Cadence Minerals PLC - the investment company - Notes the update from European Metals Holdings Ltd that it has appointed Deutsche Gesellschaft fur Wertpapieranalyse GmbH, a mining and resource focused European investment banking boutique, as its investor & corporate relations advisor in Europe. Cadence also noted that European Metals is in discussions with the Prague Stock Exchange regarding the proposed listing of its securities.
Accordingly, European Metals has arranged an interim funding facility to assist in financing these new initiatives and ongoing operations. The facility has been provided by an Australian-based investor 6466 Investments Pty Ltd and allows for a draw down of up to AUD1 million, about GBP555,000, in tranches as required over 12 months.
Cadence holds 16% of the equity in European Metals.
Cadence current stock price: 9.10 pence
Year-to-date change: up 35%
European Metals current stock price: 14.78 pence
Year-to-date change: down 4.7%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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European Metals Holdings (EMH)
Cadence Mineral (KDNC)