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Cadence Minerals #KDNC – Further Director Share Purchases

Cadence (AIM:KDNC), the mining investment company, announces that on the 18 November the following directors purchased ordinary shares in the Company. 

Director

Position

Number of ordinary shares acquired

Price paid per share (£)

Andrew Suckling

Non-Executive Director

15,044

0.158

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

Director

Position

Total holding of ordinary shares

Kiran Morzaria

Director & CEO

1,112,000

Donald Strang

Finance Director

797,545

Andrew Suckling

Non-Executive Director

208,043

Adrian Fairbourn

Non-Executive Director

571,005

 

– Ends –

 

For further information:

 

Cadence Minerals plc

+44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

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 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

Share Purchase

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.158

15,044

d)

Aggregated information

–  Aggregated volume

–  Price

 

15,044

0.158

e)

Date of the transaction

18/11/2020

f)

Place of the transaction

XLON, AIM

 

Iron ore prices hurtle to a seven-year high, coking coal prices lag on quotas – Hellenic Shipping News

For the key steelmaking ingredients of iron ore and coking coal, it was a tale of two different markets this week.

The price of iron ore punctured the $US120 per tonne ($164.70/tonne) barrier this week, its highest since early 2014

This was on account of a stronger market for steel in China which is targeting massive investment in its infrastructure.

For the 62 per cent grade iron ore fines product, spot prices were transacting around $US121.75 per tonne, according to Metal Bulletin.

A week ago, iron ore cargoes delivered to ports in China were trading around $US116.85 per tonne, the price reporting agency said.

There are market indications that China’s demand for iron ore will remain strong over the course of the economic cycle.

A dozen Chinese steel companies have struck long-term supply agreements with Fortescue Metals Group (ASX:FMG).

The deals were agreed on the sidelines of the China International Import Expo and included FMG shareholder, Hunan Valin Iron & Steel Group.

Other steel firms in China such as Baotou Iron & Steel Group, and Rizhao Steel also signed agreements for FMG’s iron ore.

“China’s steel industry continues to outperform expectations, with crude steel production in the nine months to September 2020 reaching 782 million tonnes, and annual steel production expected to exceed 1 billion tonnes in 2020,” FMG chief executive Elizabeth Gaines said.

Prices for steel products in China climb on rising demand

Steel product prices in China are starting to rise, as are futures prices for hot rolled coil and reinforcing bar in China.

The price of steel reinforcing bar (rebar), which is used in construction and concrete, rose to $US605 per tonne, this week.

This is up $US22 per tonne on a week ago, according to reports.

Fresh environmental restrictions on steel plants in Tangshan are also creating demand for higher-grade iron ore.

Higher quality iron ore commands a higher price in the seaborne market, and the cost flows through the supply chain to consumers; in this case, steel mills in China.

Iron ore shipments to China are on a roll

China’s imports of iron ore increased in October to 106 million tonnes, representing a rise of 15 per cent on-year.

“China’s demand for iron ore imports has increased on the back of strong steel demand and positive steel mill margins,” said analysts at Commonwealth Bank of Australia in a report this week.

Beijing has primed its economy with stimulus money to offset a decline in activity from COVID-19 restrictions earlier in the year.

“China’s infrastructure sector has led China’s steel demand growth due to policy support after COVID-19,” said the analysts.

Meanwhile, Brazil’s iron ore shipments to China have started to increase again after hitting a seven-month low.

Vale, the South American country’s largest shipper of iron ore, has plans to increase its exports with new mine projects.

Port-side stockpiles of iron ore in China have risen to 129 million tonnes as of last week…..

Link here to the full Hellenic Shipping News article

Cadence Minerals #KDNC – Hastings Technology Metals (ASX: HAS) – Yangibana Drilling Confirms Significant Mineralisation Extension Now Up To 8km Long.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Hastings Technology Metals (ASX:HAS) (“Hastings”), Cadence’s joint venture partner at the Yangibana Rare Earth Project in the Gascoyne region of Western Australia (“Yangibana” “Yangibana Project”), has announced further significant results for the Simon’s Find deposit as part of the 2020 exploration drilling program for the Yangibana Rare Earths Project in Western Australia.

