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Cadence Minerals #KDNC – Feasibility Study Update: Macarthur Minerals (TSX-V: MMS) (ASX: MIO) moves ahead with mine design for Lake Giles Iron Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has updated on the progress made on the mining and haulage components of the Feasibility Study for the Lake Giles Iron Project. Macarthur has been working with Orelogy Mining Consultants (“Orelogy”) and Pells Sullivan Meynink (“PSM”) on the mine design and road haulage aspects of the Project.

Highlights:

  • Macarthur engagement of Orelogy and PSM on mine design, geotechnical design and road haulage pricing.
  • Request for Budget Pricing (“RFBP”) submitted to contract mining and road haulage operators to establish contractor pricing for operations.
  • Geotechnical drilling program defined for the Moonshine and Moonshine North pits to establish geotechnical parameters for final pit designs.

Macarthur has been working with mining consultants Orelogy and geotechnical engineers from PSM on the mine design for the Lake Giles Iron Project. Orelogy has completed preliminary pit optimisations, designs, scheduling and project layouts to support an operation targeting production of 3 Mtpa (dry) magnetite concentrate. Additionally, PSM has been supporting the mine design through a geotechnical review of drill core and project geology.

A request for budget pricing (RFBP) has been submitted to several local mining contractors for contract mining and road haulage services including:

  • Site establishment
  • Site preparation
  • Drill and Blast
  • Excavate, load and haul
  • Road haulage to the railhead
  • Road maintenance
  • Loading of rail wagons

PSM has designed a diamond drill program to obtain detailed geotechnical parameters for final pit designs. Macarthur is currently engaging with drilling contractors to undertake this drill program as soon as possible.

The full announcement can be viewed here: https://macarthurminerals.com/wp-content/uploads/2021/04/MMS-NR-FS-update-Mine-Design_15-April-2021.pdf 

Macarthur Minerals CEO Andrew Bruton commented: “Macarthur is pleased to be working with Orelogy and PSM on this important component of the Feasibility Study for the magnetite mining operations at Lake Giles. An extensive body of work is being undertaken on the mine design and geotechnical design and securing contractor pricing for mining and road haulage costs is important to ensure that mining operations can be optimised. This budget pricing information will help inform the next phase of work that Orelogy and PSM will be undertaking.

The Macarthur feasibility study team continues to make significant progress and is critically examining options for mine design that will maximise the value of the project for the benefit of shareholders. You can see from the preliminary design diagram that the mine pits and scale of the operation is huge. The area of the pits stretch over 6 kilometres and we are only currently focused on the first 20 plus years of mine and plant life. The scale of a billion-tonne magnetite resource in such close proximity to existing rail and port infrastructure is very unique globally. I am ensuring that the project steps are incremental so that Macarthur has the capacity and internal resources to bring the first stage into production.

We look forward to updating the market as the Feasibility Study continues to progress.”

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 1% 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.

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) 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 Cadence Minerals Plc’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 Cadence Minerals Plc. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. Cadence Minerals Plc cannot assure investors that actual results will be consistent with such forward-looking statements

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) applies for additional tenements to support groundwater drilling campaign following completion of AEM Survey

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has made applications for tenements to support a groundwater search drilling programme following the successful completion by CGG Aviation of a Tempest airborne electromagnetic (AEM) survey of palaeovalleys adjacent to the Lake Giles Iron Project.

