Cadence Minerals PLC - Yangibana Project Environmental Approval London Stock Exchange
RNS Number : 6048J
Cadence Minerals PLC
20 August 2019
 

Cadence Minerals Plc

 

("Cadence Minerals", "Cadence" or "the Company")

 

Hastings Technology Metals (ASX:HAS) Achieves Significant Milestone With Environmental Approval to Mine & Process Rare Earths at the Yangibana Project.

 

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce Hastings Technology Metals (ASX:HAS) ("Hastings"), Cadence's joint venture partner at the Yangibana Rare Earth Project in the Gascoyne region of Western Australia ("Yangibana Project"), has announced that it has received notification from the Hon. Stephen Dawson, Minister for Environment that he has granted the environmental permit for the Yangibana Rare Earths Project (Yangibana Project).

Cadence Minerals Yangibana Holding:

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:

·      WA Minister for Environment has granted the environmental permit for the Yangibana Rare Earths Project.

·      Environmental approval milestone clears the path for remaining permits to be considered leading to construction and development work commencing.

The permit is subject to conditions listed in Statement No. 1110, which has been published on the EPA website. The conditions require on going compliance with additional flora and vegetation surveys and monitoring, groundwater abstraction monitoring and water level monitoring of the nearby stygofauna habitat.

The Yangibana Project includes the development of five open pit mines, groundwater abstraction, on-site processing plant for the ore, tailings storage facilities, access and haul roads and supporting infrastructure such as accommodation facilities, administration buildings and an airstrip.

The full release can be found at: https://www.asx.com.au/asxpdf/20190820/pdf/447mddrkvg9vt2.pdf

Cadence CEO Kiran Morzaria commented: "Today's announcement marks a significant milestone for the Yangibana Rare Earths Project. We now await the outcome for the remaining permits relating to commencement of construction and development work commencing."

- Ends -

For further information:

Cadence Minerals plc

+44 (0) 207 440 0647

Andrew Suckling


Kiran Morzaria




WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce


James Sinclair-Ford




Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss


 

 

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 Camborne School of Mines and an MBA (Finance) from CASS Business School.

 

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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