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Cadence Minerals Plc (KDNC) Acquisition of Lithium Assets in Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY; “Cadence”) is pleased to announce that it has agreed to acquire three highly prospective assets in Australia that are in regions with proven high-grade lithium mineralisation. The mechanism to facilitate this acquisition is via varying binding investment agreements in place with Lithium Technologies Pty Ltd (“LT”) and Lithium Supplies Pty Ltd (“LS”) that Cadence entered on 11 December 2017 to acquire up to 100% of six prospective hard rock lithium assets in Argentina.

HIGHLIGHTS

  • Varying the agreements with LT & LS delivers Cadence with the opportunity to immediately start developing three highly prospective lithium projects in Australia, while still retaining Cadence’s exposure to the six assets in Argentina.
  • The acquisition covers three projects – Picasso (Western Australia – WA), Litchfield (Northern Territories – NT) and Alcoota (NT) – that are located  in regions with proven lithium mineralisation and supportive mining infrastructure
  • The Picasso project (license granted) is near Alliance Mineral Assets’ (ASX: A40; SGX: 40F; “AMA”) high-profile Bald Hill Mine in WA (note: AMA recently completed a 50:50 A$400m+ merger with delisted Tawawa Resources [ASX: TAW] & raised $40M to develop the  asset base)
  • Demonstrating exploration upside for Picasso, the Bald Hill Mine is producing a spodumene concentrate and has a JORC (2012) compliant mineral resource of 26.5Mt @ 0.96% Li2O; probable ore reserves at 11.3Mt @ 1.01% Li2O
  • The Litchfield project (license granted), located near Darwin (NT), is contiguous to Core Lithium’s (ASX: CXO) ground and has a JORC compliant mineral resource of 8.55Mt @ 1.33% Li2O for its Finnis project (for all six deposits)
  • Finally, the Alcoota project (license to be-granted) is circa 145km NE of Alice Springs (NT) and has seen comparatively limited exploration, though significant geochemistry samples from 10km south of the project returned assays of 10.2% & 9.6% Li2O , with evidence suggesting there is a pegmatite zone within tenure prospective for lithium mineralisation

Kiran Morzaria, Chief Executive Officer, added:

“The Board is delighted with this variation agreement since it will enable the exploration team in Australia to commence work immediately on developing prime lithium assets, starting with the Picasso project in Western Australia. Alliance Mineral Assets’ recently raised AU$ 40 million to develop its lithium assets in the region, including its high-profile Bald Hill Mine, which located as it is nearby to Picasso, underlines the opportunity and potential upside for Cadence 

More importantly, this transaction is strategically beneficial as the Australian projects were acquired without any material variation to the monetary value of the acquisition agreed over the six Argentina assets. At a stroke, this delivers Cadence three additional opportunities to create incremental value for shareholders while continuing to progress the highly prospective Argentina assets.”

OVERVIEW OF NEW AUSTRALIAN LITHIUM ASSETS

A more detailed summary of the key salient points for each of the lithium assets follows:

Picasso project, WA

The Picasso project is located 50km from the city of Norseman, which connects via rail to the southern Port of Esperance. Moreover, it is circa 40km south of the newly formed Alliance Mineral Assets’ (AMA) high-profile Bald Hill Mine. This region is well known for high-grade lithium mineralisation, with the formation of AMA (via a AU$400 million merger with now delisted Tawana Resources and AU$40 million in fresh exploration funding) providing demonstratable evidence.

Picasso’s proximity to the Bald Hill Mine (which commenced producing lithium spodumene concentrate in March 2018) is a significant positive feature since it is a high-grade economically viable deposit:

Ø The JORC (2012) compliant total mineral resource is 26.5Mt @ 0.96% Li2O (255.2k contained tonnes) & 149ppm Ta2O5 (8,600lbs contained); and;

Ø Probable ore reserves of 11.3Mt @ 1.01% Li2O (114.1kt contained) & 160ppm Ta2O5 (4,000lbs contained)

Further, demonstrating the region’s potential, Liontown Resources’ (ASX: LTR) latest drilling program (15km south of Picasso) has intersected excellent lithium mineralisation at its two projects: Buldania (41m @ 1.0% Li2O and 35m @ 1.2% Li2O) and Killaloe (58m @ 1.2% Li2O).

