Home » Cadence Minerals (KDNC) » Cadence Minerals (KDNC) – Macarthur Minerals acquires 15% interest in W Australia Gold project

Cadence Minerals (KDNC) – Macarthur Minerals acquires 15% interest in W Australia Gold project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Macarthur Minerals Limited (TSX-V: MMS) has announced it has completed acquisition of 15% of Yalgoo Exploration Pty Ltd, which owns the Melville Gold Project in Western Australia. 

  • Yalgoo Exploration owns two granted exploration licences (E59/2077 and E59/2140), covering an area of 191 square kilometres (47,161 acres) in the Murchison region of Western Australia. The Yalgoo Tenements are located approximately 500 km north-east of Perth.
  • Yalgoo Exploration is a private company which has been focussed on the exploration and development of the Melville Gold Project, which is located on the Yalgoo Tenements.
  • The Melville Gold Project located on exploration licence E59/2077. In 2004 a previous owner defined a mineral resource for the Melville Gold Project in accordance with The Australasian Code for the Reporting of Identified Mineral Resources and Ore Reserves (JORC Code), 2004. 

Cadence has a 15.7% equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium and iron ore in the Pilbara region of Western Australia. It also has a lithium project in the USA. 

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7230985761000291&qm_symbol=MMS .

Kiran Morzaria, Chief Executive Officer of Cadence, commented: “We believe that this acquisition brings additional value to the Macarthur Minerals, especially with the gold price at its current level.”

– Ends –

For further information, please contact.

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 Bavister

Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore

Giles Fitzpatrick

Square1 Consulting

+44 (0) 207 929 5599

David Bick

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. With over £25 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

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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