Kiran Morzaria of Cadence discusses strategy behind Yangibana sale and updates on Amapa

Justin Waite
Vox Markets Podcast
09:00, 23rd June 2022
AudioBoom | https://audioboom.com/posts/8108246-kiran-morzaria-of-cadence-discusses-strategy-behind-yangibana-sale-and-updates-on-amapa

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Kiran Morzaria CEO of Cadence Minerals #KDNC Follow | KDNC discusses the strategy beyond the sale of their Yangibana Rare Earths project tenements to Hastings Technology Metals and provides an update on their Amapa Iron Ore Project.

 

Highlights

• Cadence has agreed to sell its 30% working interest in the Yangibana Project tenements to the operator and owner of the remainder of the Yangibana Project, Hastings, for A$9 million (£5.1 million)

·   The sale is to be satisfied by the issue of fully paid ordinary Hastings shares

·   This transaction provides Cadence with equity exposure to 100% of the Yangibana Project via its equity holding in Hastings.

·   The NPV of the Yangibana Project is currently AS$ 1 billion

Read the full RNS here

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