Highlights:

  • Macarthur continues to work with consulting hydrogeologists from Rockwater Pty Ltd (“Rockwater”) to define a source for process water requirements for magnetite processing at its Lake Giles Iron Project.
  • The Goldfields region contains numerous buried palaeovalleys that are likely to contain large volumes of groundwater. Such systems are currently exploited to supply process water demands for other Goldfields operations such as BHP’s Nickel West, Glencore’s Murrin Murrin Nickel Project and Gold Road’s Gruyere Gold Project.
  • The western limb of the Rebecca palaeovalley is located approximately 15 to 40 km east of the Lake Giles Iron Project and extends over 160 km North to South. This system is expected to contain abundant groundwater and is currently not exploited by other operators.
  • Macarthur recently completed an airborne AEM survey covering an area of 970 km2across the Rebecca palaeovalley. Preliminary results have been obtained with additional data processing ongoing to generate detailed information to map the palaeovalley geometry. Macarthur has now made applications for two groundwater search miscellaneous licences covering an area of 553 km2 across the prospective zone interpreted from the AEM survey. The Company is now preparing to undertake a groundwater exploration program targeting approximately 30 holes to obtain detailed information on water flows and water quality.
  • The Tempest AEM system is suited to conductivity mapping and has previously been utilised for mapping the location, extent and basement topography of palaeodrainage systems. Interpretation of the data collected will be undertaken by hydrogeologists from Rockwater, who are experts in the application of hydrogeological surveys, to define suitable drill targets for groundwater exploration

The full announcement can be viewed here: https://finance.yahoo.com/news/lake-giles-feasibility-study-macarthur-120000645.html

Commenting on the new appointments, Andrew Bruton, Chief Executive Officer of Macarthur

Minerals stated: Macarthur’s applications for two Miscellaneous Licences to support planned groundwater search activities is another important step forward for the Lake Giles Iron Project Feasibility Study. Following completion of analysis of the AEM survey data, Macarthur will work with consulting hydrologists from Rockwater, to identify suitable drill targets. 

The Company plans to commence groundwater exploration activities as soon as possible following the grant of the relevant tenements. This important programme of work will enable the Company to test the quantity and quality of water required to support its magnetite processing requirements, and it will form part of a much broader scope of site-based activities planned by the Company at Lake Giles this year.

Step by step, the Macarthur team is working through every aspect of the Lake Giles Iron Project to ensure the delivery of a robust Feasibility Study that has the potential to deliver a valuable and sustainable high-grade magnetite project for its shareholders. We look forward to providing many more updates on progress in the coming months.” 

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 1% 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.

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) 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 Cadence Minerals Plc’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 Cadence Minerals Plc. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. Cadence Minerals Plc cannot assure investors that actual results will be consistent with such forward-looking statements

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) bolsters team with world-class technical appointments to enhance delivery of Lake Giles Feasibility Study

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has appointed two leading experts to its owners’ team, to enhance the delivery of the Feasibility Study for its high-grade magnetite Lake Giles Iron Project in Western Australia.

Highlights of Appointments

  • Mineral Processing Engineer – Dr Richard Peck: Highly regarded Mineral Processing Engineer, Dr Richard Peck appointed to provide technical minerals processing support for Macarthur’s owners’ team.
  • Mining Engineer – Mr Bernard Holtshousen: Globally recognized and experienced Mining Engineer and corporate executive, Mr Bernard Holtshousen appointed to provide technical and practical support to optimise the Company’s mining and development approach at Lake Giles.
  • Appointments will provide enhanced rigour to the study process and to ensure that the Feasibility Study is delivered within expected timeframes.

The full announcement can be viewed here: https://macarthurminerals.com/wp-content/uploads/2021/03/NR-FS-Update-Technical-appt_-23-March-2021.pdf

Commenting on the new appointments, Andrew Bruton, Chief Executive Officer of Macarthur

Minerals stated: “Dr Peck and Mr Holtshousen are highly experienced in their respective fields of minerals processing and mine engineering. They bring enviable experience on a global scale to Macarthur, and the appointments are another smart step to ensure that Macarthur’s owners’ team is appropriately supported with the disciplines necessary to deliver a robust study that is capable of withstanding the rigour of technical and financial due diligence as we move through project financing.

The most important factor in assembling the Macarthur owners’ team is to ensure that it includes experienced professionals who have overseen successful mining and magnetite processing operations. 

