Cadence Minerals #KDNC – Update on Offtake Financing for the Azteca Plant
Cadence Minerals (AIM: KDNC) is pleased to provide an update regarding the ongoing Offtake Financing process for the Azteca plant. As part of the offtaker’s commercial due diligence, a limited number of non-systematic grab samples were collected from accessible areas of the existing tailings for indicative laboratory analysis. Assay results returned composite grades of 54% […]
Cadence Minerals #KDNC – Funding Secured for Cadence’s participation in Azteca Plant Offtake via Equity Subscription of £2.16m; Directors Subscription of £0.18m & Retail Offer to raise up to £0.2m
Cadence Minerals (AIM: KDNC) is pleased to announce that it has successfully raised its portion of the capital required to fund the restart of the Azteca Plant in Brazil. Cadence has received subscriptions to raise £2.16 million through the issue of 72,000,000 new ordinary shares of 1 pence each in the Company (“Ordinary Shares”) at […]
Cadence Minerals #KDNC Zeus Broker Note – 21.8p/share fair value
Zeus view: Positive step to make Cadence a cash-generating producer Provides proof of concept and significantly de-risks Amapá Supports DFS funding from internal cash, avoiding further dilution. Retain 21.8p/share fair value – today’s market cap still undervalues the project. A milestone for Cadence – the Azteca restart could be the catalyst for re-rating
Cadence Minerals #KDNC – CEO Kiran Morzaria Discusses the funding for the Azteca Plant restart and near term production at Amapa
Cadence Minerals CEO Kiran Morzaria discusses Heads of Terms to fund Azteca Plant restart & near-term production at Amapá with Alan Green ✅ US$4.6m funding package will finance the restart of the Azteca Plant ✅ Azteca will be cashflow positive from the first shipment, generate a healthy margins ✅ Funding generated to be invested into […]
Cadence Minerals #KDNC Signs Heads of Terms to Fund Restart of Azteca Plant and Near-Term Production at Amapá
Cadence Minerals (AIM: KDNC) is pleased to announce that, together with its partners in the Amapá Iron Ore Project (“Amapá” or the “Project”), it has signed a Heads of Terms with an international shipping and trading group (“Offtaker”). The Offtaker, a key partner in this venture, will provide most of the funding to license, refurbish, […]
Cadence Minerals #KDNC – CEO Kiran Morzaria discusses the reduction in Amapá Mining Costs
Cadence CEO Kiran Morzaria discusses the reduction in Amapá Mining Costs with Alan Green ✅ What a near 37% saving in mining costs means for the Amapá #ironore mine and Azteca Plant ✅ Offtake financiers onsite last week ✅ Timeline for permits and recommissioning of the Azteca Plant ✅ Updates on investments in Evergreen #EG1 […]
Cadence Minerals #KDNC – Significant Mining Cost Reduction at the Amapá Iron Ore Project
Cadence Minerals (AIM: KDNC) is pleased to announce the results of a review into the mining costs of the Amapá Iron Ore Project (“Amapá”, “Project” or “Amapá Project”) in northern Brazil. The updated mining costs have materially reduced the overall Free on Board (“FOB”) and Cost and Freight (“CFR”) costs compared to those announced previously. […]
Cadence Minerals #KDNC – Potential offtake financiers visit the Azteca plant
Potential offtake financiers visit the Azteca plant. The team reviewed processing equipment, inspected the magnetic separator, and sampled plant feed material. A valuable step in evaluating operational readiness.
Cadence Minerals #KDNC – Amapá Operational Update from Kiran Morzaria
Cadence CEO Kiran Morzaria talks to Alan Green and discusses the recently announced development strategy to fast-track production of green iron at its Amapá iron ore mine, rail and port project in Brazil. Kiran walks through the timeline for recommissioning the Azteca Plant to first production, including the issue of permits and installation licenses. Kiran then discusses the […]
Cadence Minerals #KDNC – Accelerated Production Plan at the Amapa Mine and Subscription of £402,000
Cadence Minerals (AIM: KDNC) is pleased to provide an update on the staged development strategy underway at the Amapá Iron Ore Project (“Amapá” or the “Project”), as well as a fully subscribed placing for gross proceeds of £400,000. Highlights Staged development strategy initiated at Amapá to fast-track production with low capital intensity. Azteca Plant recommissioning, […]