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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.

 

Lithium-ion battery usage on the rise – via Pace

Article by PACE

The demand for lithium-ion batteries continues to increase, driven by the growth in hybrid and electric vehicle (xEV) production and the use of lithium-ion batteries in energy storage systems (ESS), according to a report by metals, minerals and chemical industry consultancy firm Roskill.

The transition from a market dominated by portable electronics to a market led by lithium-ion batteries in xEVs and ESS has seen the requirements for larger batteries with greater battery capacity, longevity and reliability. These changing battery requirements have catalysed the production and use of higher nickel-cathode chemistries such as NCA, NCM 532 and NCM 622.

Roskill uses their inhouse automotive model to evaluate the changing demands of lithium-ion batteries, including demands for battery components, raw material requirements, and the possible impact of new technologies such as solid-state batteries on the overall demand for battery raw materials.

The strong demand growth forecast for lithium-ion batteries however requires many individual components to be produced in order to manufacture a lithium-ion battery cell. These include cathodes, anodes, separators, electrolyte salts and solutions, copper and aluminium foils, binders and cell cases, all of which require a wide array of materials and industrial expertise. The supply chain and production processes for these materials are complex and long, involving multiples stages, with over 150 established companies producing the 9 key components required for the final battery cell product.

The focus of the lithium-ion battery supply chain has been solidly centred in the Asian market, with over 87 per cent of lithium-ion battery cell producers profiled located in Asia, though several producers plan to construct new manufacturing facilities in Europe and the USA. These expansions will ultimately adjust to evolving demand, especially from the automotive industry. Nevertheless, while many market analyses only consider plug-in EVs, other types of electric vehicles such low speed EVs (LSEV) and mild hybrids (48V) must be also considered to obtain a better demand perspective.

Regulatory changes across all regions have accelerated the development and uptake of xEVs, with emissions standards, subsidies and incentives; and potential bans on the sale of combustion vehicles influencing automaker investments, future models and consumer choice. The on-going trend is considered irreversible, as OEMs and component manufacturers have invested heavily in production infrastructure and research and development capabilities for xEVs. Transportation and energy sectors will need to become cleaner, and lithium-ion batteries are currently the most suitable instrument to achieve that end.

In 20‌18, China remained the largest market for xEVs, with sales surpassing 1.0M units for the first time. China has supported the production and sales of xEVs in its domestic market through a series of subsidies and incentives, resulting in both cash or non-cash benefits. These subsidies were changed in January 20‌19 to reduce the benefits applied to lower range xEVs, impacting vehicles with ranges under 200km. As manufacturers now look to target vehicles with longer ranges to still qualify for subsidies, the requirements of lithium-ion batteries and the demand for the raw materials used in their manufacture is ever-changing.

The demand for raw materials used in lithium-ion batteries is expected to increase exponentially, as a result of both sales volumes and changing requirements for battery components. Lithium demand from lithium-ion batteries is forecast to grow by 26 per cent per year in the years to 20‌28, increasing from 136‌.7kt lithium carbonate equivalent (LCE) to in excess of 1.4Mt LCE. Demand for nickel and cobalt will also experience considerable demand growth albeit their feedstock availability may be compromised. Beyond feedstock, the previous minerals and other relatively abundant materials as graphite and copper will face challenges, especially in the conversion capacity to process them into battery-grade materials.

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.

British Airways Introduces Electric Cab Service at Heathrow – Via Breaking Travel News

British Airways has introduced a brand-new electric cab service at its Heathrow home, giving customers the opportunity to experience travelling in a legendary London taxi without leaving the airport.

The London Electric Vehicle Company taxi features Wi-Fi, phone, laptop and USB charging and a panoramic roof – great for plane spotting.

In addition, customers can expect a smooth ride, air-conditioning and a spacious cabin with room for all of customers’ hand luggage.

The taxis will join British Airways’ fleet of chauffeur-driven executive vehicles, to drive premium customers at risk of missing their connecting flight to meet their next aircraft.

Customers are met by the driver at the aircraft side and are driven directly to the aircraft side of their onward flight.

With every ride completely free of charge, there’s no need for customers to reach for their wallets.

Daljit Hayre, British Airways senior manager, Heathrow Customer Experience, said: “It’s great to see the reaction of customers when they’re met by a London taxi at the side of the aircraft, waiting to take them on to their next flight.

“They’ve told us how much they appreciate this gesture, plus they love the space in the vehicle for their hand baggage.

