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 upbeat on publication of Brazil court ruling

By Josh White

Date: Friday 19 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Cadence Minerals updated the market on its investment in the Amapa Iron Ore Project in Brazil on Friday, confirming that the court ruling it announced earlier in February had been published, and thus was now effective.
The AIM-traded firm had said on 10 February that the Sao Paulo Upper Court had rejected an appeal from secured bank creditors, thus annulling an interim order filed for by the bank creditors which was preventing the start of port operations and the shipment of iron ore stockpiles.

On Friday, it confirmed that DEV Mineração could now commence operations to ship sufficient iron ore to realise a $10m (£7.14m) profit from the Amapa stockpiles situated at its port, after the deductions of all logistical, regulatory, shipping and sale costs.

"Discussions continue between DEV, Cadence and Indo Sino, and the secured bank creditors, in relation to a final settlement agreement," the Cadence board said in its statement.

"The execution of a final settlement agreement with the bank creditors would represent the satisfaction of Cadence's remaining major precondition to make its initial 20% investment in the Amapa Project.

"On completion of the conditions and the release of the Cadence escrow monies, Cadence will become a 20% shareholder in the Amapá Project via our joint venture company, which will own 99.9% of DEV."

At 0858 GMT, shares in Cadence Minerals were up 6.5% at 19.65p.

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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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