Cadence Minerals (KDNC ) is raising up to £450,000 through the issue of up to 10 million shares at £0.045.
This WRAP retail offer follows on from the £1.8 million placing and subscription that was announced on Friday 18 September.
The placing price represents a discount of approximately 10% to the mid-market closing price on 17 September 2026. The issue price of the retail offer is equal to the placing price.
The proceeds of the retail offer will be utilised in the same way as the proceeds of the fundraise, specifically to advance workstreams at Cadence’s Brazilian iron ore operations.
The retail offer closes on 23rd September, and has a minimum subscription of £100 per investor.
View from Vox
It is good to see Cadence allowing retail investors in on the same terms as bigger institutions. The progress refurbishing the plant at Azteca has been highly impressive over the past few months, and the company is now setting its sights on a significant production stream and the development of the wider Amapa project.