Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that it has completed the sale of its working interests in the Yangibana Rare Earths project ('Yangibana Project') tenements to
Highlights:
Cadence has received AS$9 million of new ordinary shares in ASX-listed Hastings for its 30% stake in various tenements of the
Cadence has received some 2.45 million shares of Hastings, roughly 1.9% of the issued share capital of Hastings
Hastings is constructing the world's next producer of neodymium and praseodymium concentrate, with maiden production forecast to start in 2024
NPV of project AS$ 1 billion, Hastings current market capitalisation AS$472 million (24/01/2023)
Further transaction details are available in Company's RNS dated
About Hastings
Hastings is a well-managed
Hastings' flagship Yangibana project, in the Gascoyne region of
In February of last year, Hastings published a revised NPV calculation, which increased the NPV by 84% to AS$ 1 billion. Hastings also owns and operates the Brockman project,
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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.
This announcement contains inside information for the purposes of Article 7 of the
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