The deliberate decision to combine the expertise of Dr Peck and Mr Holtshousen is aimed at ensuring that the Macarthur owners’ team can facilitate responsible strategies and improve the efficiency of operations in the magnetite mining and processing at Lake Giles so that Management can aim to deliver the best economic value for the Company’s assets for the benefit of its shareholders.

Macarthur will continue to build a world class project delivery team that is required to successfully bring the Lake Giles Iron Project out of the ground. We welcome Richard and Bernard to the Macarthur team.”

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 1% 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.

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) 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 Cadence Minerals Plc’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 Cadence Minerals Plc. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. Cadence Minerals Plc cannot assure investors that actual results will be consistent with such forward-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Lake Giles Feasibility Study Update.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has announced that it engaged CGG Aviation to undertake a Tempest airborne electromagnetic (AEM) survey of palaeovalleys adjacent to the Lake Giles Iron Project to assist in the identification of groundwater drilling targets. CGG mobilised to site on 10 March 2021 and the aerial survey was completed over a period of 5 days.

Highlights:

  • Survey covered an extensive area of the Rebecca palaeovalley in close proximity to the Lake Giles Iron Project where a large quantity of groundwater is expected to occur.
  • Tempest AEM survey successfully employed in previous groundwater aquifer interpretations.
  • Drill targets will be defined from AEM surveys with subsequent drilling planned during the first part of this year to test quality and quantity of water to support magnetite processing requirements.

Macarthur has been working with consulting hydrogeologists from Rockwater Pty Ltd (“Rockwater”) to define a source for process water requirements for magnetite processing at its Lake Giles Iron Project.

The Goldfields region contains numerous buried palaeovalleys that are likely to contain large volumes of groundwater. Such systems are currently exploited to supply process water demands for other Goldfields operations such as BHP’s Nickel West, Glencore’s Murrin Murrin Nickel Project and Gold Road’s Gruyere Gold Project. The western limb of the Rebecca palaeovalley is located approximately 15 to 40 km east of the Lake Giles Iron Project and extends over 160 km North to South. This system is expected to contain abundant groundwater and is currently not exploited by other operators.

Macarthur engaged CGG Aviation to undertake an airborne AEM survey covering an area of 970 km2. Electromagnetic data was collected from the survey which was conducted over 1,322 line kilometres at a line spacing of 800m. The Tempest AEM system is suited to conductivity mapping and has previously been utilised for mapping the location, extent and basement topography of palaeodrainage systems. Interpretation of the data collected will be undertaken by hydrogeologists from Rockwater, who are experts in the application of hydrological surveys, to define suitable drill targets for groundwater exploration.

The full announcement can be viewed here: https://macarthurminerals.com/wp-content/uploads/2021/03/MMS-NR-FS-update-AEM-Survey_16-March-2021.pdf

Cadence Minerals Holding in Macarthur

Cadence holds approximately 1% 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.

 

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) 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 Cadence Minerals Plc’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 Cadence Minerals Plc. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. Cadence Minerals Plc cannot assure investors that actual results will be consistent with such forward-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Announces Spin-Out of its Pilbara Gold Copper Tenements to Timeless Capital.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) and Timeless Capital Corp. (TSX-V: TLC.P) (“Timeless”) have entered into a letter of intent in respect of a proposed transaction (the “Transaction”), whereby Timeless shall acquire: (i) from Macarthur, through its wholly owned subsidiary, Macarthur Lithium Pty Ltd (“MLi”), a portfolio of Macarthur’s Pilbara, Western Australia tenements (“Pilbara Assets”) plus CAD$1.4 million in cash which Macarthur may choose to fund from the value derived from Macarthur’s shareholding in FE Limited (collectively, the “Macarthur Contribution”), and (ii) from Zanil Pty Ltd. (“Zanil”), an Australian company, a portfolio of gold copper tenements, located near Leonora in Western Australia (“Central Goldfield Assets”), in exchange for equity of Timeless (collectively, the “Transaction”) which assets were optioned by Macarthur to undertake due diligence under the recently announced agreement with Zanil.

