George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCadence Mineral Regulatory News (KDNC)

Share Price Information for Cadence Mineral (KDNC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 5.50
Bid: 5.00
Ask: 6.00
Change: -0.26 (-4.95%)
Spread: 1.00 (20.00%)
Open: 5.25
High: 4.99
Low: 4.99
Prev. Close: 5.25
KDNC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Macarthur Gold & Copper Asset ASX listing Update

3 Aug 2021 15:59

RNS Number : 4610H
Cadence Minerals PLC
03 August 2021
 

Cadence Minerals Plc

("Cadence Minerals", "Cadence")

 

Macarthur Minerals (TSX-V: MMS, ASX: MIO) says Perth based CPS Capital Group to manage ASX listing of Gold and Copper Assets.

 

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the "Company" or "Macarthur") has announced that CPS Corporate Advisors ("CPS") has been appointed as the lead Broker for the proposed spin out of the Company's Pilbara gold, copper and lithium tenements ("Pilbara Assets").

 

The Company's wholly owned subsidiary Macarthur Lithium Pty Ltd, which holds the Company's Pilbara Assets will be renamed Infinity Mining Limited ("Infinity") and converted to a public company (subject to finalisation of ASIC approvals). Under the agreement with CPS, Infinity proposes to undertake an initial public offering (IPO) and make application for listing on the Australian Securities Exchange (ASX) in the coming months. Under an agreement with Zanil Pty Ltd, Infinity retains the rights to acquire additional assets in the Central Goldfields upon completing the listing process.

 

Infinity Exploration Program

Infinity intends to commence a programme of work that is focused on fast tracking drill targets to support an early 2022 drilling campaign across multiple gold and copper targets defined by Macarthur's previous exploration at the Hillside Gold and Copper Project near Marble Bar in the Pilbara region.

 

Infinity has completed its due diligence on 10 historic gold and copper tenements in the Leonora area of the Central Goldfields region of Western Australia, which Zanil Pty Ltd ("Zanil") is authorised to deal with on behalf of the tenement holders ("Central Goldfields Assets"). An independent technical report on the Pilbara Assets and the Central Goldfields Assets has been compiled to support a transaction, and Infinity and Zanil are finalising the terms of a sale and purchase agreement for the Central Goldfield Assets. The Central Goldfields Assets will be vended into Infinity following the listing on ASX.

 

The Company will provide further details with respect to the spin out transaction and IPO listing in a subsequent news release.

 

Joe Phillips, Managing Director of Macarthur Minerals commented: "The appointment of CPS Capital Group will trigger a Seed funding round during August 2021, to support the IPO listing and advance the exploration programs for the Hillside Project and three key areas around Leonora that host historic drilling results. This 2021 program is designed to build the platform for an early 2022 Pilbara exploration campaign. The Company will provide further details with respect to the seed funding round and progress on the spin-out transaction and IPO listing in a subsequent news release."

 

Jason Peterson Managing Director / Head of Corporate, CPS Capital Group commented: "CPS is excited to be working again with the Board of Macarthur to achieve the spin-out listing, of the non- Iron Ore assets of Macarthur, into the new entity to be IPO'ed, Infinity Mining Limited. CPS has had a very good working relationship with Macarthur as a supporter of Macarthur and introducing Macarthur to investors via our client base. We look forward to achieving the same goals with Infinity with this highly professional team.

 

Link here for the full announcement: https://finance.yahoo.com/news/perth-based-cps-capital-group-120000190.html  

 

Cadence Minerals Holding in Macarthur

 

Cadence holds approximately 1% 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.

 

This news release is not for distribution to United States Services or for Dissemination in the United States. 

