Cardero Resource
gruss meislo
http://www.trading-insider.com/aktuell/16.02.2005: Trading INSIDER
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Cardero Resources: Megatrend Eisenerz - Preissteigerungen bis zu 90%
Der Branchenprimus Companhia Vale do Rio Doce (CVRD) kündigte vor wenigen Tagen Preissteigerungen für Eisenerz von 90% im Geschäftsjahr 2005 seinen Kunden an. Die Nachfrage nach Eisenerz übertrifft das Angebot inzwischen bei weitem. Während die Tonne Eisenerz im Jahr 2004 noch für US$30 (ohne Transportkosten) verkauft wurde, verlangt CVRD für das Jahr 2005 schon US$55 / Tonne.
Die in Vancouver beheimatete und an der American Stock Exchange (Symbol: CDY) notierte Cardero Resources (WKN: 919945) wird unmittelbar von dieser Entwicklung durch ihr ausgewogenes Projektportfolio profitieren. Insbesondere die Pampa de Pongo Lagerstätte in Peru mit 1 Milliarde Tonnen Eisenerz und das Anglo American Joint Venture Gebiet auf der Baja California/ Mexiko rücken immer mehr in den Blickpunkt der grossen Bergbaukonzerne.
Pikant: Vor kurzem wechselte der verantwortliche Geologe für das Anglo American Joint Venture auf der Baja California/ Mexiko von Anglo American zu Cardero Resources. Wir schätzen die Aktie von Cardero Resources als unterbewertet ein und erwarten Kurszuwächse von bis zu 300% in den nächsten 6-12 Monaten...
mehr im PDF
gruss meislo
Der muss es wissen, denn er ist der Carderopapst höchstpersönlich. Bob Bishop hat den Deal mit Anglo eingefädelt!!!
Bob Bishop, der Obermininggruru hat eben Cardero empfohlen:
Cardero Resources (CDU.TSXV/$3.65) — The advance in Cardero over the past ten days, and especially in the past few sessions, has probably made some wonder if this price action is in any way attributable to developments on Cardero’s IOCG project, in joint-venture with Anglo American, on Mexico’s Baja peninsula. It would be a logical conclusion to arrive at, but owing to the fact that drills still are not turning on this project, that logic would be misdirected. With a global meeting of Anglo American vice presidents taking place in Baja in late March, there is, however, a bit of urgency now attached to this program: this high level management group is expected to be paying a visit to the joint-venture’s project, and looking at drill core in conjunction with that visit would appear to put some pressure on Anglo to get drills turning.
Cardero confirmed yesterday that a likely start date is next week.
If you’ll recall, this project was to have been drilled beginning last June. A lawsuit, still pending, intervened, and more recently, the “late January-early February” deadline has also slipped a bit. While this sort of thing may prove trying to shareholders, the slowed pace of exploration—everywhere and for seemingly every commodity—continues to be powerfully supportive of the Stronger and Longer school of the Commodity Supercycle. In Cardero’s case, changes in the permitting process in Mexico account for some of the recent delay. In addition to that, Anglo is allegedly scrambling for personnel to supervise the program. When one considers that Anglo American is one of the world’s largest mining companies and the Baja joint-venture is said to be their foremost exploration program in the world, it puts some perspective on how strained the entire industry is—and why needed supplies of new commodities are not getting into the pipeline at a faster pace.
The first drill holes at the San Fernando project within the Alisitos joint-venture will be targeted adjacent to a former production shaft hosting copper grades in excess of 30%. The “waste rock” here in the old days averaged 2% copper. The anomaly associated with this mineralization has been modeled in excess of three billion tonnes, so mineralized drill core emanating from such a target is likely to be reflected in the market, quite likely before we see the first drill results. Cardero has long sported a market capitalization that has led most analysts to not take it seriously, but a drill hole from a project with this size potential will very quickly get CDU on a lot of radar screens. In addition to the prospect of a new and significant iron oxide-copper-gold discovery, it doesn’t hurt at all that CVRD, the world’s largest iron ore producer, raised its prices 71.5% on Tuesday of this week. Citing an “unprecedented situation characterized by the disequilibria in the global metals and maritime freight markets,” CVRD has highlighted iron ore at a time when it would be propitious to make a new discovery or to make other news in the sector. Let the drilling begin. www.cardero.com.
mmhhh,hier wird es wohl demnächst starten.