It is anticipated that following completion of the Transaction:

  • Macarthur will hold approximately 26.67% (11,428,571) of the outstanding Timeless Shares, issued in consideration of the Macarthur Contribution;
  • Zanil will hold approximately 26.67% (11,428,571) of the outstanding Timeless Shares, issued in consideration for the Central Goldfield Assets; and
  • the current Timeless shareholders will hold approximately 9.68% of the outstanding Timeless Shares.

Macarthur continues to primarily focus its resources on bringing its flagship Lake Giles Iron Project into production. The Timeless Transaction will allow value to be attributed to the non-iron Pilbara assets held by Macarthur, providing an opportunity to independently resource the exploration of the key areas without distracting time and resources away from the Lake Giles Iron Project development path. Following completion of the transaction, Macarthur will have a material shareholding in Timeless.

Concurrent Financing

In connection with the Transaction, the Vendors shall complete a concurrent arm’s length financing for anticipated gross proceeds of a minimum of CAD$5 million (the “Concurrent Financing”). It is currently anticipated that the Concurrent Financing will result in the issuance of up to 14,285,714 shares at a price of CAD$0.35 per share. The Concurrent Financing will be comprised of a non-brokered portion, in the amount of CAD$2.5 million, comprised of lead orders from arm’s length parties introduced by the Vendors, and a brokered portion in the amount of CAD$2.5 million. All securities issued in connection with the Concurrent Financing will be exchanged for Timeless Shares pursuant to the Transaction. The proceeds of the Concurrent Financing will be used primarily for the purposes of supporting a targeted exploration programme of works across on the Pilbara Assets and the Central Goldfields Assets.

The full announcement can be viewed here: https://macarthurminerals.com/wp-content/uploads/2021/03/MMS-NR-Spin-out-of-Pilbarra-assets-to-Timeless_4-March-2021.pdf

Cadence Minerals Holding in Macarthur

Cadence holds approximately 1% 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.

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) 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-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Enters Into Exclusive Agreement Over 10 Historic Prospecting and Mining Lease Tenements in the Central Goldfields of Western Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has entered into an exclusive agreement with Zanil Pty Ltd (“Zanil”) to undertake due diligence over 10 tenements in and around the Leonora Goldfields region in Western Australia (“Agreement”). The Agreement is intended to strengthen the value proposition for a potential future repositioning of Macarthur’s non-iron ore assets.

Zanil is an Australian Proprietary company. Zanil either directly holds rights over, or is duly authorised on behalf of the relevant tenement holders, to enter into the Agreement with Macarthur in respect of the tenement areas:

Location of the properties under due diligence

The Leonora tenements are located in the Central Goldfields region of Western Australia, approximately 237 kilometres north of the city of Kalgoorlie within the proximity of active gold mines such as Agnew gold mine, Gwalia gold mine and Sunrise Dam gold mine.

The tenement portfolio consists of two mining leases and eight prospecting licences, with nine of the areas located on historic gold workings. The other tenement, Barlow’s Gully, has no established mine workings, but has been subject to surface gold extraction for over 100 years.

Key tenements are:

Garden Well was mined prior to 1987 and subsequently subject to periodic exploration campaigns.

Camel Lease historically produced 30.72kg (1083.61oz) of gold reported in WA Government Minedex database as:

— Sons of Australia – 26.3kg (927.70oz) Au from 691 tonnes @ 38.1g/t Au

— Camel Leases – 4.39kg (154.85oz) Au from 142 tonnes @ 30.9g/t Au

— Kruger and Viceroy – 3.95kg (139.33oz) Au @ 37 g/t Au

This reef has been mined to ~150 feet and historic reports suggest water ingress to be the main factor in mining being discontinued.

Great Northern tenement records production of 460 tonnes of ore mined for 10.1kg (356.26oz) Au @ 21.9 g/t Au.

