TIDMKDNC

RNS Number : 3891J

Cadence Minerals PLC

23 August 2021

Cadence Minerals Plc

("Cadence Minerals", "Cadence")

Macarthur Minerals (TSX-V: MMS, ASX: MIO) Lake Giles Feasibility Update - Feasibility Study closing in on delivery with key consultant site visit completed.

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 progress towards completion of the Feasibility Study for Macarthur's high grade magnetite Lake Giles Iron Project is continuing to build pace.

Highlights

   --      Site visit conducted by Stantec engineers and consultants at Moonshine and Moonshine North. 
   --      Geotechnical drilling programme of works to support mine planning work continues at site. 
   --      Future site visit for Port of Esperance planned shortly. 
   --      Feasibility Study remains on track for delivery.

Last week, the Company's lead consultants (Stantec) visited Moonshine and Moonshine North to undertake a formal site visit. Stantec are advising the Company on the design of the process flow sheet for the magnetite process plant, as well as on the non-process infrastructure requirements for the Company's planned high grade magnetite project in Western Australia.

The detailed visit to the project site, located approximately 115km west of Menzies in Western Australia, was conducted under guidance by Company representatives and took in all relevant aspect of the Lake Giles Iron Project that will be covered by the Feasibility Study at the proposed mine site, as well as other areas required for the development of key non-process infrastructure (including transport logistics infrastructure such as the proposed haul road and rail siding).

The previously announced geotechnical diamond core drill programme at Moonshine and Moonshine North is continuing to progress (see the 12 August 2021 announcement here ), and the Company and its study consultants will shortly be undertaking a separate site visit to the Port of Esperance to support the engineering design works for on-port infrastructure that will also inform capital and operating cost outputs for the Feasibility Study.

Andrew Bruton, CEO of Macarthur Minerals commented: "Last week's site visit is another important milestone in the development of the Feasibility Study for Macarthur. The foundational work required to underpin the delivery of the study will position Macarthur to advance with the execution phase of the project. However, engineering and design works must be married with reality, and in order to deliver truly successful outcomes for future mining operations, the teams responsible for assisting with delivery must experience and understand the landscape and environment within which the project will be developed. Properly examining and experiencing the terrain and conditions will help underpin realistic capital and operating cost assumptions and outputs for the Feasibility Study. We are very encouraged by all the work completed to date. The Study continues to progress within budget and on schedule, and we look forward to updating the market with the final results shortly. Walk with us and discover something big."

Link here for the full announcement: https://finance.yahoo.com/news/lake-giles-feasibility-study-feasibility-120000427.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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCPPUCURUPGGQP

(END) Dow Jones Newswires

August 23, 2021 02:00 ET (06:00 GMT)

Cadence Minerals (LSE:KDNC)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Cadence Minerals.
Cadence Minerals (LSE:KDNC)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Cadence Minerals.