Dann hoffen wir mal auf gute News in den nächsten Tagen.
With a global meeting of Anglo American vice presidents taking place in Baja in late March, there is, however, a bit of urgency now attached to this program:
Das Topmanagement von Anglo American aus der ganzen Welt trifft sich auf der Baja
Warum wohl
Let the drilling begin.
gruss meislo
Wednesday March 2, 2:01 pm ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--March 2, 2005--Cardero Resource Corp. (the " Company" or " Cardero" ) (TSX VENTURE:CDU - News; AMEX:CDY - News; FWB:CR5) is pleased to report that a recently completed 14 line kilometre Induced Polarization (IP) survey by Anglo American Mexico S. A. de C.V. (" Anglo" ) over the Amargosa Iron Oxide Copper-Gold (IOCG) target has defined four, large, high chargeability, anomalies one of which is associated with outcropping alteration and mineralization at Amargosa Creek (Please see note below).
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Located 35 kilometres due south of the San Fernando IOCG system, the Amargosa area formed part of one of the initial thirty-one (31) high priority regional scale targets generated by Anglo's 2003 belt scale targeting initiative.
First pass geological reconnaissance identified significant alteration associated with undocumented IOCG mineral occurrences. Subsequent stream sediment geochemistry and geological follow-up resulted in the discovery of previously unknown and unworked hematite-chalcopyrite-pyrite mineralization outcropping over 350 metres in Amargosa Creek. Chip Sampling returned grades of 10 metres @ 1.45% Cu.
The majority of the showings are hosted by a thick (10s to 100 metres), permeable volcaniclastic unit and considered to be controlled by a complex interplay of the large regional Catarina fault zone (+30 kilometre strike) and second-order Amargosa and Specularite Creek faults.
Preliminary interpretation and modelling of the IP results by Anglo is highly encouraging:
The Amargosa IP Anomaly, as presently defined, extends over an area of 900 metres N - S by 350 metres E - W. This anomaly is centered on the outcropping Amargosa Creek mineralization and the mapped structural intersection of the Catarina and Amargosa fault zones (Please see note below). The anomaly has chargeabilites ranging from 28 to 42 milliseconds (ms) and appears to extend from subcrop to depths in excess of 200 metres.
The Central Anomaly occurs at the intersection of the Catarina and Specularite Creek faults zones and occurs over a 600 by 400 metre area (Please see note below). The anomaly is modeled to occur at depths of approximately 200 metres to 470 metres; it remains open at depth and has chargeabilites ranging from 30 to 40 ms.
The Amargosa NW anomalies are associated with and centered on the regional scale Catarina fault zone, a broad zone of anomalous copper geochemistry and intense, high level, alteration. They are comprised of two large IP anomalies (30 - 40 ms) which range from 1000 to 1200 metres strike length and over widths of 400 to 500 metres. They are modeled to occur at depths which vary from subcrop to approximately 500 meters deep and modeled thicknesses of plus 150 metres (Please see note below). They remain open to the NW.
Finally a single 28 to 42 ms anomaly occurs on the NE section of the northwestern most line at modeled depths of approximately 150 to 330 metres, it remains open to the NW (Please see note below).
Cardero's President, Mr. Henk Van Alphen, notes that " Anglo's work program continues to illustrate the potential of this new IOCG Belt. We eagerly await confirmation from Anglo of the commencement of drilling" .
Cardero is well financed with approximately $18 million in the treasury and well positioned to continue aggressively exploring projects in Mexico, Peru, and Argentina. Cardero has carved a niche as one of the largest landholders with potential for Iron-Oxide Copper Gold (IOCG) discoveries in the Americas as well as a balanced multi-commodity portfolio of high-quality precious and base metal (gold, silver and copper) prospects. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the American Stock Exchange (symbol CDY) and, on the Frankfurt Stock Exchange (symbol CR5).
For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.
On Behalf of the Board of Directors of
CARDERO RESOURCE CORP.
Hendrik van Alphen, President & CEO
Gruß an alle Investierten - freu mich schon auf die Ergebnisse der Bohrungen.
