Cadence reports today that it has executed a binding settlement agreement with the secured creditors over the Amapa iron ore project in Brazil. After completing the required administrative and regulatory filings it will see Cadence vest its $2.5m investment for a 20% stake in DEV Mineração S.A (DEV), which owns the assets of the Amapa iron ore mine) as part of a 99.9% ownership JV with Indo Sino. Cadence can increase its stake further in the JV to 27% by investing a further $3.5m and is worki ....
04 Jan 2022
WH Ireland: Cadence Minerals (KDNC) - Binding settlement agreed for Amapa iron ore project
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
WH Ireland: Cadence Minerals (KDNC) - Binding settlement agreed for Amapa iron ore project
Cadence Minerals PLC (KDNC:LON) | 3.7 0 0.0% | Mkt Cap: 7.31m
- Published:
04 Jan 2022 -
Author:
Paul Smith -
Pages:
4
Cadence reports today that it has executed a binding settlement agreement with the secured creditors over the Amapa iron ore project in Brazil. After completing the required administrative and regulatory filings it will see Cadence vest its $2.5m investment for a 20% stake in DEV Mineração S.A (DEV), which owns the assets of the Amapa iron ore mine) as part of a 99.9% ownership JV with Indo Sino. Cadence can increase its stake further in the JV to 27% by investing a further $3.5m and is worki ....