Kiran Morzaria of Cadence Minerals: Update includes increased Amapa stake to 30% with no additional capital raising required

Kiran Morzaria CEO of Cadence Minerals #KDNC provides an investment update which includes their increased stake in Amapa rising to 30% with no additional capital raising required. Anglo-American valued its 70% stake in Amapa at S$462 million.<br> <br> Highlights<br> <br> · Completion of Amapa Ore Reserve Estimate supports planned 15-year mine life<br> <br> · Cadence increases Amapa stake to 30% through conversion of loans, capitalisation of management, consultancy, admin and cash investment. No additional capital raising required.<br> <br> · European Metals Holdings ("EMH") reports significant developments with the Cinovec Lithium Chemical Plant ("LCP") extraction process, which is expected to is expected to reduce both Capex and Opex in the LCP by 10-20%.<br> <br> · Following the sale of stakes in Lithium Technologies and Lithium Supplies ("LT & LS"), Evergreen Lithium Pty Ltd is progressing with its listing on the Australian Stock Exchange.<br> <br> · Following the sale in working interests in the Yangibana Rare Earths project ("Yangibana") tenements to Hastings Technology Metals (ASX: HAS), we expect various regulatory approvals to be completed by the end of the year.<br> <br> To read the full RNS click here<br> <br>