The company announced that the initial tranche of construction financing was received on May 25, 2026, after the completion of the explanatory documentation requested by the project customer regarding the licensing sequence. and a reduction in funding.
The mobilization of contractors will begin in June
According to the company, the DEV project operator has entered into an agreement with the main contractor and expects initial mobilization activities to begin next week, with full mobilization of contractors scheduled for the second week of June.
The restart program entered the implementation stage after the project received an installation license from environmental authorities in early May, authorizing approved repairs, construction and installation work at the Azteca facility.
Operational readiness measures are continuing
The company stated that DEV continues to enhance project readiness by hiring senior operational staff for both mining and processing facilities.
Additional advisory support on environmental issues and licensing has also been involved, as work continues to obtain the final operational permits required to begin commercial production.
Cadence Minerals CEO Kieran Morzaria stated that recent site visits have demonstrated encouraging progress in execution planning, staffing and operational readiness.
Now the company expects:
- commissioning by the end of July 2026 according to the accelerated execution schedule,
- or by the end of August 2026, when standard operation unforeseen expenses are included.
Based on the current project schedule, start-up and commissioning are expected in about 60 days after receiving the initial tranche of financing under the accelerated scenario or in about 90 days according to the standard schedule.
The final operating license is still required
Before starting commercial operation, the project must obtain an operating license, which is
