'With all regulatory approvals now finalised, Cadence will now acquire further 20% in of LT & LS increasing its equity stake in both to 24%. LT &LS own the Australian lithium assets. As per the announcement dated 4 March 2019 Cadence will issue 373,544,298 new ordinary shares to the founding shareholders of LT & LS.'
Cadence Minerals (KDNC) – Macarthur Minerals (TSX-V: MMS) Progress Towards Rail Haulage Agreement. By Harry Dacres-Dixon in Cadence Minerals (KDNC) on 8th April 2019. Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) that it has partnered with Australian freight haulage company Aurizon (“Aurizon”) to finalise a rail haulage contract for its Lake Giles Moonshine Magnetite Project (“Project”) in the Yilgarn region of Western Australia. This news follows the Company’s recent announcement that it has signed a binding Life-of-Mine Off-Take Agreement with Glencore International A.G. for the sale of iron ore to be produced from the Project from the commencement of commercial production.
Macarthur has entered into a Negotiation Agreement with Aurizon to provide above rail haulage services including the supply of rolling stock for the purpose of transporting iron ore from the Project to the Port of Esperance. Aurizon already has rolling stock available that was previously used by other iron ore operators in the region including 325 wagons. The rolling stock is fit for purpose and compatible with rail unloading infrastructure at the Port of Esperance. This represents a key component of the logistics solution for the Project.
Aurizon was selected as the preferred operator based on its superior supply chain experience, safety and operating capability and its expertise in bulk rail freight that includes the transport of over 40 million tonnes of bulk freight and iron ore throughout Australia. Aurizon has significant rail marshalling, maintenance and traincrew facilities at the Port of Esperance, a legacy investment from its previous Cliffs iron ore haulage contract. The open access rail network owned by Arc Infrastructure has available capacity and is accessible within 90 km of the Project and runs directly to the Port of Esperance.
Cadence holds approximately 10% 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.
Cadence Minerals Chairman Andrew Suckling commented: “The partnership with Aurizon to advance Macarthur’s rail haulage requirements represents an important step forward for the Lake Giles Moonshine Magnetite Project take off agreement recently announced between Macarthur and Glencore.”
“Equally significant will be the potential benefits of this agreement to the economies of the local mining communities surrounding the Moonshine Magnetite Project and those of the Port of Esperance community of Western Australia. As stated by Macarthur, these areas have recently suffered from a significant decline in iron ore export.”
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Macarthur Minerals has just released more very significant news that relates to its Moonshine Iron Project in Australia - deal with massive iron ore rail operator Aurizon Rail . web.tmxmoney.com/article.php?ne… @macminltd @CamMcCall $MMS.V
RE: Reminder of JV with BCN Mineral8 Apr 2019 09:57
'REM's interest in the overall Sonora Lithium Project consist of a 11.27% direct interest in Bacanora, a 30% in the Bacanora subsidiary that owns the Concessions (Agreement 1) and a 10% in the Bacanorasubsidiary that owns the Megalit mineral concessions (Agreement 2). When aggregated the total economic interests are, 37.89% in Agreement 1 and 20.14% in Agreement 2.'
$6 billion private capital ready to invest in mining bit.ly/2I0wrg7 via @frikels And that doesn’t include the money that Macarthur Minerals plans to spend on Moonshine. @macminltd @CamMcCall $MMS.V