The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Shareholders and investors are invited to submit their questions to Katrina Perez at Vox Markets via her email at kperez@**********.co.uk. The questions should arrive no later than 6 pm on Wednesday, 29 June 2022. Any that arrive after the deadline will not be included in the Q&A.
v o x markets
– Sale of Lithium Technologies and Lithium Supplies & Amapa project update Market Cap £18.6m Share Price 10.8p Cadence reports today that it has completed the sale of its 31.5% stake in in Lithium Technologies and Lithium Supplies (LT &LS) to Evergreen PTY Ltd; an unlisted Australian company which is intending to list on the Australian stock exchange. The deal: Cadence, and all LT and LS shareholders, have completed the sale of 100% of LT and LS for up to A$21.1m (£12.1m); Cadence, which owned 31.5% of LT and LS, has received A$3.2m (£1.8m) in Evergreen shares; subject to Evergreen achieving performance benchmarks Cadence would receive a total consideration of A$6.6m (£3.8m) and; Evergreen will spend a minimum of A$4m over the next three years on the exploration of the prospective Litchfield lithium prospect in Northern Australia. Based on the current expected share price of Evergreen, the initial profits on the sale of the equity stake in LT and LS is £1.0m, with the potential for this to increase to £3.0m should the performance milestones be achieved. At the Amapa iron ore project in Brazil, Cadence is prioritizing its Prefeasibility Study (PFS) with all significant contractors on site last month. Cadence expects firstly to publish a maiden reserve followed by the PFS. In addition, a heavy focus has been applied to the relevant environmental permitting, compliance with Brazilian legislation in relation to its Tailing Storage Facilities and implementing the policies, structures and controls required for a new developing company. Cadence is leaving nothing to chance in our opinion and applying solid principles to redeveloping the Amapa project. After the recent sale of its stake in some licences at Yangibana REE project to the operator Hastings Technologies (23.06.2022) Cadence continues to simplify its business. Today’s news turns an equity stake in a business which needed funding to one where funding should be available via a listing, and crucially it maintains an important stake in Australia’s booming spodumene lithium pegmatite sector. With news flow expected from Amapa shortly on development scale, economics and timing, Cadence is beginning to take control of its own destiny
DD,. If I was as disillusioned as Mike and others are I'd sell and move on. I still think that KDNcCis very good value and is a potential 10 bagger.
Lenigas ramped KDNC when he was chairman but the present BOD appear honest to me. I am sure mistakes have been made- the talk of a takeover of BCN was one but Amapa in particular is a winner. I do think too much is left to KM and the chairman should make the occasional presentation
It has long been our view that the stakes held in some Yangibana licenses had value and that at some point Hastings would want to “tidy up” the ownership structure. Today's announcement is a positive outcome for Cadence in our view. It brings forward value from Yangibana to Cadence and provides Cadence with ongoing exposure to a rapidly developing market of non-Chinese REE producers via its equity stake.
Questionds by email below.
CEO Kiran Morzaria will be recording an investor presentation and Q&A with Vox Markets, which will be released on Friday, 1 July 2022.
Shareholders and investors are invited to submit their questions to Katrina Perez at Vox Markets via her email at kperez@**********.co.uk. The questions should arrive no later than 6 pm on Wednesday, 29 June 2022. Any that arrive after the deadline will not be included in the Q&A.
Mike. Speed reading is a waste of time. Sit down for half a day.
Link below might help you. ********* try in V O X markets
https://www.**********.co.uk/listings/LON/KDNC
FAT FINGER
Email from KDNC
Last year’s Annual Report was published with the FY results on June 30th.
We cannot say exactly when at this point, but it would be reasonable to assume the results and report will be made available shortly.