Yangibana Update

RNS Number : 3597B

Cadence Minerals PLC

03 April 2017

 

Cadence Minerals Plc

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

Yangibana Update

Cadence (AIM/NEX: KDNC; OTC: REMMY) is pleased to report that Hastings Technology Metals Limited ("Hastings"), REM's 70% joint venture partner in the Yangibana Neodymium Project ("Yangibana") in Western Australia, has announced that mine permitting applications for Yangibana have been lodged.

The full Hastings release is available at:

https://gallery.mailchimp.com/6cc38f730035ae0a04d99359c/files/68159242-acc8-47e8-8d80-ba61f857f797/HAS_20170322_Permitting_FINAL.pdf 

 HIGHLIGHTS

·           Environmental Impact Assessment (EIA) lodged with Western Australia (WA) Environmental Protection Authority (EPA)

·           Referable Submission lodged with Commonwealth Department of Environment and Energy

·           Preliminary Mine Development Proposal (MDP) lodged with WA Department of Mines and Petroleum (DMP)

·           Commencement of iterative reviews of the applications with EPA and DMP to map out approval timelines

Hastings is pleased to advise that it has lodged the EIA for its Yangibana Nd-Pr Rare Earths project with the EPA. A Referral Submission was also lodged with the Commonwealth Department of Environment and Energy. Under the Commonwealth and State Approval system, the EPA is the reviewing agency acting on behalf of WA and the Commonwealth.

A preliminary MDP has been lodged with the DMP. Further studies emanating from the Definitive Feasibility Study (DFS) are required to be lodged at a later time to complete the MDP for final assessment. The DFS is scheduled for completion during Q3 2017. The lodgement of the preliminary MDP is to enable the MDP to be fast tracked, pending further outstanding reports that will flow from the DFS.

An iterative review process has commenced with the EPA and DMP that will identify any areas of additional information, if required, for the relevant permitting approvals to be granted. The review process will also clarify the timeline for the approval processes.

The Yangibana Nd-Pr Rare Earths project is in the Gascoyne region of Western Australia. Hastings plans to construct a processing plant to produce a Mixed Rare Earths Carbonate product, through the process of mining, beneficiation and hydrometallurgy. On completion of the Permitting, the start-up construction phase is expected to create up to 500 jobs directly and indirectly in and around the Gascoyne region.

For further information please contact
Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)	[phone]
James Joyce
James Bavister
Square1 Consulting	[phone]
David Bick
Brian Alexander

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 £35 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

 

 

MSCGCGDSLBGBGRX