Cadence Minerals (KDNC)

Sector:

Mining

Index:

FTSE AIM All-Share

2.50p
   
  • Change Today:
      0.010p
  • 52 Week High: 5.75
  • 52 Week Low: 2.30
  • Currency: UK Pounds
  • Shares Issued: 227.64m
  • Volume: 826,595
  • Market Cap: £5.69m
  • RiskGrade: 426

Cadence Minerals raises ?1.3m to fund Australian exploration programme

By Iain Gilbert

Date: Tuesday 26 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Cadence Minerals raised £1.3m through a placing of 866m ordinary shares on Tuesday in order to fund an initial exploration programme across its Australian lithium assets.
The AIM-listed outfit issued the shares at a price of 0.15p per share, a 21% discount to the closing price of its ordinary shares on Monday.

Cadence now expects to use the proceeds of the fundraising to fulfil the initial exploration expenditure on its three recently acquired highly prospective assets in Australia across regions with proven high-grade lithium mineralisation.

The firm acquired the properties via binding investment agreements it has had in place with Lithium Technologies and Lithium Supplies, since 11 December 2017, to acquire up to 100% of six prospective hard rock lithium assets in Argentina.

Cadence will start developing the Picasso, Litchfield and Alcoota projects in Western Australia and the Northern Territory immediately, while retaining its exposure to the six assets in Argentina.

It will also use the funds to cover ongoing due diligence and project reviews across several potential investments and for general working capital purposes.

Admission of the shares to trading on AIM is expected to take place on 8 April.

As of 1100 GMT, Cadence shares had slumped 17.57% to 0.15p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KDNC Market Data

Currency UK Pounds
Share Price 2.50p
Change Today 0.010p
% Change 0.40 %
52 Week High 5.75
52 Week Low 2.30
Volume 826,595
Shares Issued 227.64m
Market Cap £5.69m
RiskGrade 426

KDNC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.69% above the market average35.69% above the market average35.69% above the market average35.69% above the market average35.69% above the market average
19.05% below the sector average19.05% below the sector average19.05% below the sector average19.05% below the sector average19.05% below the sector average
Price Trend
84.9% below the market average84.9% below the market average84.9% below the market average84.9% below the market average84.9% below the market average
67.65% below the sector average67.65% below the sector average67.65% below the sector average67.65% below the sector average67.65% below the sector average
Income Not Available
Growth Not Available

KDNC Dividends

No dividends found

Trades for 06-Dec-2024

Time Volume / Share Price
13:35 8,461 @ 2.43p
13:24 21,405 @ 2.53p
12:55 10,900 @ 2.53p
12:31 250,000 @ 2.53p
12:02 200,000 @ 2.53p

KDNC Key Personnel

Finance Director Donald Strang
CEO Kiran Morzaria

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