("Cadence Minerals", "Cadence" or "the Company")
Hastings Technology Metals (ASX:HAS) - DRA Pacific Awarded EPCM Contract Yangibana Processing Plant.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce Hastings Technology Metals (ASX:HAS) ("Hastings"), Cadence's joint venture partner at the
Cadence owns 30% of the Yangibana North, Gossan, Hook, Kanes Gossan, Lions Ear and Bald Hill North Rare Earth Deposit, which form part of the Yangibana Rare Earth Deposit. Probable Ore Reserves of some 2.1 million tonnes at 1.66% total rare earth elements are contained within 30% owned joint venture tenements. Further details of these reserves and pre-feasibility study can be found at: http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=2688632.
Highlights:
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· The scope of works under the DRA Pacific Pty Ltd EPCM agreement has an estimated capital value of circa
· DRA Pacific's parent
· The key component of the contract terms is the comprehensive performance guarantee linked to ore throughput for the entire process flow sheet.
The EPCM contract is the single largest dollar value contract associated with the
The key component of the contract terms is the comprehensive performance guarantee linked to ore throughput for the entire process flow sheet.
The appointment of DRA Pacific as the EPCM contractor for Hastings represents another critical milestone for the Project, reinforcing that Yangibana is execution ready.
Choosing DRA Pacific was the logical choice given the already close working relationship built up over the last 15 months, and the experience in rare earths processing plant design that DRA Pacific bring to the table.
The full release can be found at: https://www.asx.com.au/asxpdf/20191021/pdf/449nzf57qlq659.pdf
Hastings Executive Chairman
Cadence CEO
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For further information:
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+44 (0) 207 440 0647 |
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+44 (0) 207 220 1666 |
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+44 (0) 207 399 9400 |
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Qualified Person
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.
This information is provided by RNS, the news service of the