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Https://www.marketwatch.com/story/cadence-minerals-shares-soar-on-preliminary-deal-to-advance-iron-ore-project-in-brazil-87ab2a2b
By Christian Moess Laursen
Shares in Cadence Minerals surged 29% after it said its joint-venture company Pedra and Branca Alliance has signed a preliminary deal with Sinoma Tianjin Cement Industry Design & Research Institute to advance the development of the iron ore project in Brazil.
At 0913 GMT, shares are up 1.40 pence at 6.25 pence.
The mining company said Monday that Sinoma Tianjin Cement Industry Design & Research Institute, or Sinoma TCIDR, will help secure financing for the construction and development of the project.
In addition, the wholly-owned subsidiary of Sinoma International Engineering will provide a final proposal to complete the definitive feasibility study, and will submit an engineering procurement and construction contract for the Amapa project when the study is complete.
A definitive feasibility study is the final piece of the financing puzzle for mining companies, and its results serve as the basis for a final decision.
Pedra and Branca Alliance has entered the preliminary deal with its wholly-owned subsidiary DEV Mineracao, a company that owns and operates the Brazilian iron ore project, in which Cadence has as 32.6% stake.
"From a strategic standpoint, for Cadence and Pedra and Branca Alliance, the memorandum of understanding with Sinoma TCIDR represents a potential one-stop shop solution, coupling our requirements for final project funding with engineering, construction and technical expertise," Chief Executive Kiran Morzaria said.
WHI View: A competitive DFS and funding package for Amapá is a great objective for Cadence. This is a big build and an experienced and high-profile company like TCIDR will bring the skills and contacts which could make the difference in our opinion. We continue to see fair value of 71p/sh
Simon’s = SINOMA (auto correct)
https://www.google.com/finance/quote/600970:SHA
AIM All-Share index is pretty much at Covid lows now, would think we are at or near the bottom here.
https://www.google.com/finance/quote/AXX:INDEXFTSE?window=5Y
There have been some recent arbitration wins for mining companies, know what you own and what it's worth at the end of the day regardless of the market fluctuations.
https://themarketherald.com.au/indiana-resources-asxida-wins-160m-from-tanzania-in-world-bank-dispute-2023-07-18/
https://winshear.com/news/winshear-and-united-republic-of-tanzania-successfully-conclude-settlement-agreement/
Getting a Strategic partner / JV partner "progressing well" (2 weeks ago)
https://zakstraderscafe.com/interview-kiran-morzaria-ceo-cadence-minerals/7836/
My take is that interest rates are the main problem right now, for all companies but especially AIM co's, if we see them coming down then things can rally (consumers can borrow cheaper and have more disposable income, investors have no alternative to get a return aka TINA which pushed stocks higher over the past 15 years.) , commodities in theory should do well during periods of inflation.
It's all relative so expect things to move in tandem when the recovery kicks in then people will pile in due to FOMO.
Prices rebounding strongly
https://x.com/rodneyhooper13/status/1712648970839929059