I am sorry to know that you are quite sad. Hopefully you will be happy in the next few weeks. Cardero is doing everything possible to continue to maintain strong communication with shareholders. As we have said before Anglo is in charge of the operation in Baja. Anglo has communicated to us that they are working with the local government officials to complete the permitting process to start drilling. New Mining laws came into effect in Mexico in January 2005. Since the laws are very new, local government officials are proceeding cautiously so there are no errors. As far as Cardero is aware, there are no problems, just government officials taking their time which I assume is no different in your country or Canada for that matter. Cardero offered to get involved in permitting but Anglo declined the assistance. That is exactly what is happening as we know it at this time. Cardero is not holding back any news and is waiting for the permit approval. All material changes will be announced in a timely manner.
Cardero received final results from Pampa de Pongo a few days ago. The results are being reviewed and analyzed. We anticipate issuing a press release in the near future. I do not have an exact date yet because we want to include maps on the press release and the maps need to get scaled appropriately and digitized.
Cerro Atajo – if you recall the press release Jan. 28, 2005, we stated: “Cardero intends to commence an aggressive exploration program at Cerro Atajo, anticipated to consist of detailed mapping, geochemical sampling and geophysics, followed by drilling. It is anticipated that this program will commence in February 2005.”
The initial exploration phase of the program calls for detailed mapping and sampling. Drilling is to follow. Work at Cerro Atajo started on schedule as announced in the press release and Cardero will issue a press release as soon as we have something material to report on Cerro Atajo.
" ..."
Let me know if you have additional questions.
Quentin
Anfang der woche kommen also bohrergebnisse zu pdp
anglo kann die baja noch nicht bebohren,da die erlaubnis noch nicht vorliegt und lehnt hilfe seitens cardero ab. der ton zwischen beiden firmen ist wohl etwas rauher geworden.
gruss meislo
Diamond drilling intersects in excess of 300 metres of massive magnetite mineralization grading 51.6% iron.
Cardero Resource Corp. (the "Company" or "Cardero") is pleased to announce the results for the final three drill holes of the Phase I diamond drill program on its 8,000 hectare Pampa de Pongo property. The property, located in the coastal region of southern Peru approximately 400 km south of Lima, is situated some 35 km southeast of the Marcona Iron Mine (approximate resource of 1.4Bt @ 54% iron) and the Mina Justa copper deposit (inferred resource of 218Mt @ 0.8% copper). A deep-sea port facility is located 42 km to the northwest at Puerto San Nicolas.
Background
Pampa de Pongo was discovered by Rio Tinto Mining and Exploration Ltd. ("RT") in the mid-1990s as part of a regional exploration program targeting iron oxide-copper-gold (IOCG-type) mineralization. Wide-spaced reconnaissance drilling by RT (a total of 15 boreholes) identified widespread mineralization along a structural corridor approximately 1 km wide and in excess of 6 km long (Figure 1). Highlights of the Rio Tinto drilling include borehole RT DDH001, which intersected 368 metres (true width) of massive magnetite mineralization averaging 45.3% Fe from 395-763 metres and borehole RT DDH009, which intersected a 82.6 metre interval between 259.4-342.0 metres that averaged 56% Fe, 0.24% Cu and 0.35 g/t Au in two main deposits referred to as the Central and South Zones (Figure 1).
RT concluded that, at Pampa de Pongo, "Wide-spaced drilling suggests a potential resource of 1,000Mt comprising approximately 75% magnetite." Pure magnetite has a theoretical iron content of 72.4%, but typically ranges from 60 to 68% iron. Furthermore, preliminary metallurgical test work carried out by RT indicated that a simple low intensity magnetic separation could produce a saleable concentrate grading 66 to 69% iron.
Cardero's Work Program
Work to date by Cardero (between March 2004 and February 2005) has included surface mapping, an electromagnetic survey (TEM), detailed high-resolution ground magnetic surveys and magnetic data processing (3D inversion models) and 4,596.6 metres of diamond drilling in 14 holes.
The resultant drill program took a two stage approach: the first seven boreholes, for a total of 1847 metres (DDH04 - 10 to 16), were designed to test TEM geophysical anomalies interpreted to represent potential copper mineralization adjacent to previously defined airborne magnetic anomalies (Figure 1). Although copper-gold intersections were encountered, the initial data has yet to identify a major target. However, Cardero believes that significant copper-gold potential exists in the area and will continue investigations designed to locate such occurrences. In the short term, further work will concentrate on following up on the outstanding drill results from the second stage of drilling which explored the potential of the property to host a significant iron ore deposit (see below).