The Picasso project’s geology is very similar to occurrences in AMA’s and Liontown Resources’ ground, both of which both have proven lithium mineralisation. Specifically, the Geological Survey of Western Australia (GSWA) has mapped granitic pegmatites (which typically host lithium-bearing minerals such as spodumene) within the tenure.

Encouragingly, based on analysing GSWA maps, there are more outcropping granite units and mapped pegmatites in the Picasso project than AMA’s ground. Furthermore, significant weathering has potentially restricted identifying many more pegmatites at the surface, which demonstrates further exploration upside.

Litchfield project, NT

The Litchfield project is close to Darwin Port and supportive mining infrastructure but in a region considered mineral rich, yet materially under-explored. Litchfield is located in the Bynoe pegmatite field, which is known to host lithium mineralisation.

A huge positive for the Litchfield project is its proximity to its, Core Lithium, which has five demonstratable spodumene lithium deposits within 1-2km of the north-west boundary. These deposits, collectively called the Finniss project, have a JORC (2012) compliant total mineral resource of 7.25Mt @ 1.41% Li2O (excludes Sandras deposit further south).

Of these, the BP33 deposit, which is over 140m deep and 20-40m wide, has produced some spectacular intersections across several drill-holes:

  • 75m @ 1.68 % Li2O including 55m @ 1.97% Li2O
  • 36m @ 1.61% Li2O including 14m @ 2.05% Li2O
  • 49m @ 1.02% Li2O

Interestingly, a closer examination of satellite imagery along the western boundary confirms the geology is comparable, highlighting the prospect of contiguous mineralisation. Notably, this shows within the Litchfield project that there is high potential for lithium pegmatite bodies to be apparent.

While negligible exploration for lithium has been undertaken in the Litchfield project (explaining a dearth of drilling & geochemical results), the exploration upside is significant given Core Lithium has produced some of the best intercepts in Australia.

Alcoota project, NT

The Alcoota project is circa 145km NE of Alice Springs but has seen limited lithium exploration. However, recent rock chip samples indicate there is strong potential to uncover high-grade spodumene mineralisation. Notably, Northern Cobalt (ASX: N27), which has several projects in the region targeting lithium mineralisation, identified a new zone of pegmatites 12km long by up to 2km wide that extends into the Alcoota project from the SE boundary. Furthermore, directly 10km south in the adjacent tenure, assay results for rock chip samples returned respective grades up to 10.2% & 9.6% Li2O.

Overall, with granites and related pegmatite-intruded schist units extending into the Alcoota project (from the south), it explains why analogous lithium mineralisation is highly likely apparent.

Priority exploration targets

The geology team have already identified priority and secondary targets for exploration within each of the projects. Further, as the Picasso and Litchfield projects are already granted, the immediate focus will be to expedite updating desktop reviews and commence field trips for surface sampling and assay, followed by a ranking of priority drilling targets.

Details of the Transactions

Cadence has agreed a variation to the agreements with LT and LS. As previously announced (click here), Cadence can acquire 100% of Lithium Technologies Pty Ltd and Lithium Supplies Pty.

The variation will result in LT & LS acquiring between them 100% of Synergy Prospecting Ltd (“Synergy”), which owns the three lithium projects in Australia. As two of Synergy’s assets are granted, Cadence has agreed to move forward with increasing is ownership in LT & LS form 4% to 31.5% via:

  • Issuing 373,544,298 million Cadence shares to the founding shareholders of LT & LS valued at £400,000 (based on 14-day VWAP of £0.0107) to acquire a further 20% stake, which is in line with the terms of the original agreements; and
  •  £300,000 to earn an incremental 7.5% stake, with the funds earmarked to commence developing Synergy’s lithium assets in Australia.

The result of the variation would mean no change to the £ consideration to be paid for of LS and LT, however additional shares would be issued as a result of the change in the share price in Cadence between November 2017 and March 2019.

The principle terms for the acquisition for up to 100% of LT and LS is now as follows.

