Last checked at 6 Jun 2018 09:00
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
European Metals Holdings
Processing of 15 tonne bulk Cinovec Project lithium sample commenced
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that European Metals Holdings Limited ("European Metals") (ASX & AIM: EMH) has announced the commencement of the beneficiation process and magnetic separation of a 15 tonne bulk sample which represents the ore that will be mined in the first stages of project development.
The beneficiation and magnetic separation of a lithium rich concentrate will provide pilot plant feed for planned downstream processing through the roast, leach, purification and final product precipitation flowsheet that has been developed. It is intended to ultimately produce up to 200 kg of battery grade lithium carbonate from this material for marketing and user acceptance purposes.
The processing of the ore sample will also provide approximately 12 tonnes of non-magnetic material that will be used to confirm the flowsheet for the recovery of tin and tungsten values which are unique and important by-products from the Cinovec ore body.
Cadence has a 20.4% equity stake in European Metals.
The full release can be found at: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13668294.html
Kiran Morazia, Chief Executive Officer of Cadence Minerals, commented:
"This is yet another significant step for European Metals, which also allows the production of lithium carbonate for end-user trials and associated off-take arrangements."
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For further information, please contact. | |
Cadence Minerals plc | +44 (0) 207 440 0647 |
Andrew Suckling | |
Kiran Morzaria
| |
WH Ireland Limited (NOMAD & Broker) | +44 (0) 207 220 1666 |
James Joyce | |
James Sinclair-Ford
| |
Hannam & Partners LLP (Joint Broker) | +44 (0) 207 907 8500 |
Neil Passmore | |
Giles Fitzpatrick
| |
Square1 Consulting | +44 (0) 207 929 5599 |
David Bick |
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.
About Cadence Minerals:
Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale - upcoming supersized passenger vehicles, lorries and buses - require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over GBP20 million vested in key assets globally, Cadence is helping us reach tomorrow, today.
Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.
The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.