Cadence Minerals (KDNC)

Sector:

Mining

Index:

FTSE AIM All-Share

3.20p
   
  • Change Today:
      0.25p
  • 52 Week High: 5.75
  • 52 Week Low: 2.30
  • Currency: UK Pounds
  • Shares Issued: 227.64m
  • Volume: 1,904,607
  • Market Cap: £7.28m
  • RiskGrade: 426

Cadence Minerals leaps as Yangibana Project wins environmental approval

By Duncan Ferris

Date: Tuesday 20 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Cadence Minerals shares jumped on Tuesday as it announced the granting of an environmental permit for the Yangibana Rare Earths Project in the Gascoyne region of Western Australia.
The AIM traded company owns 30% of the Yangibana North, Gossan, Hook, Kanes Gossan, Lions Ear and Bald Hill North Rare Earth Deposits which form part of the Yangibana Rare Earth Deposit, with probable ore reserves of some 2.1m tonnes at 1.66% total rare earth elements contained within 30%-owned joint-venture tenements.

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, while ongoing environmental compliance is also required.

Kiran Morzaria, chief executive of Cadence, said: \"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.\"

Meanwhile, the company also noted that Bacanora Lithium, in which it holds a 0.5% interest, has received a second approval for a £14.4m investment from Ganfeng Lithium Co Ltd, which would see Ganfeng take a 30% stake in Bacanora.

Ganfeng received the first approval from the Chinese Ministry of Commerce in July and it has now received approval from China\'s National Development & Reform Commission, leaving only a final pending approval from the State Administration of Foreign Exchange, which is expected in the next few weeks.

Cadence Minerals shares were up 18.92% at 0.11p at 1128 BST.

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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 3.20p
Change Today 0.25p
% Change 8.47 %
52 Week High 5.75
52 Week Low 2.30
Volume 1,904,607
Shares Issued 227.64m
Market Cap £7.28m
RiskGrade 426

KDNC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.28% above the market average35.28% above the market average35.28% above the market average35.28% above the market average35.28% above the market average
20.63% below the sector average20.63% below the sector average20.63% below the sector average20.63% below the sector average20.63% below the sector average
Price Trend
80.02% below the market average80.02% below the market average80.02% below the market average80.02% below the market average80.02% below the market average
57.35% below the sector average57.35% below the sector average57.35% below the sector average57.35% below the sector average57.35% below the sector average
Income Not Available
Growth Not Available

KDNC Dividends

No dividends found

Trades for 13-Dec-2024

Time Volume / Share Price
16:29 50,000 @ 3.27p
16:29 50,000 @ 3.27p
16:29 50,000 @ 3.27p
16:28 787 @ 3.30p
16:28 300 @ 3.30p

KDNC Key Personnel

Finance Director Donald Strang
CEO Kiran Morzaria

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