Barlow’s Gully tenement has no historical mine workings but covers the Ursus fault structure. Outside the lease the Ursus fault structure hosts the Torian Sterling Well discovery (held by others), Cerebus-Eclipse 112,000oz Au resource (held by others), and the Centauri 83,100oz Au resource (held by others).

Coppermine is a tenement that has a historical mine working with notable surface copper expression.

The past production reported from these areas are not treated as current or historical Mineral Resources and further exploration is required to understand the potential for gold or copper mineralisation.

The location of the 10 tenements is shown on the below map that highlights the prospectivity of the Leonora Goldfields and indicates the potential of this tenement portfolio.

https://www.globenewswire.com/NewsRoom/AttachmentNg/f7ed9f5d-b5a1-43db-a563-3f3ad679becf

Alan Joe Phillips, Managing Director of Macarthur Minerals, commented: “The main focus for the Company is ‘first and foremost’ the ongoing development of the Lake Giles Iron Ore assets. The entering into of the due diligence agreement with Zanil is designed to all for an exclusive low-cost review of the Central Goldfields assets to augment the Company’s Pilbara gold, copper and lithium tenement portfolio.

If these tenements demonstrate value, Macarthur will consider spinning out this portfolio as part of a wider Pilbara/Central Goldfields transaction. The objective is to create value for shareholders by exploiting these tenements without detracting or distracting Macarthur from delivering on its substantial Lake Giles Iron Project.”

The full announcement can be viewed here: https://ca.finance.yahoo.com/news/macarthur-minerals-enters-exclusive-agreement-130000290.html

Cadence Minerals Holding in Macarthur

Cadence holds approximately 1% 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.

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) 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-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) appoints leading consultants to enhance the delivery of the Lake Giles Iron Project Feasibility Study

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has appointed the following leading consultants to enhance the delivery of the Feasibility Study for the high-grade magnetite, Lake Giles Iron Project in Western Australia:

  • Study Management: Optimize Group (“Optimize”) has been appointed to provide study management services and to assist it in the preparation of the final Feasibility Study Reports.
  • Transport Logistics: Projectus Infrastructure (“Projectus”) has been appointed to provide transport infrastructure (rail and port) optimisation support for the delivery of the Feasibility Study.
  • Economic Modelling: FTI Consulting (“FTI”) has been appointed to provide economic and financial modelling services for the Feasibility Study.

Highlights of Optimize Group Appointment:

  • Highly regarded study management consultant Optimize, appointed to support Macarthur’s owners’ team.
  • Optimize will provide key study management support functions.
  • Appointment will provide Macarthur with access to a broad range of technical disciplines necessary for optimal management of externally appointed study consultants, critical assessment of study deliverables and the efficient control of study costs.
  • Appointment will provide enhanced rigor to the study process and to ensure that the Feasibility Study is delivered within expected timeframes and approved budget.

Highlights of Projectus Infrastructure Appointment:

  • Highly regarded Australian infrastructure advisory and services firm Projectus, has been appointed to provide transport infrastructure advisory and feasibility study services.
  • Appointment will provide access to specialist services for the development of a robust mine-to- port transport infrastructure configuration and operating model.
  • Appointment will assist Macarthur to:
    • identify transport infrastructure alignment, access and interface issues (across road transport, rail and port);
    • create a detailed route to market operating plan to inform Macarthur’s approach to commercial rail and port contract negotiations; and
    • mitigate potential project operations risks. 

Highlights of FTI Consulting Appointment:

  • Highly regarded global management consultancy FTI appointed to support Macarthur’s owners’ team to provide financial modelling services for development of an advanced financial model for the Feasibility Study.
  • FTI’s specialist mining advisory group will accelerate the financial modelling process and will assist with strategy assessment, options resolution and economic optimisation.
  • Appointment to provide Macarthur with access to robust financial modelling functionality for the delivery of the Feasibility Study, to assist project financing negotiations.

