Cadence completes sale of Yangibana tenements

Early-stage investment and development company Cadence Minerals has completed the sale of 30% of its working interests in the Western Australia-based Yangibana rare earths project tenements to Australia-based rare earths company Hastings Technology Metals.

Cadence received 2.45-million (worth A$9-million) of new ordinary shares in ASX-listed Hastings for its stake in the Yangibana project.

Yangibana has a net present value of A$1-billion, while Hastings has current market capitalisation of A$472-million.

Cadence Minerals plc (LON:KDNC) is an early stage investment and development company within the mineral resource sector and is listed as an investment company on the London Stock Exchange AIM market and the Aquis Stock Exchange, also based in London.

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