Member Info for 165zephyr

Here's some photos of progress.

https://x.com/CadenceMinerals/status/2074852920621769029

Part of the issue is that, in his recent interviews, the CEO clearly indicated that shareholders are protected from future dilution, given that the Azteca project is fully funded through proceeds provided by the offtake partner. Surely this has contributed to the recent interest in the company, and the subsequent share accumulation. Therefore, the sell-off comes as no surprise.

It's unclear what this raise is for and, given that both Azteca and Sonora are "self-funding", it can only be for one of two things:

1. Operating costs (AKA the board's salaries)

2. New project

Either way, they should have been transparent about this.

It's also disappointing to see the board ignoring shareholder value creation at this stage, as I could sense a real turning point. Anyhow, I have now voted according to what I see fit.

It's a ....

YES

NO

YES

NO

NO

... from me.

Share raise and disapplication of pre-emptive rights.

https://www.cadenceminerals.com/wp-content/uploads/2026/06/Cadence-Minerals-2026-AGM-Circular.pdf

Resolution 1: Receive and consider accounts

Resolution 2: Re-appointment of director

Resolution 3: Re-appointment of auditor

Resolution 4: Directors’ authority to allot shares

Resolution 5: Disapplication of pre-emption rights

Hope this helps any new investors:

Amapa Project NPV = $1.9B

NPV in GBP = £1.4B

NPV attributed to KDNC (36.2%) = £509M

KDNC Share value (427.6M shares in issue) = £1.19

Current Share value = 6p (i.e. less than 5% of NPV)

I've said it before, but this project is as de-risked as mining projects can be.

Now the question is, what is a fair discount to the share value based on where the project currently is? And the above doesn't even consider other investments or the value of Sonora. Seems like a no-brainer to me.

Great find Jimb, the news does look very credible.

Having said that, I also find it a bit odd (to say the least !) that KDNC didn't issue an RNS on Friday. Granted that Friday was a public holiday in most places relevant to the companies/individuals involved (Brazil, Singapore etc.), it wasn't a holiday here in the UK and the RNS should/could have been issued. The only explanation/excuse I can find is that KDNC hadn't been "officially" informed by Friday COB (UK time).

Either way, I will gladly ignore this detail in the hope tomorrow is "the day" !

Best of luck to all other LTHs !

Based on the NAV of $139m, along with the fact that this is as de-risked as these sorts of projects come (it's almost non-AIM'ish now), this should easily be in the region of 25p.

Need to break the resistance point of 4.5p, which should happen soon. This really is looking quite positive now after all those years of waiting.

GLA.

The delivery aesthetics of the presentation could have been better e.g. when he kept saying "as you would know" which implies the audience would all be existing shareholders.

But on the positive side I liked the fact he didn't give out any valuations etc., and rightly so, as you would want to keep your negotiation options wide open. Think his maturity has turned a corner (certainly after the BCN debacle!).

For those of you who had been asking for this - questions can be submitted in advance.

https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260109:nRSI3538Oa&default-theme=true

Frankly, was todays RNS even "RNS'able"? Always thought RNS' are used to inform the market of "material" updates - neither of today's news hit that threshold.

Okay granted, some of Cadence's recent "material" updates haven't had the desired SP effect, but today's update sounded pretty desperate to me ...

@jimb - the works for the licences will require 2 months, with a further 2 months for the approvals etc. - so 4 months at the earliest.

=========================================

The Company and its joint venture partners will now focus on completing the final items required for the mine installation licence, including the supplementary archaeological survey and detailed engineering for the water-reticulation and sewage-treatment systems. These works are expected to conclude in approximately two months, after which the application will move into the formal federal and state environmental approval processes, currently expected to take a further two months.

Same here @Bannor - its been a very muted response to such great news. Even the assay results reaction was much better than this.

Regardless, why still the secrecy with the identity of the offtaker - are they that embarrassing to have as a partner?!

Https://www.proactiveinvestors.co.uk/companies/news/1083484/cadence-minerals-shares-rise-as-it-seals-offtake-deal-1083484.html

Https://www.bbc.co.uk/worklife/article/20251104-the-story-behind-the-scramble-for-greenlands-rare-earths

Seemed more like a "first come first served" WRAP offer and I wonder if they could have removed the £200K limit looking at demand.

Either way, great to see such high demand and the £200K limit breached well within 2 days.

GLA!

TBF, its not the BODs fault as to how some of these platforms have their custodial models set out. Shocking to see that some big names (e.g. IG) do not honor retail offers.

The BOD did say they will extend to existing shareholders, and they have !

Seems IG are unable to honor the retail offer.

Retail offer now available via II (Interactive Investor) as a corporate action. Offer is open ended with no association to existing shareholding i.e. subscribe to as much as you like but the actual number of shares allocated will depend upon demand.

Indeed, great performance today with the best trading day in terms of volume in the last 5 years (since June 2020 to be precise). Despite dilution, the market reaction proves the share price has further to run as its closed today within 8% of the previous days close - that shows some confidence !

As it currently stands, shares offered under the retail offer stand to profit a nice 20% --- dilution this time feels very different to dilutions over the past decade.

Good luck y'all !

Rough calcs suggest the retail offer would be somewhere in the region of 1 new share at 3p for every 50 KDNC shares held.