Cadence Minerals (KDNC) AI Stock Analysis

• Market Cap: £14.94M
• Dividend Yield: N/A
• Average Volume (3M): 8.81M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.27
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 6
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 415,631,040
• 10 Day Avg. Volume: 6,038,008
• 30 Day Avg. Volume: 8,812,638
• PEG Ratio: 0.16
• Price to Book (P/B): 0.19
• Price to Sales (P/S): -3.25
• P/FCF Ratio: -4.05
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: 3.50p ▲(6.06% Upside)

The score is held back primarily by weak financial performance (multi-year losses, revenue deterioration, and persistent negative free cash flow), despite a relatively strong low-debt balance sheet. Technicals are a key positive, with price trading above major moving averages and positive momentum, while valuation remains constrained by negative earnings and no indicated dividend support.

Positive Factors

Low leverage balance sheet

A low-debt structure provides durable financial flexibility for a development-stage mining investor. It reduces refinancing/default risk, preserves capacity to fund project milestones or partnerships, and gives time to monetize assets without immediate solvency pressure.

Asset-monetisation business model

Cadence’s model of realising value via equity stakes, farm-downs, offtakes and downstream processing creates optionality: successful project milestones can trigger discrete, material value crystallisations. This model suits a small investor seeking upside from development progress.

Focus on battery and technology metals

Concentrating on lithium and other battery metals aligns the company with long-term electrification and battery supply chain growth. Structural demand supports potential asset value appreciation and strategic partnership interest if projects reach development milestones.

Negative Factors

Persistent negative operating and free cash flow

Ongoing cash burn is a durable constraint: negative operating/free cash flow forces reliance on external financing or asset disposals to fund operations and project advancement. This limits reinvestment, increases dilution risk, and raises execution uncertainty.

Multi-year net losses and revenue deterioration

Sustained losses and falling revenue indicate weak operational momentum and limited near-term path to profitability. Without consistent earnings improvement, capital preservation and investor confidence are at risk, complicating long-term project funding and value realisation.

No consistent recurring revenue / disclosure gaps

Dependence on one-off asset monetisations and lack of transparent recurring revenue streams undermine predictable cash flow generation. This structural uncertainty makes forecasting, securing project financing, and attracting long-term partners more difficult over the medium term.

Cadence Minerals Business Overview & Revenue Model

Company Description

Cadence Minerals Plc identifies, invests in, and develops lithium and rare earth assets. The company is also exploring for iron ore and other mining related opportunities. In addition, it holds interests in the Sonora Lithium project located in Northern Mexico; and Yangibana project situated in Gascoyne, Western Australia; and the Amapa Iron Ore project located in Brazil . The company was formerly known as Rare Earth Minerals plc and changed its name to Cadence Minerals Plc in March 2017. Cadence Minerals Plc was incorporated in 2004 and is based in London, the United Kingdom.

How the Company Makes Money

Cadence Minerals Financial Statement Overview

Summary

Operating performance is weak with multi-year net losses (2021–2024), sharply declining revenue in 2024, and consistently negative operating/free cash flow (cash burn). The low-leverage balance sheet is a positive offset, but negative ROE and ongoing losses materially pressure overall financial quality.

Income Statement

Profitability and operating performance are weak and volatile. The company has reported net losses in 2021–2024, with 2024 net income around -3.3m and negative operating profit, following an unusually strong 2020 profit that does not appear sustained. Revenue has also deteriorated sharply, with 2024 showing a steep decline versus 2023, pointing to limited business momentum and poor earnings quality/consistency.

Balance Sheet

The balance sheet is a relative strength: leverage is low (debt-to-equity roughly 4% in 2024, and near-zero in earlier years), and equity remains sizable versus total assets. However, returns on equity are consistently negative in 2021–2024, indicating capital is not currently generating profits and raising the risk that equity could erode if losses persist.

Cash Flow

Cash flow is weak with persistent cash burn. Operating cash flow and free cash flow are negative each year shown (including about -0.8m in 2024), and cash generation has not stabilized despite some year-to-year improvement at times. With losses and negative operating cash flow occurring together, the company likely relies on external funding over time if the trend continues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-1.22M	-1.02M	-3.10M	-4.59M	577.00K	54.00K
Gross Profit	-1.22M	-1.02M	-3.10M	-4.59M	577.00K	54.00K
EBITDA	0.00	0.00	-3.32M	-5.49M	-141.00K	8.12M
Net Income	-1.63M	-3.33M	-3.02M	-5.50M	-144.00K	7.82M
Balance Sheet
Total Assets	17.66M	18.45M	19.97M	21.64M	23.01M	22.61M
Cash, Cash Equivalents and Short-Term Investments	168.00K	1.13M	4.38M	6.32M	12.30M	14.36M
Total Debt	578.00K	755.00K	1.24M	0.00	0.00	210.00K
Total Liabilities	1.23M	1.24M	1.52M	317.00K	853.00K	514.00K
Stockholders Equity	16.43M	17.21M	18.45M	21.32M	22.15M	22.09M
Cash Flow
Free Cash Flow	-764.00K	-820.00K	-1.31M	-1.96M	-754.00K	-1.65M
Operating Cash Flow	-764.00K	-820.00K	-1.31M	-1.96M	-754.00K	-1.65M
Investing Cash Flow	-923.00K	-198.00K	62.00K	-2.91M	182.00K	1.36M
Financing Cash Flow	1.62M	1.45M	1.40M	4.64M	-168.00K	412.00K

