Cadence Minerals plc expects to see increased value for its portfolio of assets as its investee lithium company nears the start of trading in Australia.
EVERGREEN
The company today said that Evergreen Lithium Ltd had filed its prospectus with the Australian Securities & Investments Commission and the Australian Stock Exchange.
Cadence owns approximately 15.8 million Evergreen shares which it anticipates to represent 8.7% of the issued share capital of Evergreen on admission on 10 March 2023.
Evergreen plans to progress three hard-rock lithium exploration projects in Australia including Bynoe and Fortune in the Northern Territory, and Kenny in Western Australia.
PORTFOLIO
Cadence chief executive Kiran Morzaria added that considerable potential existed across the company’s assets to deliver further progress during 2023.
“Once Evergreen lists on the ASX market, it will add further value to Cadence’s rounded portfolio of listed lithium investment vehicles, which include European Metals Holdings and our Sonora Lithium assets.
“Added to this, Cadence has exposure to the world class Yangibana rare earths project through it’s shareholding in Hastings Technology Metals and of course our flagship Amapa iron ore project [in Brazil].”