Cadence Minerals Plc

EverGreen Lithium has discovered spodumene at the Bynoe Project, where Cadence Minerals holds an 8.74% stake! 🌟 Multiple intersections confirmed#CadenceMinerals #Spodumene #BynoeProject 🔋🔍 https://ow.ly/IlPs50TVhfO Highlights: • Initial results from the ongoing AC drilling program along Line 6 on the western flank have confirmed multiple intersections of spodumene-bearing pegmatites • The pegmatite intersections have initially been confirmed in four drill holes • Initial interpretation indicates multiple stacked, shallow-dipping pegmatites, like lithium-bearing systems like Hang Gong and Lees Booth

Cadence's investment in EverGreen is making significant progress in developing the Byone Project. ✅The second phase of near-surface drilling at Bynoe targeted two LCT pegmatite high-potential zones and an area of gold-arsenic anomalism. ✅Mapping has identified prospective areas for air-core drilling targeting LCT pegmatites in the west and north-west of the lease. ✅Arsenic anomalism in soil sampling results and geological mapping has highlighted an extensive zone with the potential for gold mineralization. #KDNC #Cadence #Lithium #Gold📈 Full announcement - https://ow.ly/IZXa50TNlmI

#KDNC Cadence interims for the 6 months ended 30 June 2024 Amapá Project highlights during the period & post-period end: ✅ The completion of optimisation studies resulting in a 20% increase of Post-tax Net Present Value (“NPV”) to US$1.14 billion, with profit after tax of US$3.14 billion over the Life of Mine ✅ A 10% increase in average production after ramp-up to 5.82 million dry metric tonnes per annum (“Mtpa”) of Fe concentrate, consisting of 4.81 Mtpa at 65.4% Fe and 1.01 Mtpa at 62% Fe concentrate. ✅ A 6% decrease in Free on Board C1 Cash Costs to US$33.5/dry metric tonne. ✅ The submission of required environmental studies and applications for the grant of the installation licenses at the Amapá Project. ✅ The completion of the design of a 67% #ironore concentrate flow sheet, with testing of the design currently underway. Plus we see positive indications in the #lithium market, with market commentators forecasting improvements in 2025 and supply shortfalls in the 2030s read: https://ow.ly/M9KO50TwRyc

We recently updated the long-term mine plan of the Amapa Iron Ore Project. But why did we do this given we already had a life of mine plan (“LOM”) published in 2023? The answer is that we have updated the long-term mine plan for the Amapa Iron Ore Project to accommodate changes in the mineral process flow sheet. The updated flow sheet increased the material needed for the plant and raised production levels, requiring us to rearrange the mining sequence for sustainable and economically viable iron extraction throughout the project's lifespan. The pre-feasibility study involved evaluating reserves, mine design, life of mine planning, production scheduling, mining methods, treatment routes, cut-off factors, recoveries, dilution, and losses in both mining and treatment processes. The animation below is a simplified mining sequence of the minerals deposit. #AmapaIronOre #MinePlanning #ProductionScheduling. (N.B. Dates are for illustrative purposes only)

The iron ore industry is changing due to the expansion of carbon-neutral steelmaking feedstocks. Pricing is expected to put a premium on specialised ores. The steel industry's move to DRI-EAF is estimated to require an additional 348(Mtpa) of high-purity iron by 2035.

#KDNC - Cadence is pleased to report the progress of the environmental licensing and the testing of the 67% 'Green Iron' processing flow sheet at the Amapá Iron Ore Project ✅ Installation Licences for Amapá mine and railway remain on schedule to be granted this year. ✅ License application for the port was submitted in September and is also scheduled for a grant this year. ✅ The test work for the 67% iron flow sheet is due for completion in Q4 this year. ✅ The Amapá Project is actively discussing the equity portion of project financing to complement the existing debt financing MOU. CEO Kiran Morzaria commented, "It's great to see the continued progress at Amapá. The Project has consistently delivered all the required environmental studies and applications either on time or ahead of schedule. Based on the positive feedback from the local government, we understand that all necessary permits will be granted before the year's end. Additionally, we are actively advancing the development of a 67% "green iron" product and securing equity financing for the Project." Read: https://ow.ly/CGzO50ToPIP

#KDNC - Cadence is pleased to confirm that it has posted the notice of the 2024 AGM and forms of proxy to registered shareholders. The AGM will be held at 10 am 18 October 2024 at the offices of Hill Dickinson LLP, The Broadgate Tower, 8th Floor, 20 Primrose Street, London, EC2A 2EW. Shareholders are strongly encouraged to exercise their AGM voting rights by submitting the proxy form attached with the AGM notice. The deadline for submission of proxies to the Company is 10 am on 16 October 2024 or 48 hours before any adjourned meeting. The Circular and notice of AGM is available at: https://ow.ly/ErwE50ToeCL  Read: https://ow.ly/a23y50ToeCK

#KDNC - Investee co European Metals #EMH has advised that the timeline for the completion of the DFS & therefore construction of the Cinovec #lithium processing plant continue to be worked on. Given the change to the location of the lithium processing plant from Dukla to Prunéřov, additional geotechnical work is currently underway to confirm the optimal construction method and layout at the new site. EMH will provide a further update to the market once it has received a revised timeline for completion of the DFS. The Project team continues to progress several DFS-related programs on the Front-End Comminution and Beneficiation circuit and Lithium Chemical Plant circuit to improve the overall flowsheet which are expected to positively impact Project economics. Cadence Minerals holds approximately 2.52% per cent of the equity in European Metals Holdings https://lnkd.in/etsQPHyr

#KDNC - Cadence investee co Evergreen Lithium (ASX: EG1) intercepts pegmatites at Bynoe Project, 50km south of Darwin and directly east of Core Lithium’s Finniss Mine in Australia’s Northern Territory. ✅ Initial aircore drilling intercepts pegmatitic intrusions in multiple locations. ✅ Drill samples at Lunchbox & Frogmouth prospects has identified pegmatites close to surface ✅ Cadence has an 8.74% equity stake Evergreen Exploration Manager Andrew Harwood commented: “Intercepting a blind pegmatite that is not outcropping on your first day of drilling shows that we are at the start of something good. Achieving this early proof of concept gives us confidence in our approach for EverGreen Lithium’s ongoing exploration programs. The field team and drilling contractors have done a great job getting to this point and the program will move forward quickly from here..." #lithium Read: https://ow.ly/7WWG50SGTm6

#KDNC announces its Nominated Adviser and Broker has changed to Zeus Capital Limited with immediate effect.  This change follows completion of the acquisition by Zeus Capital Limited of the WH Ireland Capital Markets Division (from WH Ireland Limited), announced earlier today. https://ow.ly/GWju50SBarr