“We’re also really pleased that using new generation electric taxi reduces our carbon footprint.”

The initiative is part of British Airways’ long-term plan to reduce emissions from all vehicles at Heathrow and follows the introduction of electric aircraft pushback vehicles.

This is British Airways’ Centenary year.

The airline is investing £6.5 billion for customers over the next five years, including new aircraft, new cabins, new catering, new lounges, Wi-Fi, and new routes.

Cadence Minerals #KDNC – First Ore Reserves Declared on Rare Earth Joint Venture Ground, Yangibana, Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that a maiden Ore Reserves has been declared on Cadence’s 30% joint venture ground at the Yangibana Rare Earth Project in the Gascoyne region of Western Australia (“Yangibana Project”).  The total Probable Ore Reserves on our joint venture are 2.07 million tonnes (“Mt”) at 1.66%  Total Rare Earths (“TREO”) including 0.43%neodymium oxide (“Nd2O3”) and praseodymium oxide (”Pr6O11.“).

Highlights from Hastings Technology Metals News Release:

  • Probable Ore Reserves on entire Yangibana Project increase 34% to 10.35 million tonnesat 1.22%TREO including 0.43%Nd2O3+Pr6O11
  • Updated Ore Reserve extends mine life by 3 years, supporting a +10-year operational life for the Project
  • Updated Ore Reserve increases Yangibana Project NPV to AUD516Mconfirming outstanding project economics
  • Includes the first Ore Reserves from joint venture ground

The Yangibana Project hosts rare earths deposits rich in neodymium and praseodymium, elements vital to permanent magnets that provide many critical components of wide ranging high-tech products, including electric vehicles, renewable energy wind turbines, robotics, medical applications and others. The Yangibana Project aims to be the next significant producer of neodymium and praseodymium outside of China.

Probable Ore Reserves

These joint venture Ore Reserves are contained within the Yangibana (M09/163) and Yangibana North (M09/159) tenemants and and form part of the larger Yangibana Project which contains Ore Reserves of 10.35 Mt at 1.22%TREO including 0.43 %Nd2O3+Pr6O11.

The Probable Ore Reserves were based on the Pre-Feasibility level study (“PFS”) information and recent geological, geotechnical, metallurgical and environmental work. Independent consultants Snowden Mining Industry Consultants (Snowden) has completed an updated mining reserve estimate based on Measured and Indicated Mineral Resources at each of Bald Hill, Fraser’s, Auer, Auer North, Yangibana, Yangibana West and Yangibana North deposits. This mining reserve estimate used Whittle pit optimisation software to maximise ore recovery using conventional drill and blast, load and haul mining methods.

The Probable Ore Reserves quoted in this document are derived from Measured and Indicated Resources as reported in our joint venture partners (“Hastings”) ASX announcement titled “Increase in Measured and Indicated Resources at Yangibana Project” dated 22nd November 2018.

The Probable Ore Reserves contained within 30% owned joint venture tenements are as shown in Table 1.

Table 1 – Yangibana Project – Probable Ore Reserves Within Tenements Held 30% by Cadence, December 2018

Deposit Tonnes %TREO %Nd2O3+Pr6O11 Nd2O3+Pr6O11 as a percent of TREO
Yangibana 110,000 0.60 0.28 47
Yangibana North 1,964,000 1.72 0.44 26
TOTAL 2,074,000 1.66 0.43  

Full details of the derivation of these Ore Reserves, inclusive of Mineral Resources, Cut-Off Parameters, mining factor, metallurgical factors and assumptions, environmental and social factors can be found in the full ASX release by Hastings here:

https://hastingstechmetals.com/download/68/2019/4414/reserves-increase-by-34-to-10-35mt-covering-10-years-operation-at-yangibana-project.pdf

Production Targets

The current Ore Reserve Statement has ore reserve estimates resulting from the design of several open pits that will produce mixed rare earth carbonates (“MREC”) over the current life of the project.

Capital and Operating costs are derived by independent third-party industry recognised specialists. The current Capex of $335M remains unchanged from the previous 2017 DFS. Operating costs reflect the mining and infrastructure setup costs of all pits within the mining schedule. Processing operating costs remain unchanged from the previous 2017 DFS study.

Additionally, over the life of the project a $17M allowance has been made in the operating cost for miscellaneous mining items for all the open pits within the mining schedule.

