Cadence Minerals PLC - Bacanora Lithium Strategic Investment Completed
("Cadence Minerals", "Cadence" or "the Company")
Bacanora Lithium (BCN) - Completion of
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Bacanora Lithium (AIM:BCN) ("Bacanora") on the
Cadence Minerals - Holdings in BCN, Mexalit and Megalit:
Bacanora is a lithium exploration and development company. Cadence holds 30% of Mexalit and Megalit joint venture companies and approximately 0.5% of Bacanora's equity. Mexalit is the owner of the
Update on Ganfeng and current activities at Sonora.
Ganfeng has recently announced its intention to proactively advance the development of Bacanora's Sonora lithium clay project during the second half of 2019 with a number of initiatives. These will support Ganfeng's target of 200,000 tonnes per annum lithium carbonate equivalent production capacity by 2025, although final capacity expansion will be based on changes in, and assessment of, future market demand for lithium products.
The Bacanora project team in
Changes to Board of Directors.
The full release can be found at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BCN/14264020.html
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information:
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the
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 reﬂect 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 information is provided by RNS, the news service of the
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