The second stage of the drilling (2749.6 metres in seven boreholes, DDH04-17 to 21 and KA-001) was designed to explore for extensions of iron (magnetite) mineralization utilizing the 3D magnetic model in the South (DDH04-19) and Central (DDH04-20, 20A and 21) deposits, respectively, in addition to the Kampana target (Figure 1). Highlights of this drilling include:
In summary, the mineralization is semi-concordant and appears to have been controlled by a number of factors including host rock lithologies, primary porosity and secondary porosity related to fracturing and brecciation. Alteration minerals include serpentine, talc, epidote, chlorite, magnesite, dolomite, calcite, actinolite, albite, tourmaline, garnet, phlogopite, biotite, sericite and K-spar. Several phases of alteration-mineralization are apparent.
Based on the available data, results and utilizing all the available data the Central Zone is interpreted to consist of a flat-lying, semi-massive to massive replacement lens up to 370 metres thick and a minimum of 620 metres across. Mineralization appears to be consistent, averaging about 62% magnetite with sections of +80% magnetite (Figures 2 and 3).
Based on the available data, the South Zone consists of semi-massive to massive magnetite-sulphide within a horizon that has a thickness of up to 120 metres and has been traced over a minimum distance of approximately 900 metres. The top part of the deposit has been eroded and is covered by a thick section of Quaternary to Recent sand and gravel. The base of the deposit appears to be conformable with bedding, which has an apparent dip of about 25º east.
Both deposits remain open: Central Zone remains open at depth and in all directions while the South Zone remains open at depth and to the East.
Estimates by industry executives conclude that the world is facing an iron ore supply gap of approximately 40 million metric tonnes a year, which is unlikely to be met before 2008. Recently announced iron ore contract price increases by major producers include 71.5% for non-agglomerated ore (i.e. Rio Tinto's Hamersley Iron - fine US$61.71 per dry metric tonne unit and lump US$78.77 per dry metric tonne unit) and 86% for pellets (i.e. Nibrasco - pellet US$108.57 per dry metric tonne unit).
Mr. Henk Van Alphen, President of Cardero, stated: "Given the current strong demand for iron ore products and the bullish long-term outlook for the iron industry, the Company is very optimistic about the future of Pampa de Pongo in light of the very encouraging iron assay results to date and the apparent size of the magnetite deposit, and looks forward to continued progress on this excellent project".
EurGeol Mark D. Cruise, Cardero's Vice President-Exploration, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information contained in this news release.
The work program at Pampa de Pongo is supervised by Gary D. Belik, P. Geo. who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project photograph each individual borehole prior to preparing the split core which is sealed and shipped to ALS Chemex Peru for assay. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally representative blind duplicate samples will be forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control.
The Company is well financed with over $18 million in the treasury and well positioned to continue to explore its projects in Mexico, Peru, and Argentina. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the American Stock Exchange (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). The Company is actively evaluating gold, silver, copper and iron ore-copper-gold (IOCG) projects, which will ensure the recognition of Cardero as a world-class exploration and development company.
On Behalf of the Board of Directors of
CARDERO RESOURCE CORP.
"Henk Van Alphen, President" (signed)
Hendrik van Alphen, President
Contact Information:
Quentin Mai, Manager - Corporate Communications & Investor Relations
Email: qmai@cardero.com
Phone: (604) 408-7488 / Fax: (604) 408-7499
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release, which has been prepared by management.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding future anticipated exploration program results, the discovery and delineation of mineral resources/reserves, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend estimate, postulate and similar expressions, or which by their nature refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the Company's ability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies.
All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. This press release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises US investors that the US Securities and Exchange Commission's mining guidelines strictly prohibit information of this type in documents filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.
This press release is not an offer to buy or sell securities in the United States.
Der wert von pdp, dass ganz alleine cardero gehört, dürfte in der region von 350 milliarden dollar liegen! Mit cardero als investment kann man eigentlich nichts falsch machen!