Stage

Ownership %

Total Ownership %

Total Consideration or the Acquisition of Lithium Technologies Pty Ltd & Lithium Supplies Pty Ltd

Purpose

Status

Cash Earn In £

Share Consideration Value £

Shares

Stage 1

4%

4%

100,000

Earn-in early non-invasive exploration (pre -exploration permits being granted)

Completed

Stage 2

20%

24%

400,000

373,544,298

On grant of exploration permits – acquisition of Lithium Technologies and Lithium Supplies shares

To be completed on Cadence payment of shares

Stage 3

7.50%

31.5%

300,000

Earn – in on commencement of exploration works after grant exploration permits

To be completed on Cadence earn-in expenditure

Stage 4

17.50%

49%

700,000

Earn – In on identification of suitable drill targets

Stage 5

51%

100%

1,750,000

1,634,256,305

1-year option to acquire all the outstanding share capital of Lithium Technologies and Lithium Supplies

Total

1,100,000

2,150,000

2,007,800,603

The exploration team in Argentina continues to progress developing the assets and working with the regulator towards securing approval to scale up the exploration program, then formulate the inaugural drilling campaign.

 

– 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.

Lithium Market Cheers as Top Supplier Sees Demand Driving Higher

  • Albemarle calms concerns about oversupply, weak Chinese demand

  •  Albemarle reported better-than-expected quarterly results
The world’s largest producer of lithium calmed investor fears of oversupply and slower Chinese demand for the mineral used to power electric vehicles, sending shares surging across the industry.Albemarle Corp.’s fourth-quarter earnings topped analysts’ estimates, and it expects global lithium demand to grow 21 percent annually, with the market remaining tight for years as manufacturing of electric cars and large-scale batteries soars. The company’s stock rose the most in almost three years on Thursday.

 The outlook comes little over a week after shares across the industry sold off as producer Livent Corp. reporteddisappointing results and said customers in China were delaying purchases. Albemarle said it sees no evidence of a slowdown, with sales of new-energy vehicles doubling in China last year and indications that demand for electric cars will continue to benefit from government incentive programs in the Asian nation.

Albemarle’s 2019 outlook helps calm investor fears of lower lithium prices from an oversupplied market, James Sheehan, an analyst at Suntrust Robinson Humphrey, said in a note. A 4 percent gain in prices in the fourth quarter, “supports our thesis that Albemarle can maintain stable pricing.”

Albemarle’s stock rose as much as 11 percent, the biggest intraday gain since May 2016. It was the best performer on the S&P 500 Index on Thursday. Santiago-based Soc. Quimica y Minera de Chile SA, the world’s second-largest producer, rose 2.4 percent for a second consecutive gain. Shares of Tianqi Lithium Corp., the third-largest, posted their highest closing price this year.

Concentrated Market – Three companies control over half of lithium supply

Charlotte, North Carolina-based Albemarle, which produces about a third of the world’s lithium, expects prices to remain flat or to increase this year. Prices for lithium carbonate, the most common form of the mineral, have fallen from historic highs, but still remain more than double the level of four years ago, according to monthly data by Benchmark Mineral Intelligence.

Global sales of electric vehicles soared 98 percent during the fourth quarter, Albemarle Chief Financial Officer Scott Tozier said Thursday on a conference call with analysts. The number of available plug-in hybrids and battery-electric models announced by automakers for 2021 has grown by almost 40 percent since mid-2017. As a result, demand for lithium carbonate equivalent will be about 475,000 tons by 2021 and 1 million tons by 2025, he said.

Large producers such as Albemarle, SQM and Tianqi will continue to dominate a space that might look oversupplied this year as new capacity comes in, Albemarle Chief Executive Officer Luke Kissam told analysts during the call. With new technologies demanding more lithium, the market will remain tight in coming years, he said.

“The momentum around electric vehicles has continued to accelerate,” Tozier said. “The demand curve has shifted higher and steepened,” he said, referring to lithium.

Cadence Minerals (KDNC): Macarthur Minerals (TSX-V: MMS) Lists on OTCQB and Comments on Iron Ore Price Surge.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) today announced that it has joined the OTC marketplace, OTCQB. The OTCQB Venture Market offers the benefits of being publicly traded in the United States to expand Macarthur’s access to investors, engage them with quality disclosure of financials and provide trading transparency to stimulate liquidity. Investors can find current financial disclosure and Real-Time level 2 quote for Macarthur on www.otcmarkets.com. Macarthur trades in the United States on OTCQB under the symbol “MMSDF”.


Cameron McCall, Chairman of Macarthur Minerals. Mr. McCall said:

 “Global Markets have recently seen iron ore prices surge dramatically on the reduced supply as a result of the shutdowns and disasters that have occurred in Brazil, a leading producer of Iron Ore. states aWith continued demand and a significant supply reduction Macarthur is well positioned to advance the Ularring Hematite and Moonshine Magnetite Projects located 175km northwest of Kalgoorlie, Western Australia into production in a timely manner.”

