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11 Jun 2019 | 13:59

Cadence Minerals hails offtake pact for Australian rare earths project

Cadence Minerals welcomed news that Hastings Technology Metals, its joint venture partner at the Yangibana rare earths project in Western Australia state had signed a second, but non-binding offtake agreement with Schaeffler

Cadence owns 30% of the Yangibana North, Gossan, Hook, Kanes Gossan, Lions Ear and Bald Hill North deposits, which form part of the broader Yangibana rare earths deposit.

Under the memorandum of understanding, the parties had outlined their intent to enter into a binding commercial offtake agreement within the next six months.

Schaeffler is a German automotive and industrial supplier of high-precision components and systems in engine, transmission, and chassis applications.

At 1:59pm: (LON:KDNC) Cadence Minerals Plc share price was +0p at 0.14p

Story provided by StockMarketWire.com
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