Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Bacanora Lithium plc (AIM: BCN), the London-listed lithium company, has today announced a S$150 million senior debt facility with RK Mine Finance (“RK”), a leading specialist in the provision of senior debt capital to mining companies, for the development of Stage 1 of the Sonora Lithium Project in Mexico, an initial 17,500tpa lithium carbonate (“Li2CO3”) operation.

Furthermore, the Cadence team note the Bacanora’s comments that the competitive terms of the RK Facility provide further validation of the quality of Sonora’s battery grade (+99.5%) Li2CO3 product and its potential to become a leading supplier of high-value lithium products to fast-growing industries such as electric vehicles and energy storage.

Highlights

• US$150 million senior debt facility secured with leading specialist finance provider at competitive rates
• Follows favourable Feasibility Study which assigned a pre-tax US$1.253 billion NPV8 to the Sonora Lithium Project
• Advanced discussions with off-take partner and other strategic investors to complete the proposed Stage 1 development funding package

Bacanora is a lithium exploration and development company. Cadence has an approximately 8% of Bacanora’s equity and 30% of Mexalit and Megalit joint venture companies. Mexalit is the owner of the El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 mineral concessions, which forms part of the 20-year mine plan of the Sonora Lithium Project in Northern Mexico and the

Link to the full Bacanora announcement here:

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BCN/13706249.html

Cadence Minerals CEO Kiran Morzaria commented:

“On behalf of myself and the Cadence team, we are genuinely excited that Bacanora has secured a senior debt funding package of this size.”

“Bacanora’s CEO Peter Secker rightly points out the relative dearth of debt facilities across the junior resource space in recent years, and the fact that the facilities have been secured provides absolute validation of the quality and longevity of the Sonora Lithium project.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

About Cadence Minerals:

Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale – upcoming supersized passenger vehicles, lorries and buses – require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over £30 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identi?ed by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements re?ect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

Original Article: http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=2499009