Update - European Metals Holdings

RNS Number : 2586J

Cadence Minerals PLC

28 March 2018

 

Cadence Minerals Plc

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

European Metals Holdings  

Lithium Recoveries Improved to 95% at Cinovec Lithium-Tin Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to report that European Metals Holdings Limited ("European Metals") (ASX & AIM: EMH) has updated on preliminary results recently received from its ongoing metallurgical optimisation and ore variability testwork programme.

This testwork programme is being conducted in support of the development of the Cinovec Lithium-Tin Project.

HIGHLIGHTS

· Lithium leach recoveries of 94-95% achieved from recent laboratory scale roasting and water leaching tests 

· Confirmation that a modest increase in roasting temperature significantly increases lithium recovery 

· Confirmation that the substitution of the more cost effective reagent, limestone in place of lime did not reduce lithium recovery.

Recent metallurgical testwork has seen further roast recovery improvements on ore sourced from core taken from the area that is intended to be mined and processed in the first years of the project.

Subsequently testwork was completed whereby the more cost effective reagent limestone was substituted for lime into the roasting feed mix.  A lithium recovery rate of 94.8% was achieved from this test. This finding will support the achievement of significant cost savings in this part of the flowsheet.

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/13583981.html

Kiran Morzaria, Chief Executive Officer of Cadence, commented:

"We are pleased to see these test results on improved lithium recoveries, which will enhance the economics of European Metals' Cinovec Lithium-Tin project."

- 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 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.

 

END

 

 

MSCSEFFFAFASESD