Cadence Minerals PLC Macarthur Gold & Copper Asset ASX listing Update (4610H)
03 Agosto 2021 - 9:59AM
UK Regulatory
TIDMKDNC
RNS Number : 4610H
Cadence Minerals PLC
03 August 2021
Cadence Minerals Plc
("Cadence Minerals", "Cadence")
Macarthur Minerals (TSX-V: MMS, ASX: MIO) says Perth based CPS
Capital Group to manage ASX listing of Gold and Copper Assets.
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 CPS Corporate Advisors ("CPS") has
been appointed as the lead Broker for the proposed spin out of the
Company's Pilbara gold, copper and lithium tenements ("Pilbara
Assets").
The Company's wholly owned subsidiary Macarthur Lithium Pty Ltd,
which holds the Company's Pilbara Assets will be renamed Infinity
Mining Limited ("Infinity") and converted to a public company
(subject to finalisation of ASIC approvals). Under the agreement
with CPS, Infinity proposes to undertake an initial public offering
(IPO) and make application for listing on the Australian Securities
Exchange (ASX) in the coming months. Under an agreement with Zanil
Pty Ltd, Infinity retains the rights to acquire additional assets
in the Central Goldfields upon completing the listing process.
Infinity Exploration Program
Infinity intends to commence a programme of work that is focused
on fast tracking drill targets to support an early 2022 drilling
campaign across multiple gold and copper targets defined by
Macarthur's previous exploration at the Hillside Gold and Copper
Project near Marble Bar in the Pilbara region.
Infinity has completed its due diligence on 10 historic gold and
copper tenements in the Leonora area of the Central Goldfields
region of Western Australia, which Zanil Pty Ltd ("Zanil") is
authorised to deal with on behalf of the tenement holders ("Central
Goldfields Assets"). An independent technical report on the Pilbara
Assets and the Central Goldfields Assets has been compiled to
support a transaction, and Infinity and Zanil are finalising the
terms of a sale and purchase agreement for the Central Goldfield
Assets. The Central Goldfields Assets will be vended into Infinity
following the listing on ASX.
The Company will provide further details with respect to the
spin out transaction and IPO listing in a subsequent news
release.
Joe Phillips, Managing Director of Macarthur Minerals commented:
"The appointment of CPS Capital Group will trigger a Seed funding
round during August 2021, to support the IPO listing and advance
the exploration programs for the Hillside Project and three key
areas around Leonora that host historic drilling results. This 2021
program is designed to build the platform for an early 2022 Pilbara
exploration campaign. The Company will provide further details with
respect to the seed funding round and progress on the spin-out
transaction and IPO listing in a subsequent news release."
Jason Peterson Managing Director / Head of Corporate, CPS
Capital Group commented: "CPS is excited to be working again with
the Board of Macarthur to achieve the spin-out listing, of the non-
Iron Ore assets of Macarthur, into the new entity to be IPO'ed,
Infinity Mining Limited. CPS has had a very good working
relationship with Macarthur as a supporter of Macarthur and
introducing Macarthur to investors via our client base. We look
forward to achieving the same goals with Infinity with this highly
professional team.
Link here for the full announcement:
https://finance.yahoo.com/news/perth-based-cps-capital-group-120000190.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
identi ed 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 re ect
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.
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August 03, 2021 10:59 ET (14:59 GMT)
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