Cadence Minerals Progress Financing, Optimising & Process Flow Sheet at Amapa Iron Ore #kdnc

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Kiran Morzaria discussed ongoing optimization studies aimed at reducing the capital expenditure for the plant at the Amapa Iron Ore project. Cadence Minerals has developed a new processing flow sheet that has increased the iron concentrate quality to 67%, up from previous levels. This improvement could enable the company to market a higher quality product, potentially opening up new markets such as the United States, where there is a demand for high-grade material for green steel production. This advancement is expected to have a significant positive impact on the project's net present value (NPV). Progress is being made towards obtaining environmental & installation licenses, which are crucial for moving forward with the construction and rehabilitation of the mine. Additionally, discussions are underway on financing including both debt and equity components. By Mark Fairbairn 7/3/2024