A busy summer for Cadence sees it at the point where it can begin to see the restart of the Amapá iron ore mine project in Brazil. The Judicial restructuring plan (JRP) was passed by over 90% of creditors present and now accredited by the commercial court of São Paulo the JV will own 99.9% of the Amapá Project. This will also unlock Cadence’s investment of $2.5m for a 20% stake in the JV, to be followed by a further $3.5m investment to take its stake to 27%. There are ready stockpiles at Amapá ( ....
30 Aug 2019
Judicial restructuring plan approved for Amapá iron mine restart
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Judicial restructuring plan approved for Amapá iron mine restart
Cadence Minerals PLC (KDNC:LON) | 5.5 0 0.0% | Mkt Cap: 9.95m
- Published:
30 Aug 2019 -
Author:
Paul Smith -
Pages:
4
A busy summer for Cadence sees it at the point where it can begin to see the restart of the Amapá iron ore mine project in Brazil. The Judicial restructuring plan (JRP) was passed by over 90% of creditors present and now accredited by the commercial court of São Paulo the JV will own 99.9% of the Amapá Project. This will also unlock Cadence’s investment of $2.5m for a 20% stake in the JV, to be followed by a further $3.5m investment to take its stake to 27%. There are ready stockpiles at Amapá ( ....