Business
Annual Results for the year ended 31 December 2023
Annual Results for the year ended 31 December 2023.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n\n \nCadence Minerals Plc\n \n(\"Cadence Minerals\", \"Cadence\", or \"the Company\")\n \nAnnual Results for the year ended 31 December 2023\nCadence Minerals (AIM/NEX: KDNC) is pleased to announce its final results for the year ending 31 December 2023. The full Annual Report and Audited Financial Statements will be available on the Company's website at https://www.cadenceminerals.com/ and posted to shareholders by 30 June 2024.\nChairman's Statement\n \nI am pleased to present the Company's Annual Report and Audited Financial Statements for the year ended 31 December 2023.\n \nOn behalf of the Cadence Minerals board and management, I want to express my deep gratitude to all our consultants, advisors, service providers, and especially our shareholders. Your support throughout this challenging year has been invaluable to us.\n \nSince our company's inception, your board has strived to build a portfolio with enough balance and diversity to weather and thrive in challenging market conditions.\n \nHowever, the year to December 2023 provided Cadence with a particularly unique set of challenges due to severe price movements in many of the underlying commodities we are focused on as a Company. More specifically, we have seen adverse price movements in lithium, rare earths, and iron ore beyond most analyst expectations and fundamental predictions.\n \nCadence has always taken a long-term view of prices, and our models always suggested such dramatic swings would reverse. However, this has not stopped severe and sudden pressure on our share price, coupled with an impact on our ability to raise capital in constrained markets. These factors have weighed heavily on our valuation as a Company during the period in question, and both the board and I are incredibly frustrated that the potential of our portfolio is in no way reflected in our share price performance.\n \nChallenging conditions remain across the commodities and resources space. But we are not deterred. We see the potential for significant improvements in the underlying commodities and our key investments and are determined to see this potential translate into a higher share price.\n \nOn a more optimistic note, analysts continue to see constraints to supply and continued demand from an ever-...