Edison Investment Research - Cadence Minerals (KDNC) Cadence Minerals - Moving ahead with Amapa

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Edison Investment Research

Alison Turner

Cadence Minerals - Moving ahead with Amapa

Cadence Minerals is an experienced investor in mining projects and companies with a portfolio of early-stage and advanced assets spanning lithium, iron ore and REE industries. The company gained early exposure to lithium and, while it retains stakes in a number of lithium assets, it has recently completed a 20% investment in the Amapa iron ore project, a past producing mine with associated transport infrastructure in Brazil.

18/02/2022 1 EN

Underlying

Cadence Minerals

Cadence Minerals is engaged in identification, investment and development of Lithium and rare earth assets. Co. is also exploring other mining related opportunities.

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GB00BJP0B151 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Alison Turner

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Cadence Minerals (KDNC LN) - Licensing update for the Amapá iron ore project, Brazil

Cadence today provides an update on its licencing and project test work for the plan to produce a single 67% iron product from the Amapá iron ore brownfield restart in Brazil. Licences are all underway following an agreement with the local environment agency to expedite the process as Amapá is a former operating mine; Amapá needs a Mine Extraction and Processing Permit for which it needs an Installation License to begin construction and, when constructed, an Operational License. It also requires these two licences to construct and operate the railway and port which are under a separate licenci...

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This year will be important for Cadence Minerals’ major asset, the Amapá iron ore project in Brazil. Cadence recently announced the results of an optimisation study that points to the potential to increase production by 4.8% and lower processing plant commissioning costs by 33%. An updated pre-feasibility study (PFS) level NPV will be published in the near future and we explore some of the sensitivities in this report. We have adjusted our valuation to reflect portfolio changes and the rise in Cadence’s stake in Amapá, although we have yet to include the value uplift of the optimisation of Ama...

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Cadence Minerals - Moving ahead with Amapa

Cadence Minerals (KDNC LN) - Licensing update for the Amapá iron ore project, Brazil

Cadence Minerals - Amapá optimisation adds value

Cadence Minerals - Real progress, real value

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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