("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals (TSX-V: MMS)
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) ("Macarthur") has received a Proposal that provides an agreed pathway to develop a Commercial Track Access Agreement ("Proposal") from Arc Infrastructure ("Arc") for below rail capacity from its
Macarthur and Arc have worked collaboratively on the development of Arc's Proposal, which is a material step forward in bringing Macarthur closer to securing a fully contracted route to market. The Proposal will provide sufficient certainty to support Macarthur's Feasibility Study for its
Under the Proposal, the parties have agreed to work together in good faith to negotiate and agree the terms of a Commercial Track Access Agreement ("CTAA") under which Arc would provide sufficient capacity on its Network to support the Macarthur task. The Proposal also includes indicative track access pricing based on an agreed set of operational parameters that would be incorporated into the CTAA.
The successful development of the
In addition, the Company is continuing to progress discussions:
· to secure an above rail haulage agreement;
· to finalise arrangements for the design, development and funding of unloading infrastructure that will avoid current unloading infrastructure constraints at the
· to secure rights to develop a 300kt iron ore storage shed and access ship-loader capacity at the Port.
Macarthur President and Executive Chairman
The Company's shareholders have been patient and loyal, investing in the vicinity of AUD80 million in the
Following the recent announcement of the lodgement of applications to develop a haul road and rail siding near Lakes Giles, and with above rail discussions well progressed, Management will now turn its focus to furthering the Company's engagement with Southern Ports to progress unloading infrastructure and ship-loader capacity options at the
This is another positive step forward for Macarthur in what has been a prolific 12 months of important milestones for the Company. We look forward to continuing our productive relationship with Arc as we move forward to delivering this important project for our shareholders and for
The full release, along with comments from the RTBU and MUA can be found at: https://web.tmxmoney.com/article.php?newsid=7886775262297494&qm_symbol=MMS
Cadence holds approximately 3% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in
This news release is not for distribution to United States Services or for Dissemination in
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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
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identiﬁed by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.
This information is provided by RNS, the news service of the