Current production targets on an annualised basis are to produce up to 15,000 tpa of MREC. The MREC will contain up to 8,850 tpa Total Rare Earths Oxides, of which up to 3,400 tpa will be neodymium oxide and praseodymium oxide. The mining schedule indicates the commencement of mining from the joint venture areas beginning in year 6 (2026) of with the large majority of the mined ore being derived from Yangibana North (M09/159) from year 8 onwards.

Revenue Factors

The PFS financial model assumes an average long-term US$/A$ exchange rate of 0.71 and uses Adamas Intelligence price forecasts for rare earths prices in 2021. Financial evaluation of the Probable Ore Reserves in the PFS results in the economic outcome shown in Table 2.

Table 2 – Yangibana Project – PFS Financial Evaluation Results

Operating Life 12 years
Net Present Value (NPV) A$516 M
Internal Rate of Return (IRR) 32.0%
Payback Period 2.7 years

 

The economic model assumes that Cadence’s wholly owned subsidiary Mojito Resources will participate in the development of the deposits held by Hastings (70%) in joint venture with Mojito Resources (30%) under the ‘Yangibana Joint Venture Agreement’. The specific deposits to which the joint venture applies are Yangibana and Yangibana North.

If there is a mine development by the joint venture, not only will there need to be a Mining Joint Venture Agreement agreed and put in place to replace the existing joint venture documentation and regulate the arrangements between the participants for the mine development, but arrangements will also need to be established to determine how the Yangibana production and tenements the subject of the joint venture fit with the broader 100% Hastings group owned production and tenements.

No costs or revenue ascribed to the 30% interest in the deposits held by Mojito Resources are reported in the financial modelling. If Mojito Resources did not participate in any development of the joint venture deposits and the development of those deposits was to proceed on a 100% basis by Hastings, then the economic model would need to be updated to allocate those costs and revenues to Hastings.

The estimates in this study relating to mining, processing and cost performance are underpinned by an updated PFS which has a confidence range of ±25%.

Details of Ownership

On 1 December 2011, Cadence announced that it had acquired a 30% free carried interest to Bankable Feasibility Study of the Yangibana North Rare Earth Deposit. The exploration costs until the commencement of the BFS are therefore borne solely by Hastings (70% owners and operator). The same terms agreed and announced on 1 December 2012 also apply to Gossan, Hook, Kanes Gossan, Lions Ear and Bald Hill North.

Cadence Minerals CEO Kiran Morzaria commented: “It is great to see the inclusion of Cadence’s joint venture ground within the mine plan of the Yangibana Project, and we look forward to working with Hastings Technology Metals to progress the Mining Joint Venture and crystalise value to Cadence’s shareholders.”

“The Yangibana Project has high grades in neodymium and praseodymium, which are critical in the manufacture of permanent magnets used in the motors of electric vehicles. In 2017, 75% of the rare earth market by value was represented by neodymium and praseodymium, and we see Yangibana as an important part of that supply chain.

– 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-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 – European Metals #EMH Cinovec initial drill results confirm confidence in robustness of ore body & higher than expected tin grades.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the Cinovec Project drilling update published today by European Metals Holdings Limited (“European Metals” or “EMH”). Initial results from its current eight core-hole resource drilling programme announced by the Company on 5 November 2018 confirms that drilling of five of the eight holes has been completed.  Drilling activities have been suspended and will resume after the end of the snow season.  Analytical results for four of the drill holes from the Cinovec South deposit are reported.

Key Points:

  • Resource drill holes CIS-10, CIS-11, CIS-12 and CIS-13 have been completed including analytical reports.
  • Resource drill hole CIS-14 has been drilled with analytical results pending.
    • Hole CIS-11 returned 129.3m averaging 0.51% Li2O, incl. 2m @ 0.93% Li2O, 2m @0.93% Li2O; 5m @ 0.56% Sn and 0.11% W, 5m @ 0.21% Sn, and 7m @ 0.11% Sn.
    • Hole CIS-13 returned 108m averaging 0.45% Li2O and 0.11% Sn, incl. 4m @ 0.99% Li2O; 6m @ 0.29% Sn, 5m @ 0.34% Sn, 3m @ 0.77% Sn and 0.12% W, and 2m @ 1.03% Sn, incl. 1m @ 1.92% Sn.
    • Hole CIS-10 returned 89m averaging 0.47% Li2O, incl. 6m @ 1.02% Li2O and 6m @ 0.91% Li2O; 5m @ 0.26% Sn, 5m @ 0.14% Sn, and 7m @ 0.077% W.
    • Hole CIS-12 returned 93m averaging 0.48% Li2O, incl. 2m @ 1.32% Li2O, 2.4m @ 1.17% Li2O and 3m @ 1.08% Li2O; 8m @ 0.83% Li2O and 0.18% Sn, 4m @ 0.13% Sn, and 5m @ 0.16% W..

