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Cadence Minerals

Cadence Minerals’ investee Macarthur Minerals updates on its route to market for its Moonshine magnetite deposits

Cadence Minerals plc (LON:KDNC) has noted that Macarthur Minerals has provided an update on its continued progress towards completing its route to market for the flagship Moonshine magnetite deposits at Lake Giles.  Following the recent engagement of RCR Mining Technologies Pty Ltd to provide a conceptual engineering and design solution for rail transport and unloading infrastructure of magnetite concentrate at the Port of Esperance, Macarthur and RCR MT completed a site visit to the port on 27 August 2020 in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.

Highlights:

·      Macarthur and RCR Mining Technologies have completed a site visit to the Port of Esperance in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.

·      Subject to approval by Southern Ports Authority, RCR MT’s cutting edge ‘Helix Dumper Wagon’ transport solution for Lake Giles Iron Project can be developed within the Port envelope at Esperance.

·      Macarthur’s market-lead proposal for the development of the Helix Dumper solution will allow optimisation of existing Berth 3 ship-loader capacity at the Port of Esperance, enhancing its current performance from the current 2,220tph throughput to over 4,500tph capacity.

·      RCR MT expects to complete its engineering design report on the Port of Esperance unloading infrastructure within weeks, creating a pathway (in collaboration with Southern Ports Authority and Arc Infrastructure) to select a preferred development option for the new rail unloading infrastructure system.

·      Reaching agreement on a preferred development option for the Helix Dumper and connected conveyor path will deliver the next material piece of the rapidly emerging ‘route to market’ solution for Macarthur’s Lake Giles Iron Project.

Following completion of the engineering design report by RCR MT in coming weeks, Macarthur will be engaging with key stakeholders to endeavour to agree a preferred option for the development of unloading infrastructure at the Port.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7383599247169787&qm_symbol=MMS

Macarthur President and Executive Chairman Cameron McCall commented: “Macarthur is continuing to forge ahead with a systematic approach to delivering every component of the infrastructure pathway that is necessary to bring Macarthur’s Lake Giles Iron Project into production and to see the first ore go over the ship’s rail.  The Board is confident that it has a Management team with the unique commercial and technical capabilities to get this over the line and take advantage of the current strength and resilience of the global iron ore market.

There is a very real concerted energy building around the Lake Giles Iron Project and the Company is exceptionally excited to be working collaboratively with the great teams at Southern Ports Authority, RCR MT, Arc Infrastructure and above rail service providers to introduce cutting edge ‘Helix Dumper’ technology to the Port of Esperance.

With the added capacity that the ‘Helix Dumper’ technology can deliver, the Company considers that there is a real potential to facilitate increased trade through the Port of Esperance and to contribute to the future economic growth and job security for workers at the Port and in the Goldfields region.  Macarthur welcomes the opportunity to be part of that story and to contribute a positive legacy for the State of Western Australia.”

Cadence Minerals Holding in Macarthur

Cadence holds approximately 2.2% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.