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7965805934807637&qm_symbol=MMS

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.

Cadence Minerals CEO Kiran Morzaria commented: “On behalf of Cadence Minerals, we fully support the move by Macarthur to list on the OTCQB and thereby expand its investor reach. In addition, the reduction in iron ore supply and consequential surge in price 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.

 

Telegraph – Lithium rush: electric car boom drives race for rare metals

Bolivia’s salt plains are home to some of the richest reserves of lithium. CREDIT: IGNACIO PALACIOS /GETTY IMAGES CONTRIBUTOR

Article by the Telegraph

More than 11,000 feet up in the Andes mountains of southwest Bolivia lies Salar de Uyuni, a remote salt flat that is home to some of the world’s largest reserves of lithium.

Largely untapped, the seemingly endless expanse of bright white salt plains are on the verge of a frenzy of activity as a global scramble erupts to extract the metal and secure supplies for lithium-ion batteries – a basic building material for the electric vehicle industry.

Last month, Germany struck a deal with Bolivia under which YLB, a state-owned chemicals firm, will work alongside German industrial company ACI Systems to produce 40,000 tons of lithium per year in Salar de Uyuni once operations begin in 2022.

With the International Energy Agency predicting the number of electric vehicles on the road globally to hit 125m by 2030, the rush for lithium and other battery metals like cobalt is attracting players old and new. Established player Albemarle is bringing new lithium mines online in Western Australia, while Erik Prince, the founder of US private military contractor Blackwater, has plans to launch a $500m (£392m) fund focused on battery metals.

But valuing resources like lithium, which suddenly grab the attention of global investors, is never easy. Prices have proved extraordinarily volatile, plunging 29pc last year from $158 to $111 per kilogram and prompting many to ask: has the lithium bubble already burst?

Brian Menell, chief executive of mining specialist TechMet, says it remains a sound long-term bet.

“Last year there was a degree of over exuberance in some of these markets including lithium and cobalt that resulted in a bit of speculative hype, and the price ran further than the short term fundamentals justified,” he says.

Either way, Menell, who has worked in the mining industry for 25 years, thinks the price correction has been overdone. Since founding TechMet in 2017, he has made battery and technology metals such as lithium, cobalt and nickel his sole focus. They will be “the key ingredients of the tech revolution”, he says.

Lithium brine manufacturing in Chile

He claims the industry is at a nascent stage but demand for a consistent flow of battery metals in future is inevitable. Demand is set to climb as the car industry and governments globally take action to curb emissions to tackle climate change and poor air quality.

Adding an extra geopolitical twist has been China, which has worked doggedly over the past 15 years to secure control over the best resources and the processing of battery metals “while everybody else was sleeping”, according to Menell.

The need for Western nations to secure a central role has grown more urgent, he says.

“The drive to counter or balance China’s control is one that is in the minds of government agencies in the US and Japan and to an extent in Europe.”

 Dr Benjamin Jones, managing consultant at CRU Group says: “Lithium demand is set to double between 2017 and 2023, driven predominantly by growth in EV production and sales. Demand for battery-grade lithium is forecast to triple over this period.”

By comparison, demand for a metal like copper is expected to increase 2-3pc per year.

Despite the difficulty extracting lithium from locations such as the Bolivian salt plateau, where heavy rainfall can cause flooding, Menell’s predicts strong demand.

“There will be a massive dislocation over the next five, 10 and 15 years between the demand for these metals and the supply  which will result in [them] outperforming other commodities by many multiples over that time horizon,” he says.

Electric vehicle manufacturers like Tesla rely on lithium as a key resource.

Lithium comes from two chief sources: either the mining of a hard rock called spodumene found in places such as Western Australia, or as brine that forms beneath the high altitude salt flats of Chile, Argentina and Bolivia – a trio of countries collectively known as the lithium triangle.

Though downward pressure on price is likely to endure for a few years as the market enters a phase of “oversupply”, the metal remains in a favourable position, Jones added.

TechMet is looking at hard-rock lithium projects in Africa, rather than brine-based ones such as those in South America.