Cadence Minerals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
POW	58 Neutral	£18.19M	―	―	―	―	―
KDNC	53 Neutral	£14.94M	-6.34	-9.95%	―	―	―
KOD	52 Neutral	£96.33M	-9.18	-21.41%	―	―	-133.33%
ZNWD	52 Neutral	£38.78M	-12.00	-7.78%	―	―	-19.57%
CTL	50 Neutral	£18.77M	-1.30	-35.54%	―	―	―
ALL	48 Neutral	£96.59M	-26.25	-17.14%	―	―	54.72%

Cadence Minerals Corporate Events

Cadence Minerals to Brief Investors on Amapá Iron Ore Project Road to Cashflow

Cadence Minerals has announced that CEO Kiran Morzaria will host a live investor presentation on 15 January 2026 via the Investor Meet Company platform, focusing on the Amapá Iron Ore Project and its path to cash flow and development. The event is open to existing and prospective shareholders, who can register online and submit questions in advance or during the session, underscoring the company’s efforts to engage the market and provide greater transparency around the progress and strategic direction of its flagship iron ore asset.

The most recent analyst rating on (GB:KDNC) stock is a Hold with a £3.50 price target. To see the full list of analyst forecasts on Cadence Minerals stock, see the GB:KDNC Stock Forecast page.

Cadence Minerals CEO Outlines Licensing Progress at Brazil’s Amapá Iron Ore Project

Cadence Minerals has released a video interview with CEO Kiran Morzaria in which he discusses the recently granted Preliminary Licence for the Amapá Iron Ore Project in Brazil and provides an update on licensing progress, including at the Azteca plant. Although presented as a non-regulatory announcement, the update sheds light on the company’s progress in advancing key iron ore operations in Brazil, an important step in de-risking project development and reinforcing Cadence’s strategic positioning in the iron ore segment.

The most recent analyst rating on (GB:KDNC) stock is a Hold with a £3.50 price target. To see the full list of analyst forecasts on Cadence Minerals stock, see the GB:KDNC Stock Forecast page.

Cadence Wins Key Environmental Licence for Brazil’s Amapá Iron Ore Mine

Cadence Minerals has secured a Preliminary Environmental Licence (Licença Prévia) from the Amapá state environmental authority for the Amapá iron ore mine in Brazil, confirming environmental feasibility for the project at its full planned capacity of 5.5 million tonnes per annum of direct reduction grade iron ore concentrate. The licence covers the entire mine development plan, including open-pit operations, processing, waste handling and tailings infrastructure, and provides the regulatory foundation to recommission the Azteca processing plant as the initial production facility using existing tailings, with ore to be trucked and shipped via a public port ahead of rail and private port approvals. This milestone marks a significant de-risking of the project by establishing a clear pathway toward the next permitting stage—the Installation Licence, which will authorise construction and refurbishment—while ongoing technical studies, water and effluent permits, and parallel rail and port licensing work continue to advance. With approximately US$15.5 million invested and a 35.7% equity position in Amapá, the approval strengthens Cadence’s strategic position in high-grade iron ore and supports its staged redevelopment plan aimed at generating early cash flow and advancing the broader integrated operation.

The most recent analyst rating on (GB:KDNC) stock is a Hold with a £3.50 price target. To see the full list of analyst forecasts on Cadence Minerals stock, see the GB:KDNC Stock Forecast page.

Cadence Minerals Resolves Key Municipal Issues in Amapá Project

Cadence Minerals has announced a significant development in its Amapá Iron Ore Project with the resolution of long-standing municipal legacy issues through a court-ratified settlement with the Municipality of Pedra Branca do Amapari. This settlement removes historical administrative constraints, lifts ore transport restrictions, and provides a clearer regulatory pathway, enhancing the project’s operational environment. The company continues to advance its staged redevelopment strategy, focusing on risk management and long-term value creation, with recent technical engagements and funding arrangements supporting the project’s progression.

Cadence Minerals Advances Amapá Iron Ore Project with Strategic Visits and Licensing Progress

Cadence Minerals Plc, in collaboration with its joint venture partner DEV, is hosting a technical visit to the Amapá Iron Ore Project by the President of the Economic Development Agency of Amapá, Brazil. This visit aims to outline the development pathway for the 5.5 Mtpa integrated DR-grade iron ore operation, including necessary upgrades to rail and port infrastructure. Additionally, Cadence has advanced technical workstreams for the environmental licensing of the Azteca plant, marking the first stage of the Amapá redevelopment strategy. This facility is expected to enable early production and generate cash flow to fund further studies and capital projects, signaling a significant step in the project’s progression.

Cadence Minerals Secures Funding for Amapá Iron Ore Project Restart

Cadence Minerals, in collaboration with joint venture partners, has executed a binding Prepayment Offtake Agreement for the Amapá Iron Ore Project. This agreement secures a US$4.6 million prepayment facility to restart the Azteca Plant, enhancing Cadence’s equity position and accelerating the project’s development. The funding will support the licensing, refurbishment, and commissioning of the plant, with the expectation of generating early cash flow and reducing funding risks. This strategic move is anticipated to strengthen Cadence’s operational foundation and long-term growth prospects in the iron ore market.

Cadence Minerals Advances Offtake Financing for Azteca Plant

Cadence Minerals has announced an update on the Offtake Financing process for the Azteca plant. The company reported that non-systematic grab samples from the plant’s tailings showed iron content consistent with expectations, confirming the assumptions used in negotiations. The offtaker is satisfied with the results, and the financing process is progressing as planned, with no further sampling required. This development supports Cadence’s strategic objectives and strengthens its position in the mineral market.