Update - European Metals Holdings

RNS Number : 7588Z

Cadence Minerals PLC

19 December 2017

 

19 December 2017

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

European Metals Holdings  

Further Progress Towards Mining Licence; Roast Optimisation

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to report that European Metals Holdings Limited ("European Metals") (ASX & AIM: EMH) has announced that the Cinovec North West Resource has also been added to the Czech State resource register in addition to the Cinovec South Resource, which was added to the register earlier this year. Additionally, recent optimisation test work has demonstrated the ability to reduce roast temperatures and duration which can result in significant cost savings both in CAPEX and OPEX.

Cadence has a 20.4% equity stake in European Metals.

The full release can be found at: http://www.asx.com.au/asxpdf/20171219/pdf/43q8y2chy64lhl.pdf

Kiran Morzaria, Chief Executive Officer of Cadence, commented:

"We are pleased to see European Metals move forward within the Czech regulatory framework as it progresses towards obtaining the required mining permits for its Cinovec projects."

- Ends -

For further information, please contact.
Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)	[phone]
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker)	[phone]
Neil Passmore
Giles Fitzpatrick
Square1 Consulting	[phone]
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 £25 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.

 

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