Cadence holds approximately 19.1 percent of the equity in European Metals, which, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over Cinovec.

The full release can be found at:https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13947894.html

Cadence Minerals CEO Kiran Morzaria commented:“As stated in EMH’s announcement, Cinovec is the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource. To quote EMH CEO Keith Coughlan ‘the initial drill results confirm confidence in the robustness of the ore body and we are particularly encouraged by the higher than expected tin grades in hole CIS-13.’ From the Cadence perspective, and given Cinovec’s strategic significance in the future of the European electric vehicle market, these early results fully validate our investment strategy into this project, and our participation in the recent fundraising. We look forward to further progress and the updated PFS results.”

– 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-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.

VW and Ford forge partnership to spur low-carbon transport transition via edie.net

The rapid emergence of electric vehicles (EVs) and related autonomous driving technologies and mobility services is disrupting the global auto industry in ways that would have been unthinkable just five years ago.

Carmakers Ford and Volkswagen (VW) have forged a new low-carbon road transport partnership, which will see them work together to develop electric vehicles (EVs) and other clean technologies.

Unveiled on Tuesday (15 January), the collaborative agreement will initially see the two firms jointly develop a range of commercial vans and medium-sized pickup trucks, which will be launched across all of Ford and VW’s global markets in 2022.

Ford estimates that by collaborating on the development, manufacture and launch of these vehicles, the two companies will collectively save $500m (£387m) per year, starting in 2023.

Looking to the long-term, the agreement signed by Ford and VW also includes a memorandum of understanding (MoU) that the two companies will “investigate collaboration on autonomous vehicles, mobility services and further EVs”. The carmakers have both started to explore opportunities in these three fields on a standalone basis.

“Over time, this alliance will help both companies create value and meet the needs of our customers and society,” Ford’s chief executive Jim Hackett said.

“It will not only drive significant efficiencies and help both companies improve their fitness, but also gives us the opportunity to collaborate on shaping the next era of mobility.”

VW’s chief executive Herbert Diess echoed these sentiments, adding that the partnership would enable both companies to “harness [their] collective resources, innovation capabilities and complementary market positions to even better serve millions of customers around the world”.

Both VW and Ford have stressed that the alliance will not involve any “cross-ownership” of product lines in the future. Funding made jointly will instead be funnelled into infrastructure and efficiency projects.

Charging ahead

The announcement is the latest in a string of EV-related success stories for VW Group, which last week launched a new company focusing on EV charging solutions and renewable energy offerings.

Called the Elli Group, the new venture will be headquartered in Berlin and will develop and deliver products that assist the emergence and growth of the EV market, such as energy storage devices, charging points and ‘smart’ energy management systems.

VW has additionally confirmed this month that it will invest $800m in the expansion of its manufacturing plant in Chattanooga, Tennessee, to install EV production lines at the facility.

The first EVs to be made at the plant will be ID CROZZ SUVs, which are fully-electric and will be launched in 2022. The model is one of 20 fully-electric vehicles which VW has committed to launching by 2030 as part of its EV strategy.

Ford, meanwhile, has pledged to bring 16 new fully-electric and 24 hybrid models to market by 2025 as part of its $11bn low-carbon transport plan. Launched in 2017, the first move detailed in the plan is for Ford to bring a fully-electric SUV to market in 2020.

Volvo EV technology investment

The news also comes as the venture capital arm of Volvo Group announced it has invested an undisclosed sum in Momentum Dynamics, a start-up focused on the wireless charging for EVs.

The Philadelphia-based company specialises in developing and commercialising high power inductive charging for the automotive and transportation industries.

“Momentum Dynamics’ technology and competence within inductive bi-directional transmission of electrical energy and information safely through air, water and ice will fit the harsh conditions under which our customers operate,” said Per Adamsson, Vice President at Volvo Group Venture Capital. “High capacity charging up to 300kW for trucks, buses, construction equipment, industrial and marine applications will support the electrified transition.”

Financial details of the investment were not disclosed, although Volvo said “the transaction has no significant impact on the Volvo Group’s earnings or financial position”.

