Cadence Minerals (GB:KDNC) has released an update.
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Cadence Minerals PLC has announced a successful fundraising of £750,000 to further the Amapa Iron Ore Project in Brazil, with £625,000 raised through new ordinary shares and an additional £125,000 from director subscriptions at a discounted issue price. The funds will advance testing and economic modeling of the high-grade ‘Green Iron’ product and provide general working capital for the project. The new shares will represent 13.2% of the enlarged share capital and are slated for trading on the AIM market of the London Stock Exchange.
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