RE: RNS14 Jan 2022 07:04
Cadence CEO, Kiran Morzaria, commented: "On behalf of the board, I am pleased to advise shareholders that the filing of the contractual and regulatory documentation pertaining to the Amapa bank settlement agreement is proceeding as planned. Work has already started on the next investment phase to take Cadence up to 27% ownership of Amapa.
"I would also like to take this opportunity to welcome Tony Cau to the Amapa Project. Tony's experience will be invaluable to us as Amapa undergoes recommissioning, and he joins the asset at an exciting phase of its development."
"In regard to the Litchfield and Picasso option with Castillo, given the recent increases in lithium compound pricing to over US$40,000 per tonne of battery grade lithium carbonate, and the pending analysis of the assay results, we see the unwinding of this option agreement as an opportunity for Cadence to extract a higher valuation for these prospective assets"