For the full announcement click here: https://macarthurminerals.com/wp-content/uploads/2021/02/NR-FS-update-leading-consultants-appointments-16-February-2021.pdf

Ian McKenzie, Vice President of Engineering – Optimize Group commented: “Optimize Group is pleased to be involved in the development of such an outstanding project. Integration of the study team members will provide an effective study execution plan with positive outcomes. Optimize Group is looking forward to supporting the Macarthur Minerals team and project.”

Bryce Jones, Projectus Managing Director commented: “We are delighted to be contributing an important part of the Feasibility Study to support Macarthur in its development of the Lake Giles Project.”

Andrew Bantock (Senior Managing Director, Co-Leader of Asia Mining and Mining Services Corporate Finance & Restructuring) at FTI Consulting commented: “FTI is pleased to be working with Macarthur Minerals to develop a best-in-class bespoke DFS financial model for the Lake Giles Iron Project. Our specialist mining advisory team will work closely with Macarthur’s management and its technical consultants to enable various project development scenarios to be assessed and resolved quickly and accurately.” 

Commenting on all of these appointments, Andrew Bruton, Chief Executive Officer of Macarthur Minerals stated: “We are very pleased to be working with the teams at Optimize Group, Projectus and FTI Consulting. The appointment of these consultants at this critical phase of the Feasibility Study is strategic and is designed to ensure that Macarthur’s owners’ team is appropriately supported with the disciplines necessary to deliver a robust study that is capable of withstanding the rigour of technical and financial due diligence as we move through project financing. 2021 is set to be a breakout year for Macarthur. Further updates on Feasibility Study progress will be regularly provided to the market throughout the course of the year.” 

Cadence Minerals Holding in Macarthur

As a result of dilutions Cadence now holds approximately 1% 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.

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) 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-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) signs MOU with Southern Ports Authority for access to Port of Esperance

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has signed a Memorandum of Understanding (“MOU”) with Southern Ports Authority (“Southern Ports”) which provides a pathway for agreeing a potential access and operating solution for the export of Macarthur’s high grade magnetite iron ore product via the Port of Esperance (“Port”). The MOU with Southern Ports is non-binding but it does establish a clear pathway for:

Highlights:

  • The Port of Esperance is an established deep water port located south of Macarthur’s Lake Giles Iron Project. It is accessible via an existing rail network and has the capability to handle large ‘Cape’ size iron ore vessels.
  • In July 2020, Macarthur received a proposal from Arc Infrastructure for an agreed pathway to develop a Commercial Track Access Agreement for below rail capacity from Lake Giles to the Port of Esperance.
  • With high speed throughput design capacity potential, Macarthur’s proposed Helix Dumper rail unloading solution would bring ‘state of the art’ rail unloading technology to the Port of Esperance.
  • The MOU with Southern Ports Authority provides a clear pathway that can support the delivery of the Company’s current Feasibility Study and represents a substantial step towards Macarthur securing access to the Port of Esperance and completing a fully contracted route to market for its Lake Giles Iron Project.
  • The design of a 300,000 tonne iron ore storage shed (“shed”) by Macarthur;
  • The design of a new rail car unloading solution at the Port by Macarthur (presently proposed to be an Australian-first Helix rail car unloading solution and associated tube conveyor) (“Helix Dumper”);
  • The approval of the shed and Helix Dumper designs by Southern Ports; and
  • The identification of suitable land by Southern Ports for the construction of the shed and Helix Dumper within the Port..

A conceptual engineering design report was completed by RCR Mining Technologies Pty Ltd in 2020 for the proposed Helix Dumper and, subject to mutually satisfactory engineering design and approval processes for the shed and Helix Dumper being completed (and suitable land being identified by Southern Ports for their construction), the parties intend to commence good faith negotiations on the terms of binding commercial agreements which will be necessary for Macarthur to:

  • Construct, operate and maintain the shed and Helix Dumper; and
  • Access the Berth 3 ship loader at the Port..

