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

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

Highlights:

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

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

Cadence holds approximately 10% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

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

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

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

– Ends – 

For further information:

Cadence Minerals plc

                                                   +44 (0) 207 440 0647

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

                                +44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

                                +44 (0) 207 399 9400

Jon Belliss

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Announces US$6m Financing to Complete Moonshine Magnetite and Ularring Hematite Iron Ore Bankable Feasibility Study.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) has announced the issuance of a private placement offering (the “Offering”) of up to US$6 million of secured Convertible Note (“Note”).

The proceeds from the offering will be used to complete a Bankable Feasibility Study (“BFS”) on Macarthur’s Moonshine Magnetite and Ularring Hematite iron ore deposits in Western Australia. The BFS will include a 54-hole drill program.

Macarthur owns 100% of the Moonshine Magnetite Project, with an Inferred and Indicated Mineral Resource Estimate consisting of 1,316 million tonnes (Mt) @ 30.1% Iron (Fe). Initial metallurgical test work from core at Moonshine indicated that a very high-grade iron ore product ranging from 68.5%-69.1% Fe, can be achieved as an export quality target.

The Inferred Mineral Resource estimate for the Moonshine Magnetite Project was initially prepared by CSA Global Pty Ltd (NI43-101 Technical Report filed December 17, 2009, titled “NI43-101 Technical Report on Lake Giles Iron Ore Project: Western Australia”) and was updated by Snowden Mining Industry Consultants (NI43-101 Technical Report filed March 25, 2011, titled “Macarthur Minerals Limited: Moonshine and Moonshine North Prospects, Lake Giles Iron Project, Western Australia, NI43-101 Technical Report – Preliminary Assessment”).

Macarthur also owns the Ularring Hematite Project, with a Mineral Resource Estimate consisting of Indicated 54.46 Mt @ 47.2% Fe and Inferred 25.99Mt @ 45.4% Fe, previously announced on August 16, 2012 (NI 43-101 Technical Report filed October 1, 2012, titled “NI 43-101 Report, Macarthur Minerals Limited, Pre-Feasibility Study, Ularring Hematite Project, Western Australia”). The Pre-feasibility Study focused on utilising all Probable Mineral Reserve of 42.95Mt @ 47% Fe hematite, producing a 60.1% Fe sinter fines product.

Cadence holds approximately 10% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6810804576807869&qm_symbol=MMS

Cadence Minerals CEO Kiran Morzaria commented: “As a major shareholder in the Company, Cadence Minerals are delighted that Macarthur Minerals has seized the initiative to progress the Moonshine Magnetite and Ularring Hematite Iron Ore projects with a US$6m offering. Existing data indicates solid potential for a quality iron ore product at both projects.” 

“To quote Macarthur CEO Cameron McCall: ‘what makes this project unique is the close proximity to existing under-utilized rail and port infrastructure. The recent disruption in supply in the iron ore market creates a market that is seeking high grade low impurity products, and the Moonshine Magnetite product is ideally suited to fill this supply void and to meet this shift in product preference by the major Chinese and global markets.’ In summary, we at Cadence believe that securing funding at this juncture further strengthens the Macarthur investment proposition.”

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

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
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 -Macarthur Minerals (TSX-V: MMS) Update on High Grade Moonshine Magnetite and Ularring Hematite Projects and Infrastructure

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) has provided an update on the Moonshine Magnetite and Ularring Hematite Projects (“Projects”) based upon revised production strategy and cost estimates, resulting in reduced Opex and Capex estimates.

Highlights:

  • Capacity at Port of Esperance now available
  • Capacity on rail network available
  • Hematite DSO Opex estimate reduced to A$42/tonne (“t”) shipped free on board (“FOB”)
  • Magnetite Opex estimate reduced to $55/tonne FOB
  • Capex estimate for a combined project reduced to US$335 million
  • High margin for premium magnetite product >65% Fe

Macarthur has re-evaluated both the hematite and magnetite projects in response to current market trends of heavy discounting of low-grade iron ore and premium pricing for high grade iron ore. Additionally, Macarthur has been preparing to take advantage of the cessation of operations by Cleveland Cliffs Inc., which has paved the way for access to both rail and port infrastructure. This has been the greatest impediment to advancing the Projects into a production phase.

Mr Andrew Hawker, a member of the Australian Institute of Geoscientists, is a full-time employee of Hawker Geological Services Pty Ltd and is a Qualified Person as defined in National Instrument 43-101.  Mr Hawker has reviewed and approved the technical information contained in the Macarthur news release.

Cadence holds approximately 10% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium, iron ore and gold in the Pilbara region of Western Australia. It also has a lithium project in Nevada, USA.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6946082994529972&qm_symbol=MMS

 

Cadence Minerals CEO Kiran Morzaria commented:“Cameron McCall and his team have provided a timely re-evaluation of Moonshine and Ularring projects. As well as a reduction in Opex and Capex estimates, the Macarthur investment case has also been strengthened by the access to rail and port infrastructure following cessation of operations by Cleveland Cliffs. We look forward to the next phase of developments. 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

– Ends –

For further information:

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 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 – Macarthur Minerals (TSX-V: MMS) defines Gold exploration target at its Bonnie Scot project, Pilbara, W Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (“Macarthur”, TSX-V: MMS) has completed the second phase of a stream sediment sampling program at its Bonnie Scot Project in the Pilbara region of Western Australia (“Bonnie Scot”). The results showed a geochemical cluster of anomalous gold up to 45.9 parts per billion (“ppb”) and consistent with the previous survey.

Highlights:

  • Macarthur’s Phase 1 sampling program, previously reported on June 13, 2018 concentrated on the contact of the Mount Roe Basalt as a target for conglomerate hosted gold. Results of that survey identified a gold anomaly distal to the contact zone and concentrated on the North Shaw Tonalite.
  • Macarthur’s Phase 2 survey collected a further 53 stream sediment samples across the north western area of the tenement and included follow-up sampling near the previously identified gold anomaly.
  • Samples were submitted for multi-element analysis with results revealing anomalous gold in close proximity to the previously identified gold anomaly. The original anomaly was known from a cluster of eight samples recorded over a radius of approximately 40m. The current program extends the anomalous zone by approximately 300m to the south and west with gold assays up to 113 ppb.
  • This area in the north west of the tenement was previously considered prospective for gold from a historical rock chip sampling program with values recorded up to 3.5 g/t Au. The stream sediment results from both programs support this view and warrant further exploration. The Macarthur team is currently preparing a program to map the geology across the identified anomaly.

Cadence holds approximately 12% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium, iron ore and gold in the Pilbara region of Western Australia. It also has the lithium project in Nevada, USA.

The full release can be found at:

https://web.tmxmoney.com/article.php?newsid=6741695789765782&qm_symbol=MMS 

Cadence Minerals CEO Kiran Morzaria commented: “The progress reported by Cameron McCall and the Macarthur Minerals team at the Bonnie Scot Project is most encouraging. We await further news on the potential for gold mineralization across the target.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

– 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

Ingo Hofmaier

 

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.

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