Macarthur Bolsters Feasibility Study Team

RNS Number : 1844T

Cadence Minerals PLC

23 March 2021

 

Cadence Minerals Plc

("Cadence Minerals", "Cadence")

Macarthur Minerals (TSX-V: MMS) (ASX: MIO) bolsters team with world-class technical appointments to enhance delivery of Lake Giles Feasibility Study Update.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the "Company" or "Macarthur") has appointed two leading experts to its owners' team, to enhance the delivery of the Feasibility Study for its high-grade magnetite Lake Giles Iron Project in Western Australia.

Highlights of Appointments

· Mineral Processing Engineer - Dr Richard Peck: Highly regarded Mineral Processing Engineer, Dr Richard Peck appointed to provide technical minerals processing support for Macarthur's owners' team.

· Mining Engineer - Mr Bernard Holtshousen: Globally recognized and experienced Mining Engineer and corporate executive, Mr Bernard Holtshousen appointed to provide technical and practical support to optimise the Company's mining and development approach at Lake Giles.

· Appointments will provide enhanced rigour to the study process and to ensure that the Feasibility Study is delivered within expected timeframes.

The full announcement can be viewed here: https://macarthurminerals.com/wp-content/uploads/2021/03/NR-FS-Update-Technical-appt_-23-March-2021.pdf

Commenting on the new appointments, Andrew Bruton, Chief Executive Officer of Macarthur

Minerals stated: "Dr Peck and Mr Holtshousen are highly experienced in their respective fields of minerals processing   and mine engineering. They bring enviable experience on a global scale to Macarthur, and the   appointments are another smart step to ensure that Macarthur's owners' team is appropriately   supported with the disciplines necessary to deliver a robust study that is capable of withstanding the   rigour of technical and financial due diligence as we move through project financing.

The most important factor in assembling the Macarthur owners' team is to ensure that it includes

experienced professionals who have overseen successful mining and magnetite processing operations.

The deliberate decision to combine the expertise of Dr Peck and Mr Holtshousen is aimed at ensuring

that the Macarthur owners' team can facilitate responsible strategies and improve the efficiency of

operations in the magnetite mining and processing at Lake Giles so that Management can aim to deliver the best economic value for the Company's assets for the benefit of its shareholders.

Macarthur will continue to build a world class project delivery team that is required to successfully bring the Lake Giles Iron Project out of the ground. We welcome Richard and Bernard to the Macarthur team."

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   [phone] Andrew Suckling Kiran Morzaria WH Ireland Limited (NOMAD & Broker)   [phone] James Joyce James Sinclair-Ford Novum Securities Limited (Joint Broker)   [phone] 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.

 

END

 

 

MSCUOVKRAKUOURR