Cadence Minerals Yangibana Holding:

Cadence owns 30% of 3 Mining Leases, 6 Exploration Licences, which form part of the Yangibana Rare Earth Deposit. Hastings Technology Metals owns the remaining 70%. While the announcement today involves territory not covered by the JV license areas, the developments are nonetheless positive indicators for the future of the joint venture. Further details of our ownership the mineral resources and reserves on our jointly held leases can be found at:

https://www.cadenceminerals.com/projects/yangibana-rare-earth-project-2/

The current mine plan anticipates production to start from our joint venture areas (Yangibana and Yangibana North) in year 6 and continue to the end of mine life (year 13). Further details can be found in the Hastings 2019 Annual Report.

Highlights:

  • Results from drilling at Simon’s Find confirm a major 2km long zone of economic mineralisation, significantly expanding the existing resource base across the Yangibana Rare Earths Project.
  • Simon’s Find and the recently announced Fraser’s North and South drill results form a continuous zone of economic mineralisation 4km long.
  • The Fraser’s – Simon’s Find – Bald Hill trend now forms an 8km-long economic mineralised corridor.
  • Simon’s Find results contain world-beating quantities of neodymium (Nd2O3) and praseodymium (Pr6O11) that, when combined, total 52% of the TREO (total rare earth oxides) values. These results are significantly higher than the 40-41% values recorded from the nearby Bald Hill and Frasers deposits.
  • High-grade and shallow intersections from Simon’s Find include:
    • 2m @ 2.78% TREO from 46m
    • 6m @ 1.20% TREO from 43m
      • including 4m @ 1.61% TREO
    • 4m @ 1.21% TREO from 46m
    • 15m @ 0.72% TREO from 37m
      • including 6m @ 1.11% TREO
    • 2m @ 1.38% TREO from 67m
    • 7m @ 0.89% TREO from 31m
      • including 2m @ 1.76% TREO
    • 3m @ 1.40% TREO from 11m
    • 6m @ 0.75% TREO from 39m
      • including 2m @ 1.51% TREO
    • 83 out of 96 holes (~86%) reported significant intercepts of grades

Simon’s Find – Major Mineralised Trend Defined

Hastings can now report that it has successfully delineated, as a minimum, approximately 2km of economic mineralisation, forming the Simon’s Find resource area through the completion of close-spaced reverse circulation (RC) drilling.

Recent drilling to target ironstone rocks hosting rare earths has returned consistent grades and widths of mineralisation over a 2km-long zone, which remains open along strike and down dip. Results have also confirmed that Simon’s Find includes exceptionally high quantities of neodymium and praseodymium, widely recognised as the two most important rare earths elements required over the next decades to satisfy global demand for electric vehicles, renewable energy projects and industrial automation.

From the results underlying this announcement for Simon’s Find, neodymium and praseodymium (together, “NdPr”) represent approximately 52% of the total rare earths content. This is at least 25% higher than existing results from the nearby Bald Hill and Frasers deposits, which have a NdPr:TREO ratio of approximately 40-41% of total rare earths.

A 40-41% ratio is widely acknowledged as world leading when compared to other known rare earths deposits, which typically report ratios in the 15-25% range. The 52% recorded at Simon’s Find confirms the special and unique geological properties of Yangibana and further underpins Hastings’ accelerated march to becoming Australia’s next rare earths producer.

These new results are expected to substantially add to the 20.86Mt mineral resource1 (see ASX announcement dated 25 February 2020) already confirmed at Yangibana, with a new mineral resource and mining reserve estimate expected to be completed over the coming months.

Simon’s Find is located in close proximity to the site of Yangibana’s proposed processing plant. The nature of Simon’s Find’s softer geological host rocks means this deposit is expected to play an important role during the production start-up phase of Yangibana.

Frasers – Simon’s Find Trend

Drill results released during the year have confirmed that Simon’s Find forms the northern portion of a defined and continuous 4km-long zone of economic mineralisation when including the recently released Fraser’s South and Fraser’s North drilling results.

