Finance Metals & Minerals News

Cadence raises £750,000 for Amapá

Cadence Minerals plc has raised a total £750,000 via an 18% discounted placing and a directors’ subscription for the Amapá iron ore project in northeast Brazil. AMAPA The company raised £625,000 before expenses by placing 25 million new ordinary shares, at 2.5 pence per ordinary share. Non-executive chairman Andrew Suckling, chief executive Kiran Morzaria, and […]

Metals & Minerals News

Cadence progresses towards Amapá construction

Cadence Minerals plc has submitted further documents for the approval process to start construction at the Amapá iron ore project in Brazil. GREEN IRON The environmental control plan (PCA) and the environmental control report (RCA) were given ahead of schedule for the mine and railway. The PCA and RCA are part of the environmental approval […]

Finance Metals & Minerals News

Cadence raises £500,000 from single investor

Cadence Minerals plc has raised £500,000 via a 43% discounted placing of 16,666,667 new ordinary shares in company at a price of 3 pence per ordinary share with a single institutional investor. USES The company also issued to the subscriber one warrant for each new ordinary share. The fundraise warrants grant rights to subscribe for […]

Finance Metals & Minerals News

Cadence finds 33% savings for Amapá plant-production

Cadence Minerals plc has identified savings of 33% for processing plant recommissioning and increased production at the Amapá iron ore project in northeast Brazil. REDESIGN A capital expenditure optimisation programme, conducted at pre-feasibility level, showed US$63.2 million savings associated with the plant. This sees costs fall from $191.7m to $128.5m. Forecast increased production is approximately […]

Finance Metals & Minerals News

Cadence aims to cut costs and extend Amapá

Cadence Minerals plc expects to save costs and could extend operations at the Amapá iron ore project in northeast Brazil. FINANCING Nearly complete optimisation studies will reduce plant capital expenditure and an additional processing flow sheet aims to increase product quality to 67% iron ore concentrate. This contrasts with the previously proposed 62% and 65% […]

Legal Metals & Minerals News

Cadence expects early grant of licences at Amapá

The Amapá iron ore mine in Brazil has progressed with the grant of licences expected in less than half the normal period and a lower risk rating for the tailings storage facility (TSF). LICENCES Cadence Minerals plc, with a 33% interest, said that the re-rating followed maintenance, reporting, drilling and compliance work carried out since […]