Business
Corporate & Investment Update
Corporate & Investment Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9108X Cadence Minerals PLC 30 November 2017 \n\nCadence Minerals Plc\n \n(\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \nCorporate & Investment Update\n \nCadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to update its shareholders in relation its strategic shift as announced 1 November 2017 and developments in its other investments.\nNew Investments\nAs outlined in Cadence's announcement on 1 November 2017, the Company was at the advanced stages of reviewing several early stage lithium assets in well-known lithium jurisdictions. \nThe Company has now completed due diligence on two of these assets and anticipates that it will be able to execute binding investment agreements prior to the end of the year with exploration beginning in earnest in Q1 next year.\nThe Company's intent is to earn in at a project level basis where it can both hold larger stakes and utilise its management expertise to achieve the high level of returns that we have made on our portfolio to date.\nThe Company will announce details of the assets and terms of the transactions once it has executed the binding investment agreements.\nEuropean Metals Holdings Limited - Equity Raise\nEuropean Metals Holdings Limited (\"European Metals\" or \"EMH\") has announced a capital raising of £2,281,000 via subscriptions to predominantly UK based professional investors.\nThe funds will be used to advance the on-going definitive feasibility on the Cinovec deposit, Europe's largest lithium resource, and for general working capital.\nCadence has subscribed for £345,000 of new ordinary shares and after the issue of these shares, which is expected to occur on the 14 December 2017, Cadence will hold approximately 20% of the enlarged issued share capital of EMH. Cadence's overall unrealised return on its investment in EMH is 208%.\nMacarthur Minerals - Majority of Tenements in Pilbara Region Granted Exploration Licences \nMacarthur Minerals has announced that eleven out of its sixteen Exploration Licences in the Pilbara, Western Australia, covering circa 1,300 km2 have now been granted allowing full exploration activities on those tenements for conglomerate gold, gold and lithium. The remaining licences are expected to be granted shortly.\nCadence has a 15.2% equity interest in Macarthur, which is an Australian mini...