc4c-a73.pdf

Cadence Minerals CEO Kiran Morzaria commented:“Aidan Platel and the Auroch team continue to build the investment case for Cadence Minerals. We look forward to the survey results and subsequent developments.”

– 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-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.

Iron ore prices surge on renewed uncertainty over Brazilian and Australian supply

Article by Business Insider – April 1st 2019

  • Iron ore spot markets rose strongly across the board on Friday.
  • Uncertainty over supply disruptions in Brazil and Australia, along with firmer steel prices, likely explain the size of the gains recorded during the session.
  • China’s official manufacturing and non-manufacturing PMIs both improved in March compared to the levels reported in February.
  • The Caixin-IHS Markit China manufacturing PMI report for March will be released on Monday.

Iron ore prices rallied on Friday, supported by renewed uncertainty over Brazilian and Australian supply.

According to metal Bulletin, the spot price for benchmark 62% fines jumped 2.5% to $86.81 a tonne, logging its largest gain in two weeks.

The gains in higher grades were even larger with 65% fines soaring 3% to $99.30 a tonne, leaving it just below the multi-year highs struck in early February.

Lower grades also rallied with 58% fines adding 1.6% to $72.14 a tonne.

The across the board gains coincided with renewed uncertainty over the outlook for Brazilian and Australian iron ore supply, two of the largest seaborne exporters globally.

On Thursday, Brazilian miner Vale lowered its iron ore sales forecasts to a range of 307 to 322 million tonnes this year, down from an earlier estimate of 382 million tonnes.

“The price implications from Vale’s guidance and commentary are significant,” said Vivek Dhar, Mining and Energy Commodities Analyst at the Commonwealth Bank.

“Given the physical nature of iron ore markets, the impending physical tightness to face iron ore markets strengthens our conviction that iron ore prices will rise above to over $90 a tonne in the short term.”

Daniel Hynes, Senior Commodities Strategist at ANZ Bank, is another who expects iron ore prices will remain supported in the period ahead.

“We see a sizable disruption lingering over the market for the near future,” he said, referring to supply disruptions in Brazil.

“Supply-side responses are likely, but will be far short of what is required to meet the needs of the market in 2019. As a result, iron ore exports will fail to meet expected demand by around 35–40 million tonnes in 2019.

“This should keep prices well supported in 2019.”

Along with uncertainty over the outlook for Brazilian supply, news of operational disruptions at facilities owned by Rio Tinto in Western Australia was another factor that helped to propel prices higher during the session.

On Friday, the miner issued force majeure notices to some iron ore customers due to damage from tropical cyclone Veronica, which hit Western Australia earlier this week, according to Reuters.

Rio said that it was “currently assessing the impact of the damage sustained at the Cape Lambert A port facility and is working with its customers to minimise any disruption in supplies”.

A force majeure is invoked when a miner cannot perform an obligation under a contract due to circumstances outside of its control.

Like spot markets, the news helped to spark a rally in Chinese iron ore futures on Friday.

In Dalian, the most actively traded May 2019 contract jumped to as high as 638.5 yuan before closing the session at 631.5 yuan. That was well above the 613.5 yuan level it finished on Thursday evening.

Stronger steel prices also helped to support iron ore futures at the margin with rebar and hot-rolled coil finishing trade at 3,758 and 3,741 yuan respectively, up from 3,695 and 3,673 yuan on Thursday evening.

As seen in the scoreboard below, those moves were largely sustained in overnight trade on Friday.

SHFE Hot Rolled Coil ¥3,732 , 0.67%
SHFE Rebar ¥3,754 , 0.72%
DCE Iron Ore ¥632.50 , 1.85%
DCE Coking Coal ¥1,229.00 , -0.08%
DCE Coke ¥1,980.00 , 0.23%

Trade in Chinese commodity futures will resume at midday AEDT on Monday.

In news that will likely bolster sentiment across the steel and bulk commodity complex further, activity levels across China’s manufacturing and non-manufacturing sectors improved in March, driven in part by booming construction activity.

The government’s manufacturing and non-manufacturing PMIs rose to 50.5 and 54.8 respectively in March, up from 49.2 and 54.3 in February.

A reading above 50 indicates that activity levels improved from a month earlier. The distance away from 50 reveals how fast the improvement occurred.

The separate Caixin-IHS Markit China manufacturing PMI report for March will be released today. In the past, markets have tended to pay more attention to this report than the official government release.

Cadence Minerals #KDNC – Auroch Minerals (ASX: AOU) Exploration License Granted at Torrens East Copper Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX:AOU) (“Auroch”) that the Exploration Licence 6331 (EL 6631) at its Torrens East Copper Project (“Torrens East”) has been granted. The Exploration Licence is the western of the two tenements comprising the Torrens East Project, and covers a likely extension to the gravity anomaly that is currently being drill-tested by the Torrens JV (70% Aeris Resources Ltd; 30% Argonaut Resources NL). The granting of the EL means the Company can now proceed with access agreements in order to initiate exploration work programmes on this highly prospective area.