With a current glut of supply, lithium-based batteries look to be the mainstay for the future of the electric vehicle industry. However, not everyone is convinced.

Earlier this week, a lawsuit was filed against Elon Musk’s car company Tesla after the death of an 18-year-old passenger in Florida last year was alleged to have been the result of a defective battery, calling into question the safety of lithium-ion technology, which is highly flammable.

New technologies are being experimented with too. Flow batteries, which use a metal called vanadium, have emerged as a contender with significant backing from China. Solid state batteries, another alternative, carry reduced risk and have been of particular interest to Sir James Dyson, who is building his own electric vehicle fleet.

However, Menell predicts flow batteries being directed more towards grid storage, and attempts to bring new technology to the transportation industry could prove to be very expensive.

“In my view, in the next 10-15 years lithium ion batteries will in roughly their present configuration and chemistry dominate for electric vehicles,” he says.

“At the moment, it’s probably $30, $40bn going into lithium-ion battery manufacturing capacity in China and elsewhere in the world and every car company in the world has a program for their fleet to be dominated by li-ion battery driven vehicles.”

And with China keen to clean up its air pollution, output and focus on battery metals and technologies will be greater than ever from the Far East.

“Although policy targets have been reined in, Chinese regulators still require rapid improvements in the energy density of EV batteries. This will significantly impact the competitive landscape for different battery technologies in the years ahead,” says Jones.

Lithium and other battery metals may struggle on price in the short-term, but over the mid to long-term, one thing is clear: the world will eventually need a lot of lithium.

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.

World’s insatiable appetite for batteries sparks multi billion pound lithium mining boom in Australia! Via abcnews

Growing demand for batteries for electric cars and power storage is driving increased investment in lithium mining in Western Australia. WA is currently supplying more than 40 per cent of the world’s lithium and a new mine in the Pilbara is the latest in a string of investments in the industry. The West Australian Government is now encouraging industry to build a battery factory in the state to capitalise on the boom.

Volkswagen to spend $50 billion on electric car ‘offensive’ – via Mining.com – Cadence Minerals (KDNC)

German automaker Volkswagen said Friday it will spend tens of billions of dollars refocusing the company on the making of electric cars, autonomous vehicles and new mobility services.

The Wolfsburg-based manufacturer, which plans to have some of the new offering in the market by 2023, said the 44-billion euro ($50 billion) investment in what CEO Herbert Diess describes as an “electric offensive,” includes an imminent partnership with US carmaker Ford Motor.

Both companies are fine-tuning details on a deal to jointly make a range of light commercial vehicles, and Dess hopes the agreement will be ready before the end of the year.

Collaboration between the two firms is viewed as a path to significant savings on research and development, while at the same time delivering big revenue.

Ford makes about 40% of all full-size pickups sold in the US, while VW sells almost 15% of the vehicles purchased in China, the world’s largest auto market.

“Volkswagen must become more efficient, more productive and more profitable in order to finance the high expenditure in the future and in order to stay competitive,” Diess said during the press conference.

He noted that Volkswagen was also “seriously considering involvement in battery production.”

One million e-cars

VW has been actively promoting the electric push by creating global production capacities for the construction of 1 million electric cars. On Wednesday, it announced it was converting three of its plants in Germany to build electric cars, ramping up production of zero-local emission cars ahead of tougher European emissions standards.

The company said it would begin local production of electric-powered vehicles at its facilities in Emden and Hannover in 2022, adding that a plant in Zwickau has already been designated for e-car production.

Recent studies show carmakers will need to add electric cars to their sales lineups to meet the new European Union rules on greenhouse gas emissions from 2021. They also highlight how German carmakers need to rethink their business as the growing adoption of electric vehicles (EVs) is expected to cost the country’s key auto industry about 75,000 jobs by 2030, according to a report carried out by the Fraunhofer Institute of Industrial Engineering.

Those figures, the institute said,  were calculated on the assumption that by 2030, a quarter of all vehicles on Germany’s roads will be fully electric. Another 15% is expected to be hybrids, which combine an electric motor with a traditional internal combustion engine, and 60% of the cars will be powered by gasoline or diesel engines that are more fuel-efficient than today.

A more rapid adoption of electric vehicles could threaten up to 100,000 jobs, the study warned, adding that regardless of the final number, there will be suppliers that simply won’t be able to adapt their business model, especially among small- and medium-sized companies.

