Cadence Minerals PLC Macarthur Minerals Closer to DSO Export Pathway (6642E)
08 Julio 2021 - 08:45AM
UK Regulatory
TIDMKDNC
RNS Number : 6642E
Cadence Minerals PLC
08 July 2021
Cadence Minerals Plc
("Cadence Minerals", "Cadence")
Macarthur Minerals (TSX-V: MMS, ASX: MIO) a Step Closer to DSO
Export Pathway With Rail Deal.
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 has entered into a term sheet
with rail haulage service provider Pacific National, regarding the
transport by rail of up to 400,000 tonnes per annum of iron ore
between Kalgoorlie and Esperance. The deal will support a potential
direct shipment ore (DSO) export pathway.
The Company's plans to pursue commencement of mining, production
and export of a DSO product at Ularring Lake Giles Iron Project at
the earliest available opportunity are being advanced. With
suitable rolling stock anticipated to be available from Q1 2022,
the Company aims to complete the balance of its transport solution
as quickly as possible.
Highlights
The Term Sheet with Pacific National provides for an exclusive
negotiation period within which the parties will negotiate a rail
haulage agreement, subject to the satisfaction of certain
conditions precedent (which include Macarthur securing matching
port access and materials handling arrangements on commercially
acceptable terms) and agreement of the terms and conditions by both
parties. Any such rail haulage agreement will be for an initial
term of 24 months with options to extend for up to a further 2
years.
The potential deal will deliver an innovative solution for
access to above and below rail haulage capacity for Macarthur by
enabling the Company to leverage off existing rail paths along the
Kalgoorlie to Esperance rail line. This places Macarthur in a
unique position to access rail transport in the current market.
Paul Scurrah, Chief Executive Officer and Managing Director of
Pacific National commented: "We are delighted to be progressing
discussions with Macarthur Minerals to commence direct shipment of
ore from their Lake Giles project for export out of Esperance.
The proposed service will utilise available capacity on our
existing services operating between Esperance and Kalgoorlie and
presents an opportunity to support a greenfield mining operation
and create capacity on the network without requiring additional
paths. We look forward to supporting Macarthur Minerals in this
initial phase of the Lake Giles project and building a sustaining
partnership for the future."
Andrew Bruton, CEO of Macarthur Minerals commented: "At the top
of the current strong iron ore market, securing new export pathways
for bulk iron ore products in Western Australia remains
challenging. Despite these challenges, Macarthur has worked hard to
achieve an innovative transport solution in collaboration with the
team at Pacific National - placing us in a unique position to
access the rail network to Esperance.
The Company intends to continue to target commencement of
commercial DSO mining operations at Ularring, and this deal with
Pacific National will help lay the foundation for Macarthur's
ambitions to commence iron ore exports at the earliest available
opportunity.
Macarthur is very pleased to be partnering with Pacific
National. We look forward to updating the market on further
developments shortly."
Link here to view the announcement:
https://finance.yahoo.com/news/macarthur-step-closer-dso-export-120000259.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
MSCDZGGNFRMGMZM
(END) Dow Jones Newswires
July 08, 2021 09:45 ET (13:45 GMT)
Cadence Minerals (LSE:KDNC)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Cadence Minerals (LSE:KDNC)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024