Typische eisensande haben normalerweise folgende zusammensetzung
so äbnlich könnte eine Analyse des eisensands aussehen!
http://www.ndctz.com/liganga.htm
Fe2O3 51.4%
TiO2 12.9%
Al2O3 8.90%
V2O5 0.49%
MgO 4.80%
SiO2 0.90%
MnO 0.20%
CaO 0.01%
Ni 0.10%
Cr 0.20%
Man sieht da sind neben eisen auch reichlich andere metalle zu finden. in diesem beisoiel sind es vor allem titan, aluminium, magnesium,silizium und vanadium
Bob Moriarty
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June 4, 2005
I can't write about my favorite resource stocks without at least mentioning a few iron-copper-gold companies. First and foremost of which, of course, is Cardero... of billion pounds of elephant snot fame. [pardon me]. Cardero (CDU-V $3.26 Canadian CDY-AX 41 million shares outstanding, website) had a major presence at the NY show. I felt bad for Henk Van Alphen at the show since I had threatened to jump up and down on his chest if Anglo didn't start drilling soon on the major IOCG project subject to a 70/30 JV between Anglo American and Cardero.
Well, Anglo hadn't started drilling but the good news is that Henk didn't have to put up with me jumping up and down on his chest during the show. Actually, I couldn't get close enough to him, there were too many people taking swings at him with baseball bats. Anglo's drill program makes Waiting for Godot seem like an action flick.
But the good news is that we think, we THINK, [fingers crossed, feet in buckets full of horseshoes, sleeping w/shamrocks under my pillow] Anglo has the drill permits and will be drilling 'shortly.' I've been on the property and seen what Cardero has in the Baja and it's big. This may be the last chance to pick up Cardero stock while it's still cheap. I will be going down to Peru with Cardero in about two weeks to do a report on their Pampa De Pongo property with an estimated 5 billion tons of magnetite sands.
http://www.321gold.com/editorials/m...arty060405.html
In 1974 the Peruvian Ministry of Energy and Mines originally highlighted the iron sand potential of the area as part of a nationwide iron inventory study. Geologically, the large property is comprised of magnetite (iron)-bearing sands consisting of active dune fields and a large Quaternary basin containing a thick sequence of friable sands with visible magnetite throughout many of the exposures. The main active dune field covers an area of approximately 150 km² (15,000 hectares), while the Quaternary basin, which flanks the main dune field, is approximately 100 km² in size.
Preliminary sampling by Cardero indicates that the magnetic fraction for active dune material ranges between 0.7% and 21.24 weight percent (wt. %) magnetite and averages approximately 11.0 wt. %. Samples of Quaternary sand returned magnetic fractions ranging between 1.62 and 13.59 wt. %, averaging about 7.7 wt. % magnetite. Assays of the magnetic concentrates showed fairly uniform values of approximately: 61.5% iron (Fe), 4.3-6.41% titanium oxide (TiO2), 0.2-0.28% phosphate (P2O5), 2.41-4.34% silica (SiO2), 1.22-1.82% alumina (Al2O3), 0.61-1.14% magnesium (MgO), 0.4-0.55% manganese (MnO) and 0.01% sulphur (S).
Mineralogical and metallurgical testing has been performed on a 65 kg sample that has been submitted to SGS Lakefield Research Limited in Ontario, Canada. The concentrate produced from these tests and a 100 kg sample of rough concentrate from the Peruvian concessions were sent to Midrex / Kobe Steel Technologies in Charlotte, North Carolina, for FASTMET® / FASTMELT® testing to determine the feasibility of producing hot Direct Reduced Iron (DRI).
Final test results will be available in the next few weeks. Contingent on these results, Cardero will proceed to design a sampling program in conjunction with an iron sands sampling specialist to screen this large area in a timely and cost-effective manner.
"This type of project has numerous encouraging aspects," stated Henk Van Alphen, president of Cardero. "An excellent operating environment, proximity to the Peruvian power grid and long term natural gas supply, the Pan American highway, as well as an established deep water, iron exporting facility in an area with mining history and an experienced work force. Finally, due to its relative proximity to the Asian markets, any potential project should enjoy significantly lower shipping costs when compared to more distant iron producers".
EurGeol Mark D. Cruise, Cardero's Vice President-Exploration, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information contained in this news release.
The work program is supervised by Gary D. Belik, P. Geo. who is responsible for all geological aspects of the work and Lorne Hunter (B.Sc. Mining Engineering) is responsible for all engineering aspects of the work.
