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 raises £1.25m to repay loan notes

By Josh White

Date: Friday 21 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Brazil-focussed lithium developer Cadence Minerals has raised £1.25m, it announced on Friday, for both general working capital, and to allow it to repay loan notes using cash.
The AIM-traded firm said the funds were raised via a placing of 10,416,662 new ordinary shares with new and existing investors, at a price of 12p each, representing a discount of 21.7% to the closing mid-market price on 19 August.

It said it would use the net proceeds for general working capital, and to provide it with the flexibility to repay loan notes from cash reserves, rather than from its holdings in quoted investments.

The outstanding balance on Cadence's loan notes, as announced on 15 June and 1 August 2019, was currently £1.7m.

"As announced on 11 August, Companhia Docas de Santana (CDSA), a municipal company and the port operator, requested some additional non-statutory contractual requirements and undertakings," Cadence's board said of its current operations.

"DEV has provided the requested documentation, and continues to liaise with the State of Amapa and Secretaria de Estado de Meio Ambiente (SEMA).

"Cadence understands that SEMA will provide the required documentation imminently."

The company said it would provide an update once the first shipment was underway.

At 0837 BST, shares in Cadence Minerals were down 16.51% at 13.65p.

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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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