While relatively slow to catch onto the ongoing EV boom, German carmakers have stepped up their efforts in the wake of VW’s 2015 “diesel gate” emissions cheating scandal, which tainted the reputation of diesel cars and spurred a push towards more environmentally friendly engines.

BMW recently said raw materials needed for car batteries will grow 10-fold by 2025, adding it has been surprised by “just how quickly demand will accelerate”. BMW plans to offer 25 electrified vehicles by 2025 and, like many of its peers, it prefers nickel-manganese-cobalt batteries or NMC. EV pioneer Tesla’s favoured battery technology –nickel-cobalt-aluminum or NCA – already uses less than 3% cobalt.

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.

Cadence Minerals #KDNC – Macarthur Minerals TSX-V: #MMS appoints Capstan Capital Partners as Exclusive Advisers to Advance Its Significant Iron Ore Projects in Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (“Macarthur”, TSX-V: MMS) has entered into an exclusive advisory agreement with UK based Capstan Capital Partners LLP (“Capstan”) to seek the necessary funding required to advance Macarthur’s significant iron ore projects located in Western Australia.

Highlights:

  • Macarthur owns 100% of the Macarthur Iron Ore Projects, which are located on approved mining tenements covering approximately 62 km2 and are located 175 km northwest of Kalgoorlie in W Australia. The Macarthur Iron Ore Projects consist of two distinct mineral projects:
  • The Ularring Hematite Project: encompassing hematite iron ore (“hematite”), to be marketed as potential direct shipping and/or beneficiated iron ore; and
  • The Moonshine Magnetite Project: encompassing magnetite iron ore (“magnetite”), to be marketed as a beneficiated magnetite concentrate.
  • The Ularring Hematite Project has been fully approved for mining and the Company has been maintaining the core iron ore projects’ assets in good standing with the Western Australian Government, since their discovery. The Moonshine Magnetite Project presents a very large untapped resource of mostly high-grade magnetite with an expected productive life of at least 50 years.
  • The Company has been reviewing its iron ore projects in light of the emergence of rail and port capacity through to the Port of Esperance and the cessation of mining at Cleveland-Cliffs Inc’s Asia Pacific Iron Ore projects and Mineral Resources Limited’s Carina project.

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 a lithium project in Nevada, USA.

The full release can be found at:

https://web.tmxmoney.com/article.php?newsid=6183182474537427&qm_symbol=MMS

Cadence Minerals CEO Kiran Morzaria commented:“This agreement with Capstan is testament once again to the quality and diversity of the Macarthur asset portfolio. Cadence are also of the view that we are entering in to a new prolonged upward trend cycle for iron ore, and this new agreement, along with the raft of recent developments announced across Macarthur’s other projects provides, what the Company believes, is a positive ongoing investment proposition.”

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 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-looking statements.

Cadence Minerals Plc #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:

Director

Position

Number of ordinary shares acquired

 Price paid per share (pence)

Andrew Suckling

Executive Chairman

500,000

0.20

Kiran Morzaria

Director & CEO

564,153

0.18

Donald Strang

Finance Director

600,000

0.17

Adrian Fairbourn

Non-Executive Director

588,235

0.17

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

Director

Position

Total Notifiable Interests (shares)

Andrew Suckling

Executive Chairman

 4,090,000

Kiran Morzaria

Director & CEO

 12,599,350

Donald Strang

Finance Director

 10,247,011

Adrian Fairbourn

Non-Executive Director

 10,725,760

 Total

 37,662,121

 

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)

0.0018

564,153

d)

Aggregated information

–      Aggregated volume

–      Price

564,153

0.0018

e)

Date of the transaction

07/09/2018

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

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)

0.0020

500,000

d)

Aggregated information

–      Aggregated volume

–      Price

 

500,000

0.0020

e)

Date of the transaction

07/09/2018

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)

0.0017

600,000

d)

Aggregated information

–      Aggregated volume

–      Price

 

600,000

0.0017

e)

Date of the transaction

07/09/2018

f)

Place of the transaction

XLON, AIM

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Adrian Fairbourn

2

Reason for the notification

a)

Position/status

Non-Executive 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)

0.0017

588,235

d)

Aggregated information

–      Aggregated volume

–      Price

 

588,235

0.0017

e)

Date of the transaction

03/08/2018

f)

Place of the transaction

XLON, AIM

 

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.

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