➡️Successful completion of the capital expenditure optimization program at the Amapá Iron Ore project resulted in a significant $63.2 million cost savings on the capex, leading to increased production.
➡️Identification of cost-saving opportunities through collaboration with Chinese manufacturers and engineers, optimizing equipment selection and process flow sheet, contributing to the reduction of capex by up to 50%.
➡️Plans for project financing include seeking a joint venture partner or private equity group to fund a majority of the project's capex, minimizing dilution for Cadence Minerals shareholders while maintaining a focus on operational efficiency and attracting favorable funding terms.
By Mark Fairbairn Recorded 25/3/2024