Advocates of wireless charging argue that it could streamline charging for EVs, making it easier for drivers to top up batteries opportunistically through car parks or even roads that feature embedded wireless charging systems.

 Stefan Söderling, investment director at Volvo Group Venture Capital, said the deal provided further evidence of the company’s commitment to green technologies, as well as its growing interest in co-operating with other firms working in the EV sphere.

“For Volvo Group we are strengthening our competence and knowledge of charging and electricity distribution within the ecosystem around electric transportation and energy supply,” he said. “We see partnership, cooperation and investments as the way forward in a fast-changing environment.”

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V:MMS) updates on Nickel exploration at Lake Giles project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) has provided a further update on the results of its drilling of high priority nickel sulphide targets at its Lake Giles project in Western Australia. Surveying at targets derived from recent geophysical surveys using Moving Loop Electromagnetics (“MLEM”) successfully delineated two bedrock conductors, MC01 and MC02 at Moonshine, with a further bedrock conductor identified at the Snark prospect.

Highlights:

  • Results for the two Reverse Circulation (“RC”) drill holes completed at Moonshine North have returned encouraging assay results.
  • Anomalous nickel in hole 18MRC001 with average of 0.2% Ni over 31 metres (“m”) from 26m.
  • Potassic alteration indicated in hole 18MRC001 from 140m to 146m (20% Potassium content) marginal to the sulphide intersection in the hole.
  • Anomalous gold associated with sulfidic chert in interval 106m to 113m (average gold content 159 part per billion (“ppb”) over the interval).
  • Both holes had successfully intersected sulphide minerals at depth and semi-massive sulphide comprising 20% pyrite/pyrrhotite was recorded over 12m in hole 18MRC002 from 185m to end of hole (“EOH”). Sulphide mineralisation is open at depth and on strike with the hole ending in sulphide mineralisation.

Prior to Macarthur’s acquisition of the Lake Giles project, there were two previous periods of limited exploration activity for nickel over parts of the present tenement package. The recent review and evaluation of geochemical and geophysical data has identified significant exploration targets for nickel. These targets include some fifteen areas considered prospective for discovery of sulphide style nickel within the belt of ultramafic rocks.

Mr Ian S Cooper, B.Sc., A.R.S.M., F.G.S. FAusIMM, a Fellow of the Australasian Institute of Mining and Metallurgy (membership number 107348, is a consultant of Macarthur and is a Qualified Person as defined in National Instrument 43-101. Mr Cooper has reviewed and approved the technical information contained in this news release.

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=7609341802648786&qm_symbol=MMS

Cadence Minerals CEO Kiran Morzaria commented: “This drilling update from Macarthur provides encouraging assay results to follow the earlier geophysical surveys. We look forward to further updates from Cameron McCall and his team.”

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
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 – 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 Non-Executive Chairman 830,743 0.12
Kiran Morzaria Director & CEO 830,744 0.12
Donald Strang Finance Director 800,000 0.13
Adrian Fairbourn Non-Executive Director 1,666,667 0.12

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

Director Position  
Andrew Suckling Non-Executive Chairman 6,409,644
Kiran Morzaria Director & CEO 15,502,604
Donald Strang Finance Director 13,100,000
Adrian Fairbourn Non-Executive Director 13,600,539
 Total   48,612,787

 

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
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss

 

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 Andrew Suckling
2 Reason for the notification
a) Position/status Non-Executive Chairman
b) Initial notification/ Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Cadence Minerals PLC
b) LEI 213800TUZWG9C2GRNO58
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument
Identification code
Ordinary Share

GB00B067JC96

b) Nature of the transaction Defined Directors Share Purchase Programme
c) Price(s) and volume(s)
Price(s) Volume(s)
  1. 0.0012
830,743
d) Aggregated information

  • Aggregated volume
  • Price
830,7430.0012
e) Date of the transaction 07/01/2019
f) Place of the transaction XLON, AIM

 

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)
  1. 0.0012
830,744
d) Aggregated information

  • Aggregated volume
  • Price
830,7440.0012
e) Date of the transaction 07/01/2019
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)
  1. 0.0013
800,000
d) Aggregated information

  • Aggregated volume
  • Price
800,0000.0013
e) Date of the transaction 05/01/2019
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)
  1. 0.0012
1,666,667
d) Aggregated information

  • Aggregated volume
  • Price
1,666,6670.0012
e) Date of the transaction 04/01/2019
f) Place of the transaction XLON, AIM

 

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