Cadence Minerals Plc (LON:KDNC) has highlighted another boon for its investment in Macarthur Minerals Limited (TSX-V: MMS) which is able to take forward exploration acreage in the Pilbara region of Western Australia.
In a statement, Cadence noted that the Western Australian Minister for Mines and Petroleum will not refuse any of the applications for exploration licences made by Macarthur Lithium Pty Ltd in the Pilbara.
It added that applications for forfeiture made against each of the company's 15 iron ore tenements will be withdrawn.
"We are delighted that, with this Ministerial clearance, Macarthur Minerals can now commence its planned exploration activities on the Pilbara tenements," said Kiran Morzaria, Cadence chief executive.
Cadence owns a 15.7% stake in Macarthur.