Cadence Minerals PLC (KDNC.L) CEO, Kiran Morzaria, Amapa transformation.

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) announced yesterday that it has received confirmation from the secured bank creditors that they have obtained approval from their credit committees with respect to the proposed terms of the settlement agreement (“Approval”) .

Cadence CEO, Kiran Morzaria, commented: “After a long and protracted process, I am delighted to be able to announce to you that we have now received Credit Committee Approval for the secured bank creditors to execute the Settlement Agreement. Cadence can then vest its initial 20% and eventually a further 7%, which in practical terms means we have a clear path and process to get Amapá recommissioned, licensed and back into production.”

“On my arrival at Amapá last week, I was deeply impressed by the rapid progress made by the DEV team, with the reconstruction of some of the administrative and community infrastructure already well advanced. We look forward to working alongside both DEV and Indo Sino to continue to develop this asset, creating further opportunity and prosperity for the Amapa region, and of course, delivering ongoing value for all stakeholders.”

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