("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals (TSX-V: MMS) - Arrow Land Tenure Agreement and Applications Lodged for
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) ("Macarthur") has announced the completion of an agreement with Arrow Minerals Limited (ASX: AMD) ("Arrow"), for the grant of rights to apply for tenements which will support the development of infrastructure associated with a proposed magnetite processing circuit at Lake Giles.
Cadence also notes that on
Arrow Land Tenure Agreement
Pursuant to the Agreement, originally entered into in
The terms upon which Arrow agreed to permit Macarthur's application included a cash payment of
The full Arrow Land Tenure release can be found at: https://web.tmxmoney.com/article.php?newsid=6417845063071316&qm_symbol=MMS
Road and Rail Links
Subject to obtaining required approvals and completion of construction, the proposed haul road and rail siding will provide optionality for the transport of iron ore by rail to either Esperance Port or the
This key infrastructure is intended to support the development of Macarthur's flagship Moonshine magnetite deposits at Lake Giles, targeting a +65% Fe beneficiated magnetite concentrate, and opens up the opportunity to exploit Direct Shipping Ore ("DSO") from the Ularring hematite deposits.
In 2012, the Company completed a Pre-Feasibility Study for the mining of iron ore from its Ularring hematite deposits targeting a +60% Fe beneficiated fines sinter product. Given the current robust iron ore market, the Company is currently examining the opportunity to accelerate operations for the mining of DSO (as Stage 1) from its Ularring hematite deposits with the objective of generating early revenue flows. The development of new road and rail siding infrastructure has the potential to facilitate this, in addition to supporting the development of the Company's flagship Moonshine magnetite resource (Stage 2) following completion of a successful Feasibility Study for the
Macarthur President and Executive Chairman
"Defining route-to-market infrastructure has been the core focus for the Company throughout 2020. Completion of the Lake Giles Iron Project Feasibility Study will require Macarthur to have engineering designs and tenure for a haul road from the
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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For further information:
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.
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