Frasers – Simon’s Find – Bald Hill Trend

Hastings has now defined a single, largely coherent zone of mineralisation commencing at Fraser’s South and finishing at Bald Hill (the largest of Yangibana’s rare earths deposits) that is approximately 8km in length.

Substantial potential exists for continued exploration throughout this zone, which has demonstrated significant capacity to host rare earths, while opening up enormous opportunities for mineral resource expansions and extensions to Yangibana’s mine life within close proximity of the processing plant location.

This zone has been lightly drilled and, on average, only between 40-70m below the surface. Additional opportunities to the north and south of this trend have been identified by geophysics and ground mapping. Down-dip extensions remain open along the entire 8km of defined mineralisation.

Exploring and delineating the mineralisation in this zone was a key objective of the 2020 exploration drilling program, which has been successfully delivered.

In fact, the 2020 exploration drilling program has been so successful that the vast majority of holes reported to date have delivered intercepts of TREO considered to be economic by the Company.

The full HAS release including detailed tables and graphics can be found at: https://www.investi.com.au/api/announcements/has/986a8ebc-c66.pdf

Hastings Executive Chairman, Charles Lew commented: “Hastings has delivered and exceeded all of its key objectives for the 2020 exploration drilling program. The results from drilling over the past several months have shown the magnitude of the resource potential that exists at Yangibana.”

“Hastings has now defined and delivered a single coherent zone of economic mineralisation trending more than 8km in length from Fraser’s through to Simon’s Find and Bald Hill, with further upside in all areas along this zone to the north, south and at depth.”

“Additionally, the ability to replicate the results from the past few months into other areas of the tenement package remains high, with similar known geological structures demanding additional work.”

“While the average head grades at Simon’s Find results may be lower than at Yangibana’s other deposits, what is important and makes this deposit such a stand-out – in global terms – are the very high levels of neodymium and praseodymium – at 52% of total rare earths reported.”

“Hastings will now start the process of collating the drilling information to define a new mineral resource for Simon’s Find.

“The success at Simon’s Find comes amid a busy period for Hastings as we advance Yangibana’s development by concluding more offtake contracts and settling on a coastal site for our project’s hydrometallurgical plant.”

Cadence Minerals CEO Kiran Morzaria commented: “As Hastings Chairman Charles Lew says, the results from drilling over the past several months have shown the magnitude of the resource potential that exists at Yangibana, and in particular the very high levels of neodymium and praseodymium reported from Simon’s Find.”

“Although the announcement today involves territory not covered by the JV license areas, the developments are nonetheless positive indicators for the future of the joint venture and provides additional validation for our investment strategy into this project. We look forward to further developments.”   

– Ends –

For further information:

Cadence Minerals plc +44 (0) 7879 584153
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss

Qualified Person

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

Forward-Looking Statements:

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

Cadence Minerals #KDNC Raises £90,504 Following Warrant Exercise & Converts $0.37m of Loan Note Into Shares

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY), announce that, it has received warrant exercise notices to subscribe for 361,111 new ordinary shares in the Company at an exercise price of 9 pence per share and 527,309 new ordinary shares in the Company at an exercise price of 11 pence per share. Subscription monies of £90,504 have been received by the Company in respect of the exercise of these warrants.

In addition and in relation to the to the US$ 3.9 million restructured loan note which was in part used to fund Cadence’s US$2.5 million escrow for the Amapá Project and was announced on the 15 June 2019 and 1 August 2019, Cadence has received a conversion notice to convert US$0.37 million into 2,341,625 new ordinary shares  in the Company at a fixed conversion price of 12 pence per share. After this conversion, the loan note has an outstanding balance of approximately US$ 1.03 million.

Application will be made for the admission to trading on AIM of London Stock Exchange plc and to and the AQSE Growth Market operated by Aquis Exchange Plc for the Warrant Shares and Conversion Shares.

Admission is expected to occur on or around 19 November 2020. Upon Admission, the Company will have 147,949,098 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore  147,949,098 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

– Ends –

 

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

 

For further information:

 

Cadence Minerals plc

+44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

Cadence Minerals #KDNC – Further Director Share Purchases

Cadence (AIM:KDNC), the mining investment company, announces that on the 11 November the following directors purchased ordinary shares in the Company. 