Auroch continues to collate and interpret available historic geological and geophysical data with a focus on coincident areas of gravity and magnetic anomalies and is currently investigating various options for further exploration including airborne gravity surveys, reprocessing of aeromagnetic data and Magnetotellurics (MT).

The Company is also continuing its intensive exploration programme at the Arden Zinc Project. During the past few months the exploration team has completed detailed mapping and surface geochemistry sampling over large areas of the Arden tenement. The work has been focused on the key prospect areas previously identified, such as the possible extension of the high-grade zinc mineralisation encountered in drill-hole RRDD-0071 in the 2018 drill programme, which included 3.65m @15.47% zinc within 12.80m @4.96% zinc from 53.00m. With the zinc price recently increasing to over 3,000 USD/t2 the Company is working hard towards the next drilling campaign planned for the end of this quarter.

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/2ae11c6c-5fa.pdf

Cadence Minerals CEO Kiran Morzaria commented:“Aidan Platel and his team continue to build the Auroch investment case. In addition to the Torrens East EL grant, we also note the Company’s comments on progress at the Arden Zinc project. We look forward to further developments”

– 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. 

Forward-LookingStatements:

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 Plc – Auroch Minerals (ASX: AOU) Identifies Potential Targets at Torrens East Copper Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Auroch Minerals (ASX:AOU) ‘Auroch’ on its recently-acquired Torrens East Copper Project (Torrens East). Exploration Licence Applications ELA00159 and ELA00163 comprise 1,622km2, and are considered by Auroch to be highly prospective for IOCG (iron oxide – copper – gold) mineralisation.

An initial review of the South Australian Government’s Mineral Resources aeromagnetic and gravity data, together with available geological and drilling data over the Torrens East licence area has identified a likely eastern extension of the Torrens JV gravity anomaly, which continues into Auroch’s application licence.

Highlights:

  • Auroch has completed a review of historical geophysical, geological and drilling data for its Torrens East Copper Project (Torrens East), identifying potential target areas for follow-up exploration.
  • The review identified on Auroch’s exploration tenure a likely eastern extension of the large Torrens JV (70% Aeris Resources Ltd; 30% Argonaut Resources NL) gravity anomaly.
  • Torrens East has the right geological address with peer exploration encountering IOCG pathfinder minerals, copper sulphides and alteration halos. Recent exploration in the Eastern Gawler Craton includes:
    • Torrens JV commenced a $20m drilling programme 6-10km to the west of Torrens East.
    • BHP Group’s (BHP) Oak Dam West prospect returned best drilling intercepts: 425.7m @ 3.04% Cu and 0.59g/t Au, including 180m @ 6.07% Cu and 0.92g/t Au.
    • Cohiba Minerals announced plans for a drilling programme at its “Horse Well” project 2km from BHP’s Oak Dam West prospect.
  • Auroch will continue to advance the Torrens East Project and will provide updates in the coming months

The Torrens East project is located along the eastern margin of the Gawler Craton in South Australia, in a similar regional setting to the Olympic Dam and Carrapateena deposits around the Torrens Hinge Zone, a continent-scale zone of crustal weakness with the potential to act as a conduit to release mineralising fluids from the Earth’s mantle. The Torrens East Copper Project is 1,622km2 of ground considered highly prospective for Iron Oxide Copper–Gold (IOCG) mineralisation. The large exploration licence applications (ELAs) are situated adjacent to the Torrens JV (70% Aeris Resources Ltd; 30% Argonaut Resources NL) 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.

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/8adebe01-e6f.pdf

Cadence Minerals CEO Kiran Morzaria commented: “Aidan Platel and his team continue to build the Auroch investment case. As stated in the announcement, recent peer exploration in the region has provided a blueprint for Auroch’s exploration plans, which all contribute towards refining possible future drill targets at Torrens East. We look forward to further developments”

– 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.

 

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) Reports High Grade Copper Results From Arden Base-Metals Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Auroch Minerals (ASX:AOU) ‘Auroch’ regarding reconnaissance sampling at its Arden Base-Metal Project ‘Arden Project’ located in South Australia’s under-explored Adelaide Geosyncline. Auroch reports that thirteen of the thirty-six rock-chip samples taken from gossanous material near the historic artisanal Mount Arden Copper Mine returned results over 2% copper, including several high-grade results of 20.40%, 15.25%, 8.55% and 5.52% copper.

Highlights:

    • Reconnaissance rock-chip samples collected near the historic artisanal Mt Arden Copper Mine returned several spectacular high-grade results, including:
      • 20.40%, 15.25%, 8.55% and 5.52% copper (Cu).
    • The sample results define an area of anomalous to high-grade copper at least 1km-long.
    • Results confirm the presence of high-grade base-metals mineralisation at the Mt Arden Prospect, a priority exploration area close to the recently-drilled Ragless Range Prospect which returned high-grade results from drill-hole RRDD007:
      • 12.80m @ 4.96% zinc (Zn) from 53.00m, including 3.65m @ 15.47% Zn from 62.15m.
    • The encouraging results will be followed up with geological mapping and more systematic sampling in the coming months, working towards the next phase of drilling proposed for Q2.
    • The Company continues to collate and interpret all existing data for its Torrens East Copper Project.

