Business
Results for the year ended 31 December 2016
Results for the year ended 31 December 2016.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 6118G Cadence Minerals PLC 31 May 2017 \n\nCadence Minerals Plc\n(\"Cadence Minerals\" or \"Cadence\")\nResults for the year ended 31 December 2016\n \nThe Company is pleased to announce its final results for the year ended 31 December 2016. A copy of these results will be made available on the Company's website from today.\n \n\n\n\n\nFor further information please contact\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCadence Minerals plc\n\n\n+44 (0) 207 440 0647\n\n\n\n\nAndrew Suckling\n\n\n\n\n\n\n\nKiran Morzaria\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland Limited (NOMAD & Broker)\n\n\n+44 (0) 207 220 1666\n\n\n\n\nJames Joyce\n\n\n\n\n\n\n\nJames Bavister\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSquare1 Consulting\n\n\n+44 (0) 207 929 5599\n\n\n\n\nDavid Bick\n\n\n\n\n\n\n\nBrian Alexander\n\n\n\n\n\n\n\n \n \nchairman's statement\n \nSTRONG ASSET GROWTH AND RETURN ON EQUITY\n \nThe lithium compound market continued to perform extremely well in 2016 and with medium-term supply requirements remaining unfulfilled, our assets also rose to the challenge. \n \nWe believe that our two primary assets in Mexico and the Czech Republic will become important sources of battery-grade lithium carbonate from 2019 onward. Our two main investments and joint ventures are targeting to produce, in aggregate, some 55,000 tonnes of battery grade lithium carbonate, which based on analysts' projections, could represent a very significant 7% to 10% of the world's supply in 2025.\n \nOur focus in 2016 was to continue our investment strategy and vision of identifying, investing in and taking an active role in low-cost, large and scalable critical metal deposits. The Group's current investments have borne out our strategy and delivered both excellent market returns and fundamental progress at the asset level.\n \nOur investment in the Sonora Lithium project (both directly and indirectly through our holding in Bacanora Minerals Ltd and our joint venture with them) continued to make excellent progress both during the year and subsequent to the year-end with the publication of a highly positive pre-feasibility study in 2016. \n \nFurther, in early 2017 the company signed a strategic agreement, inclusive of up to a 100% off-take for lithium carbonate with Hanwa, a major trading house based in...