
("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals (TSX-V: MMS) (ASX: MIO) signs MOU with
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the "Company" or "Macarthur") has signed a Memorandum of Understanding ("MOU") with
Highlights:
· The
· In
· With high speed throughput design capacity potential, Macarthur's proposed Helix Dumper rail unloading solution would bring 'state of the art' rail unloading technology to the
· The MOU with
· The design of a 300,000 tonne iron ore storage shed ("shed") by Macarthur;
· The design of a new rail car unloading solution at the Port by Macarthur (presently proposed to be an Australian-first Helix rail car unloading solution and associated tube conveyor) ("Helix Dumper");
· The approval of the shed and Helix Dumper designs by Southern Ports; and
· The identification of suitable land by Southern Ports for the construction of the shed and Helix Dumper within the Port..
A conceptual engineering design report was completed by
· Construct, operate and maintain the shed and Helix Dumper; and
· Access the Berth 3 ship loader at the Port..
Any binding commercial agreements in relation to the shed, Helix Dumper and ship loader access will be conditional upon agreed milestones being met by Macarthur (including financing for its
Southern Ports is presently undertaking a broader master planning process at the
The pathway process in the MOU is intended to align with the completion of Macarthur's Feasibility Study for the
The full release can be found at: https://macarthurminerals.com/macarthur-signs-mou-with-southern-ports-authority-for-access-to-port-of-esperance/
The Company's innovative proposal for the development of on-port infrastructure at Esperance has the potential to deliver an export solution at the Port within a timeframe to meet the development objectives for
The MOU with Southern Ports provides a clear pathway that can support the delivery of the Company's current Feasibility Study and it is the next critical piece of the route to market infrastructure puzzle following Macarthur's announcement last year that it had received a proposal for an agreed pathway to develop a Commercial Track Access Agreement for below rail capacity from Lake Giles to the
We are very pleased to be working collaboratively with the team at
As a result of dilutions Cadence now holds approximately 1% 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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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
Forward-Looking Statements:
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.
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