Located some 335km north of Adelaide, the Arden Project boasts a large relatively unexplored exploration area of 1,664km2 and is highly prospective for sedimentary-exhalative (SEDEX) mineralisation. Within the Arden Project, up to three horizons of SEDEX zinc mineralisation were identified from the recent drilling programme at the Ragless Range Prospect extending over 3km of strike and open in every direction.

The sampling programme is focussed on gossanous areas in close proximity to interpreted major geological structures which coincided with the same stratigraphic horizons observed to host the zinc mineralisation at the nearby Ragless Range Prospect. This strategy followed up on the results from drill-hole RRDD007 completed by Auroch last year, which was drilled under an ironstone gossan coincident with where an interpreted fault structure intersected the stratigraphy hosting the SEDEX zinc mineralisation, resulting in significant high-grade zinc intercepts.

The sample results announced by Auroch today define an area of anomalous to high-grade copper at least 1km-long by 300m wide. Numerous ironstones and gossans outcrop within the mineralised area. The orientation of the ironstones is conformable to bedding and suggests they are stratabound. The host rocks consist of ferruginised carbonates similar to those observed at the Ragless Range Prospect.

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/e7212489-71b.pdf

Cadence Minerals CEO Kiran Morzaria commented: “Following the high-grade zinc results announced at the recently-drilled Ragless Range Prospect, the Auroch investment case continues to build with a set of high-grade copper results announced from the Arden Project. As Auroch CEO Aidan Platel says, to get such high-grade copper results from first-pass surface-sampling over a 1km-long area is ‘extremely encouraging’. We look forward to further developments.”

– 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.

 

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) Infill Sampling Extends Mineralisation at Ragless Range, Arden Zinc Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Auroch Minerals (ASX:AOU) ‘Auroch’ that infill sampling of the remaining intervals of core from the Ragless Range drill-holes has identified more zinc mineralisation and increased the width of some of the previously reported significant intercepts, particularly for drill-hole RRDD007 which intersected high-grade zinc mineralisation including 3.65m @ 15.47% Zn from 62.15m.

Highlights:

  • Infill sampling of the Arden drilling improves best intersections from drill-hole RRDD-007:
    • 12.80m @ 4.96% Zn from 53.00m
      • including 3.65m @ 15.47% Zn from 62.15m
    • 32.70m @ 0.92% Zn from 70.46m
    • including 2.50m @ 2.40% Zn from 70.46m
    • and 8.50m @ 1.30% Zn from 81.80m
  • Confirmation of high-grade zinc silicate mineralisation (up to 34% Zn) in oxidised portion of drill-hole RRDD-007
  • The maiden drill programme at Arden intersected up to 3 horizons of SEDEX zinc mineralisation extending over 3km of strike and open along strike and at depth

As previously reported, all eight drill-holes at the Ragless Range Prospect successfully intersected at least one SEDEX zinc horizon, over a strike length of more than 3km. Initial assay results from drilling ended in mineralisation in several holes (most notably RRDD007) and warranted further infill sampling. An additional 407 samples from five holes were submitted to ALS Laboratories in Adelaide for multi-element determination, with 24 samples returning >0.5% Zn (83 samples anomalous at >0.1% Zn).

The zinc mineralisation intersected in RRDD007 differed to that in the other drill-holes in several ways. Firstly, the mineralisation extended over significant down-hole widths, including several very high-grade intervals. Secondly, there appeared to be a structural-control on the high-grade zinc mineralisation, different to the stratabound SEDEX zinc mineralisation observed in the other drill-holes. Also, high-grade zinc silicate minerals were observed in some intervals, similar to those observed in the Flinders Project deposits (Perilya Limited) including the Beltana Zinc Mine (972kt @ 29.8%Zn) located approximately 150km to the north of the Arden Project.

In addition to the infill sampling programme, the geological team have begun project scale mapping at the Arden Project, beginning with key areas of focus such as the fold hinges and interpreted faults near the high-grade result in RRDD007. Significant ironstone gossans, similar to that which lies to the southeast of drill-hole RRDD007, have been mapped and rock-chip samples have been taken to be submitted to the laboratory this week.

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/408f546e-9fa.pdf

Cadence Minerals CEO Kiran Morzaria commented: “Following the news of base metals mineralization at Bonaventura & Lake Torrens IOCG tenement developments, the Auroch investment case continues to build with additional high-grade zinc mineralization and enlarged intercepts confirmed by drilling at the Arden Ragless Range Prospect. We note Aidan Platel’s comments that these developments are critical for Auroch’s 2019 exploration programme, and look forward to further developments.”

– 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 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) 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.

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