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14 May 2019 | 14:45

Cadence Minerals welcomes sale by Macarthur of gold prospect stakes

Cadence Minerals welcomed news that Macarthur Minerals had agreed to sell an interest of up to 75% in 19 tenements prospective for gold, copper and lithium in Western Australia state to FE.

A subsidiary of Macarthur had granted FE a 45-day option to conduct due diligence and secure the required funding to proceed with exercising the option.

FE would pay a A$100k option fee and further A$400k should it decided to exercise the option.

The company would then have a right to earn-in up to 75% interest in the project.

Cadence owns about 10% of Macarthur's shares.

At 2:45pm: (LON:KDNC) Cadence Minerals Plc share price was +0p at 0.14p

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