Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce
Highlights
KfW and Euler Hermes confirm continuing support for Yangibana project financing.
Negotiations on long-form term sheet initiated.
Completion of due diligence and application for credit approval targeted for Q1 2020.
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An all parties site visit was successfully conducted in mid-September followed by further meetings in
KfW and Euler Hermes are now at the final stage of their independent in-depth due diligence study, which included a review of the legal, technical, environmental, social and market aspects of the Project. Whilst progressing the due diligence process, negotiations on a long-form term sheet have been initiated.
KfW and Euler Hermes have reaffirmed their continuing support for the Project. Once the due diligence process is satisfactorily completed, KfW and Euler Hermes will apply for credit approval to their respective credit committees and boards. This is targeted for 1Q 2020.
Contact:
Tel: +44 (0) 207 440 0647
Forward-Looking Statements
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified 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 reect 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.
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