(Alliance News) - Cadence Minerals PLC said on Monday its joint venture partner at the Yangibana rare earth project in Western Australia has announced the successful completion of bulk sample testing.
Hastings Technology Metals has announced 95% recovery of ore and a 52% increase in head grade from the bulk ore sorting trial, Cadence noted.
Cadence Chief Executive Kiran Morzaria commented: "This is another key step for Yangibana, providing further ongoing validation for our investment strategy into the joint venture. We await further news with great interest."
Cadence owns 30% of the Yangibana, Yangibana North, Gossan, Hook, Kanes Gossan and Lions Ear rare earth deposit, which form part of the Yangibana rare earth deposit.
Shares in Cadence closed down 3.0% at 8.00 pence in London on Monday.
By Lucy Heming; lucyheming@alliancenews.com
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Cadence Mineral (KDNC)