- Ends -

 

For further information:

Cadence Minerals plc

+44 (0) 7879 584153

Andrew Suckling

 

Kiran Morzaria

 

 

 

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

 

James Sinclair-Ford

 

 

 

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

 

 

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

  

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding Cadence Minerals Plc's future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of Cadence Minerals Plc. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. Cadence Minerals Plc cannot assure investors that actual results will be consistent with such forward-looking statements.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCUPUMARUPGGCW
Date   Source Headline
28th Mar 20249:59 amRNSUpdate on Amapá Project investment & Equity Stake
27th Mar 202410:25 amRNSEuropean Metals Holdings - Cinovec Project Update
22nd Mar 20247:00 amRNSOptimisation Study Delivers Savings at Amapá
14th Mar 20249:18 amRNSCorporate Update - Evergreen Lithium
7th Mar 20247:00 amRNSProgress at the Amapá Project & Corporate Update
29th Jan 202410:05 amRNSCorporate Update
29th Jan 20249:53 amRNSEMH - Cinovec Exploration Licenses
22nd Jan 20248:56 amRNSCorporate Update - Evergreen Lithium (ASX: EG1)
22nd Dec 20238:15 amRNSCorporate Update – European Metals Holdings
30th Nov 20239:06 amRNSCorporate Update - Evergreen Lithium
22nd Nov 202311:39 amRNSCorporate Update - Hastings Technology Metals
16th Nov 20237:00 amRNSSonora Lithium Investment Update
9th Nov 20239:12 amRNSCorporate Update - European Metals Holdings
31st Oct 20237:00 amRNSDirector Share Purchases
30th Oct 20237:00 amRNSStrategic Development and Financing
29th Sep 20239:53 amRNSInterim Results
18th Sep 20238:43 amRNSCorporate Update - Evergreen Lithium
12th Sep 20239:10 amRNSCorporate Update - Hastings Technology Metals
11th Sep 20239:44 amRNSAmapá Iron Ore Project Update
31st Aug 20237:52 amRNSSonora Lithium Investment Update
16th Aug 202311:52 amRNSResult of AGM
4th Aug 20238:55 amRNSCorporate Update - Hastings Technology Metals
25th Jul 202312:25 pmRNSNotice of AGM
21st Jul 202310:12 amRNSCorporate Update – European Metals Holdings
28th Jun 20239:11 amRNSCorporate Update - Evergreen Lithium ANT Analysis
27th Jun 20237:00 amRNSAnnual Results for the year ended 31 December 2022
13th Jun 20239:49 amRNSCorporate Update - Hastings Technology Metals
9th Jun 202311:46 amRNSUpdate EMH Land secured for Cinovec lithium plant
1st Jun 20239:01 amRNSCorporate Update - Evergreen Lithium
31st May 202312:52 pmRNSCorporate Update - Hastings Technology Metals
26th May 20232:48 pmRNSAmapa Project Update & Loan Financing
25th May 20231:43 pmRNSCorporate Update - Evergreen Lithium (ASX: EG1)
25th May 20238:42 amRNSEMH Announcement: Outstanding Lithium Recoveries
10th May 202312:12 pmRNSCorporate Update - Evergreen Lithium (ASX: EG1)
3rd May 20235:17 pmRNSCorporate Update - Hastings Technology Metals
13th Apr 20238:56 amRNSNotice of Substantial Shareholder in Evergreen
1st Mar 20237:00 amRNSCorporate Update
30th Jan 202311:47 amRNSEuropean Metals Announcement: Just Transition Fund
26th Jan 20238:26 amRNSListing of Evergreen Lithium on the ASX
25th Jan 20238:35 amRNSCompletion of Sale of Yangibana JV Interest
10th Jan 20232:05 pmRNSSecond Price Monitoring Extn
10th Jan 20232:00 pmRNSPrice Monitoring Extension
6th Jan 20237:00 amRNSDirector Share Purchases
3rd Jan 20237:00 amRNSCompletion of PFS on Amapá Iron Ore Project
30th Dec 20227:00 amRNSCorporate Update
31st Oct 20229:00 amRNSInvestment Update
7th Oct 20227:00 amRNSMineral Resource Increase & Upgrade Amapá Project
28th Sep 20227:00 amRNSInterim Results for six months ended 30 June 2022
10th Aug 20223:50 pmRNSResult of AGM
12th Jul 20227:00 amRNSDirector Share Purchases

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.