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The latest announcement is out from Cadence Minerals ( (GB:KDNC) ).
Cadence Minerals has signed a Heads of Terms agreement with an international shipping and trading group to fund the restart of the Azteca Plant in Amapá, Brazil. The agreement, structured as a pre-payment offtake, secures US$4.6 million to finance the plant’s refurbishment and initial operations, with Cadence contributing 10-15% of the funding. The plant is expected to be cash flow positive from the first shipment, benefiting from low operating costs and strong market prices, and will support the development of a larger 5.5 Mtpa project. This move is seen as a significant step in Cadence’s strategy, enhancing its operational credibility and providing returns to shareholders.
More about Cadence Minerals
Cadence Minerals is a company involved in the mining industry, focusing on iron ore projects. It is engaged in the Amapá Iron Ore Project in Brazil, which includes a fully integrated operation with established mine, rail, port, and beneficiation infrastructure. The project aims to produce direct reduction-grade iron ore concentrate.
Average Trading Volume: 1,005,107
Technical Sentiment Signal: Sell
Current Market Cap: £5.94M
For a thorough assessment of KDNC stock, go to TipRanks’ Stock Analysis page.