Cardero is pleased to announce that its partner Anglo American plc has informed the Company that the drilling permits for Baja California Norte are being reviewed by the appropriate Mexican government departments. An announcement will be issued when drilling begins.
The Company further announces that pursuant to its Stock Option Plan, it has granted incentive stock options to certain officers, employees and consultants, of up to an aggregate 400,000 shares in the capital stock of the Company. The options are exercisable on or before June 9, 2007 at a price of $3.25 per share. The Stock Option Plan was approved by the members of the Company at the Annual General Meeting held on April 15, 2005.
The Company is well financed with over $18 million in the treasury and well positioned to continue to explore its projects in Mexico, Peru, and Argentina. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the American Stock Exchange (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). The Company is actively evaluating gold, silver, copper and iron ore-copper-gold (IOCG) projects, which will ensure the recognition of Cardero as a world-class exploration and development company.
For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.
On Behalf of the Board of Directors of
CARDERO RESOURCE CORP.
"Henk Van Alphen, President" (signed)
Hendrik van Alphen, President
Contact Information:
Quentin Mai, Manager - Corporate Communications & Investor Relations
Email: qmai@cardero.com
Phone: (604) 408-7488 / Fax: (604) 408-7499
The TSX Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this news release which has been prepared by management.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding future anticipated exploration program result, discovery and delineation of mineral resources/reserves, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend estimate, postulate and similar expressions, or which by their nature refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the Company's ability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies.
This press release is not an offer to buy or sell securities in the United States.
der Sae Borse als einer der aussichtsreichsten explorer empfohlen!!
Ende Juli wird mit der Bohrerlaubnis zum wichtigsten projekt der baja gerechnet. Die bohrungen könnten sofort gestartet werden, da ein Bohrgerät laut unternehmensangaben sofort verfügbar wäre.
Hier der Kurzreport
Cardero Resources Corp.
Cardero arbeitet an der Identifizierung von bedeutenden (Edel-) Metall-Vorkommen in attraktiven und bislang kaum explorierten Regionen in Mexiko, Peru und Argentinien. Das Unternehmen hat sich in den letzten Jahren zu einem führenden Unternehmen im Bereich Exploration und Entwicklung von Eisenoxid-Kupfer-Gold-Vorkommen (IOCG) auf dem amerikanischen Kontinent entwickelt.
Cardero wird gegenwärtig mit einer Marktkapitalisierung von rund 140 Mio. CAD bewertet und verfügt aktuell über ein Portfolio von rund 20 Projekten, unter denen einige das Potential für außergewöhnlich hohe Erzfunde besitzen. Am weitesten fortgeschritten ist dabei das Pampa de Pongo-Projekt in Peru (100% Cardero), wo ausgehend von früheren Bohrungen des ehemaligen Eigentümers Rio Tinto eine Ressource von rund 1 Mrd. Tonnen Eisenerzhaltigem Gestein vermutet wird. Aktuell wurde in Peru auch ein sehr aussichtsreiches Projektgebiet mit Eisensanden akquiriert.
Die größte Phantasie bergen jedoch die sogenannten Main-Alisitos-Lizenzgebiete auf der mexikanischen Halbinsel Baja California, für die ein Gemeinschaftsunternehmen mit dem weltweit zweitgrößten Rohstoffkonzern, Anglo American eingegangen wurde. Der Anteil Cardero´s belief sich dabei auf 30% und wurde jüngst auf 40% aufgestockt. Dort treten Teile des von Anglo American vorsichtig auf 2,5 Mrd. t geschätzten Erzkörpers an die Oberfläche. Sollten sich die bisherigen Messergebnisse bewahrheiten, würde es sich dabei um einen der bedeutendsten Erzfunde der vergangenen 10 Jahre handeln.
