Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement by
Following detailed analysis, approval has been granted to a formal request from Geomet and the Project study team of
The finalisation of the capital and operating cost estimate is reliant on the timely submission of proposals by numerous external suppliers and contractors. The process of obtaining sufficient and diverse proposals is nearing completion. However, the Project study team has advised that receipt and detailed evaluation of such proposals is going to take longer than originally scheduled.
The process flowsheet remains as announced on
Both Geomet and the Company recognise the importance of ensuring accurate and comprehensive engineering and cost data for the DFS, as it forms the foundation of the study's findings and recommendations. In this regard, the Company believes it is prudent to allow the necessary time to complete the study to the highest standard to ensure the delivery of a robust, accurate DFS that conveys the full economic and resource potential of the Project. The Company does not expect that the extension of the study period will impact the overall project timeline, with the permitting process already well underway.
The ongoing process of offtake and strategic partnering continues to reflect strategic interest in the Project as one of the very few advanced stage, large-scale lithium projects in the
The Project is underpinned by its Mineral Resource, which hosts nearly 7.4 million tonnes of contained lithium carbonate equivalent ('LCE') as announced on
The Company will continue to provide regular updates on any significant developments during the completion of the DFS. The Company and Project remain well-funded and the Board remains confident of the Project's capacity to create sustainable value for our shareholders.
Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech State over the
Cadence Minerals holds approximately 5.3% percent of the equity in
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Cautionary and Forward-Looking Statements
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identi?ed by their use of terms and phrases such as 'believe', 'could', 'should', 'envisage', 'estimate', 'intend', 'may', 'plan', 'will', or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the company's future growth results of operations performance, future capital, and other expenditures (including the amount, nature, and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements re?ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes actions by governmental authorities, the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The company cannot assure investors that actual results will be consistent with such forward-looking statements.
The information contained within this announcement is deemed by the company to constitute Inside Information as stipulated under the Market Abuse Regulation (E.U.) No. 596/2014, as it forms part of
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