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An update from Cadence Minerals ( (GB:KDNC) ) is now available.
Cadence Minerals has entered into a letter of intent with Hesperian Metals to acquire up to a 40% stake in tungsten, antimony, and gold exploration packages in Spain and Portugal, known as the Pompeya and Sarzedas projects. The transaction will be funded by a £1 million investment from institutional investors. This acquisition positions Cadence to capitalize on the growing demand for tungsten, recognized as a critical material globally, with a significant price increase since 2020. The exploration of these tenements aims to identify potential mineral resource targets, enhancing Cadence’s portfolio in critical minerals, which are essential for the energy and technology sectors.
More about Cadence Minerals
Cadence Minerals Plc operates in the mining industry, with a focus on acquiring and developing mineral resources. The company is engaged in exploring and investing in critical minerals, particularly those necessary for energy and technology markets, such as tungsten, antimony, and gold.
YTD Price Performance: -44.35%
Average Trading Volume: 677,879
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £7.28M
Find detailed analytics on KDNC stock on TipRanks’ Stock Analysis page.