Any binding commercial agreements in relation to the shed, Helix Dumper and ship loader access will be conditional upon agreed milestones being met by Macarthur (including financing for its Lake Giles Iron Project).

Southern Ports is presently undertaking a broader master planning process at the Port of Esperance, and Macarthur’s access and operating solution will need to align with Southern Port’s master-planning objectives. The MOU provides optionality for Southern Ports to broaden access to any un-utilised capacity in the Helix Dumper for the benefit of other Port users by examining the potential for a hybrid design that may allow the Helix Dumper to “dual function” with bottom-dump rail wagon capability. Examination of these options has the potential to deliver increased business through the Port and benefit both the Esperance community and the Western Australian economy.

The pathway process in the MOU is intended to align with the completion of Macarthur’s Feasibility Study for the Lake Giles Iron Project during the current calendar year so that the Company can target commencement of first shipment of iron ore from Lake Giles in Q1 2024.

The full release can be found at: https://macarthurminerals.com/macarthur-signs-mou-with-southern-ports-authority-for-access-to-port-of-esperance/

Andrew Bruton, Chief Executive Officer of Macarthur Minerals commented:  “The MOU with Southern Ports Authority represents a substantial step towards Macarthur securing eventual access to the Port of Esperance and completing a fully contracted route to market for the Lake Giles Iron Project.  

The Company’s innovative proposal for the development of on-port infrastructure at Esperance has the potential to deliver an export solution at the Port within a timeframe to meet the development objectives for Macarthur’s Lake Giles Iron Project, and Macarthur is committed to working diligently with Southern Ports towards ensuring that any agreed infrastructure model can be supported by a workable operating solution that will meet the requirements of the Port.

The MOU with Southern Ports provides a clear pathway that can support the delivery of the Company’s current Feasibility Study and it is the next critical piece of the route to market infrastructure puzzle following Macarthur’s announcement last year that it had received a proposal for an agreed pathway to develop a Commercial Track Access Agreement for below rail capacity from Lake Giles to the Port of Esperance.

We are very pleased to be working collaboratively with the team at Southern Ports Authority to achieve an outcome that will underpin long term jobs in the Esperance and Goldfields regions of Western Australia. With a clear framework in place, we now have a process to accelerate our engagement as Macarthur aims to deliver new iron ore business through the Port.”

Cadence Minerals Holding in Macarthur

As a result of dilutions Cadence now holds approximately 1% 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.

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) 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-looking statements

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) files Technical Report for Lake Giles Magnetite Mineral Resource.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has filed the technical report for the magnetite Mineral Resource update for its 100% owned Lake Giles Iron Project (”the Project”) in Western Australia. 

Highlights: 

·       Macarthur Minerals files NI43-101 Technical Report for the magnetite Mineral Resource at its Lake Giles Iron Project

·       Measured Mineral Resources totaling 53.9 Mt and Indicated Mineral Resources of 218.7 Mt

·       Inferred Mineral Resource of 997.0 Mt

·       Macarthur now has sufficient Mineral Resources in the appropriate categories to progress its Feasibility Study. 

The independent technical report, entitled “NI43-101 Technical Report, Magnetite Mineral Resource, Lake Giles Magnetite Project, Western Australia (“2020 Technical Report”) with an issue date of September 29, 2020 was prepared in accordance with the requirements of National Instrument 43-101 (“NI 43-101”).  The 2020 Technical Report is filed under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) website at www.sedar.com (filing date: October 1, 2020) and on the Company’s website at www.macarthurminerals.com . 

The Technical Report was completed by independent geological consultants CSA Global Pty Ltd (CSA Global). 

The previous Mineral Resource estimates presented to the market between 2009 and 2019 consisted entirely of Inferred resources, including 710 million tonnes (“Mt”) at the Moonshine deposits. During 2019 the Company completed a program of infill drilling across some of the Moonshine deposit to upgrade the Mineral Resource category to include Indicated and Measured resources.  The Mineral Resource upgrade has delivered sufficient resources in the appropriate categories to underpin the current Lake Giles Iron Project Feasibility Study. 