Director

Position

Number of ordinary shares acquired

Price paid per share (£)

Andrew Suckling

Non-Executive Director

49,999

0.16

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

Director

Position

Total holding of ordinary shares

Kiran Morzaria

Director & CEO

1,112,000

Donald Strang

Finance Director

797,545

Andrew Suckling

Non-Executive Director

192,999

Adrian Fairbourn

Non-Executive Director

571,005

– Ends –

For further information:

 

Cadence Minerals plc

+44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

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 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

Share Purchase

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.16

49,999

d)

Aggregated information

–  Aggregated volume

–  Price

 

49,999

0.16

e)

Date of the transaction

11/11/2020

f)

Place of the transaction

XLON, AIM

Cadence Minerals #KDNC – Directors Talk Interview with CEO Kiran Morzaria

Cadence CEO Kiran Morzaria joins Directors Talk to discuss the latest developments across the group projects, specifically focusing on the group’s flagship Amapa Iron Ore Project. Kiran provides an overview of the company, and explains the project strategy, shipping of the existing iron ore stockpile, and the final project step that will see Cadence acquire an initial 20% of the asset. Kiran also explains why the directors are currently buying shares in the open market.

Cadence Minerals #KDNC – Admission of Shares

Cadence (AIM:KDNC), the mining investment company, announces that, further to its announcements of 2nd and 4thNovember 2020, the 4,300,000 and 200,000 new ordinary shares referred to, respectively, will be admitted to trading on t he AIM of London Stock Exchange plc and to the AQSE Growth Market operated by Aquis Exchange Plc on 16thNovember 2020.

Upon Admission, the Company will have 144,719,053 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 144,719,053 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules. 

– Ends –

 

For further information:

 

Cadence Minerals plc

+44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

 

Cadence Minerals #KDNC – Further Director Share Purchases

Cadence (AIM:KDNC), the mining investment company, announces that on the 9 November the following directors purchased ordinary shares in the Company. 

Director

Position

Number of ordinary shares acquired

Price paid per share (£)

Andrew Suckling

Non-Executive Director

78,904

0.15

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

Director

Position

Total holding of ordinary shares

Kiran Morzaria

Director & CEO

1,112,000

Donald Strang

Finance Director

797,545

Andrew Suckling

Non-Executive Director

143,000

Adrian Fairbourn

Non-Executive Director

571,005

– Ends – 

For further information:

 

Cadence Minerals plc

+44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

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 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

Share Purchase

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.15

78,904

d)

Aggregated information

–  Aggregated volume

–  Price

 

78,904

0.15

e)

Date of the transaction

09/11/2020

f)

Place of the transaction

XLON, AIM

 

Cadence Minerals #KDNC – Director Share Purchases

Cadence (AIM:KDNC), the mining investment company, announces that on the 5 November the following directors purchased ordinary shares in the Company. 

Director

Position

Number of ordinary shares acquired

Price paid per share (£)

Adrian Fairbourn

Non-Executive Director

185,000

0.13

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

Director

Position

Total holding of ordinary shares

Kiran Morzaria

Director & CEO

1,112,000

Donald Strang

Finance Director

797,545

Andrew Suckling

Non-Executive Director

64,096

Adrian Fairbourn

Non-Executive Director

571,005

 

– Ends –

 

For further information:

 

Cadence Minerals plc

+44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

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

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

Share Purchase

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.13

185,000

d)

Aggregated information

–  Aggregated volume

–  Price

 

185,000

0.13

e)

Date of the transaction

05/11/2020

f)

Place of the transaction

XLON, AIM

 

Alan Green talks Keras Resources #KRS, Blencowe Resources #BRES & Cadence Minerals #KDNC on the UK Investor Magazine podcast

Alan Green discusses Keras Resources #KRS, Blencowe Resources #BRES & Cadence Minerals #KDNC with Jonathan Roy on the UK Investor Magazine podcast

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