The updated Mineral Resource estimates incorporate the recent drill assays and has resulted in an increase in the size of the Moonshine mineral resources, including resource category upgrades to now include Measured and Indicated resources. Approximately 30% of the Moonshine resource is now classified as Indicated with approximately 7.5% classified in the Measured category. 

Highlights of Mineral Resource estimates: 

·       Measured resources of 53.9 Mt at 30.8% Fe head grade and 66.0% Fe DTR concentrate grade

·       Indicated resources of 218.7 Mt at 27.5% Fe head grade and 66.1% Fe DTR concentrate grade

·       Inferred resources of 997.0 Mt at 28.4% Fe head grade and 64.6% Fe DTR concentrate grade 

The full release can be found at: https://money.tmx.com/en/quote/MMS/news/8689535428398925/Technical_Report_for_Lake_Giles_Magnetite_Mineral_Resource 

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 2% 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.

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) 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-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Esperance Bulk Port Rail Unloading Solution Advances with RCR Mining Technologies.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has provided an update on its continued progress towards completing its route to market for the flagship Moonshine magnetite deposits at Lake Giles.  Following the recent engagement of RCR Mining Technologies Pty Ltd (“RCR MT”) to provide a conceptual engineering and design solution for rail transport and unloading infrastructure of magnetite concentrate at the Port of Esperance, Macarthur and RCR MT completed a site visit to the port on 27 August 2020 in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.

Highlights:

  • Macarthur and RCR Mining Technologies (“RCR MT”) have completed a site visit to the Port of Esperance in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.
  • Subject to approval by Southern Ports Authority, RCR MT’s cutting edge ‘Helix Dumper Wagon’ (“Helix Dumper”) transport solution for Lake Giles Iron Project can be developed within the Port envelope at Esperance.
  • Macarthur’s market-lead proposal for the development of the Helix Dumper solution will allow optimisation of existing Berth 3 ship-loader capacity at the Port of Esperance, enhancing its current performance from the current 2,220tph throughput to over 4,500tph capacity.
  • RCR MT expects to complete its engineering design report on the Port of Esperance unloading infrastructure within weeks, creating a pathway (in collaboration with Southern Ports Authority and Arc Infrastructure) to select a preferred development option for the new rail unloading infrastructure system.
  • Reaching agreement on a preferred development option for the Helix Dumper and connected conveyor path will deliver the next material piece of the rapidly emerging ‘route to market’ solution for Macarthur’s Lake Giles Iron Project.

Following completion of the engineering design report by RCR MT in coming weeks, Macarthur will be engaging with key stakeholders to endeavour to agree a preferred option for the development of unloading infrastructure at the Port.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7383599247169787&qm_symbol=MMS

Macarthur President and Executive Chairman Cameron McCall commented: “Macarthur is continuing to forge ahead with a systematic approach to delivering every component of the infrastructure pathway that is necessary to bring Macarthur’s Lake Giles Iron Project into production and to see the first ore go over the ship’s rail.  The Board is confident that it has a Management team with the unique commercial and technical capabilities to get this over the line and take advantage of the current strength and resilience of the global iron ore market. 

There is a very real concerted energy building around the Lake Giles Iron Project and the Company is exceptionally excited to be working collaboratively with the great teams at Southern Ports Authority, RCR MT, Arc Infrastructure and above rail service providers to introduce cutting edge ‘Helix Dumper’ technology to the Port of Esperance.

With the added capacity that the ‘Helix Dumper’ technology can deliver, the Company considers that there is a real potential to facilitate increased trade through the Port of Esperance and to contribute to the future economic growth and job security for workers at the Port and in the Goldfields region.  Macarthur welcomes the opportunity to be part of that story and to contribute a positive legacy for the State of Western Australia.” 

Cadence Minerals Holding in Macarthur

Cadence holds approximately 2.2% 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.

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

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