ISIN: CA14140U1057
Empfohlener Börsenplatz: Frankfurt in D und TSX Venture in Kanada
Marktkapitalisierung: ca. 138 Mio. CAD
Kurspotenzial: 10 CAD
Cardero Resources Corp. (FSE)
Rohstoff-Aktien
Die weltweite Nachfrage am Rohstoffmarkt wächst rasant. Gleichzeitig ging in den vergangenen Jahren das Angebot beständig zurück. Während sich die Aktienmärkte Ende der 90er Jahre im Zuge der größten Spekulationsblase aller Zeiten ihrem Hochpunkt näherten, begann ohne Kenntnisnahme der Öffentlichkeit der Bullenmarkt bei den Rohstoffen. Werner Ullmann vom Börsenbrief Rohstoff Investor hat einige interessante Aktien ausgegraben und sagt, wo die Schätze vergraben liegen.
Run auf Rohstoffe
Der historischen Erfahrung nach ist davon auszugehen, dass der noch junge Trend ansteigender Rohstoffpreise mindestens weitere zehn, möglicherweise sogar 20 Jahre andauern wird, auch wenn temporäre Rückschläge drohen. Im Gegensatz zu den anderen Anlageklassen, wie Anleihen oder Aktien, haben wir es bei den Rohstoffen mit einem langfristigen Bullenmarkt zu tun, bei dem Rückschläge als Kaufgelegenheit genutzt werden sollten.
Denn während alle anderen bedeutenden Anlageklassen seit Beginn der 80er Jahre im Wert zulegten, können Sie durch den lang anhaltenden Preisverfall Rohstoffe heute günstiger erwerben. Silber erreichte Anfang der 80er Jahre seinen Hochpunkt bei 50 US-Dollar und Gold bei 850 US-Dollar. Heute kostet die Unze Silber etwa 7 US-Dollar und die Unze Gold 425 US-Dollar. Was in Ihrem Leben ist heute 50% günstiger im Vergleich zum Jahr 1980? Nebenbei ist selbst nach dem starken Anstieg in den letzten beiden Jahren ein Fass Öl immer noch billiger als ein Fass Bier.
Für die Zuschauer der 3satbörse hat Werner Ullmann einige Empfehlungen zusammengestellt:
Werner Ullmann, Jahrgang 1969, ist studierter Betriebswirtschaftler und Spezialist für Rohstoffe. Nach Stationen bei mehreren Bankhäusern wurde er Fondsmanager bei der Dr. Jens Erhardt Kapital AG. Dort baute er den Edelmetall- und Rohstoff-Researchbereich auf und betreute vermögende Privatanleger. Zur Zeit arbeitet Ullmann als Chefredakteur des Börsenbriefes „Rohstoff Investor“. Er ist Co-Autor des Buches „Profit mit Rohstoffen - Wie jeder am Rohstoffboom teilhaben kann“.
Bendigo Mining
Das Unternehmen ist zu 100% im Besitz des riesigen Bendigo-Goldvorkommens in Australien. In der Vergangenheit wurden im Bendigo-System 22 Mio. Unzen produziert.
Bendigo Mining verfügt über vermutete Gold-Ressourcen in Höhe von 11,2 Millionen Unzen. Das Unternehmen wird im Juni 2006 in Produktion gehen und im ersten Schritt 120.000 Unzen p.a. produzieren. In einem zweiten Schritt wird Bendigo im Jahr 2011 die Produktion auf über 500.000 Unzen p.a. ausweiten. Damit gehört das Vorhaben von Bendigo nicht nur zu den größten neuen Goldprojekten, die bis zum Jahr 2010 geplant sind. Mit einer Produktion von 500.000 Unzen Gold pro Jahr ab der nächsten Dekade und einem Minenleben von über 20 Jahren würde Bendigo Mining zu einem der größten australischen Goldproduzenten mit einer sehr langen Lebensdauer werden.
In Phase 1 wird ein durchschnittlicher Goldgehalt von 9g / t erwartet. Bei jüngsten Bohrergebnissen wurden an einer Teilstelle über 11 Meter gar 20g / t gemessen. Die Cash-Kosten sollen von 380 AUD / Unze auf unter 250 AUD / Unze zu Beginn der nächsten Dekade sinken.
Bendigo Mining ist nicht nur wegen des langfristig enormen Wachstumspotenzials und erwarteter Zuwächse beim Goldpreis aussichtsreich. Das Stadium der Unternehmensentwicklung spielt im Minensektor eine maßgebliche Rolle. Ein Unternehmen durchläuft von der Entdeckung einer Minerallagerstätte bis zur Produktionsaufnahme verschiedene Phasen, die mit entsprechenden Kursbewegungen einhergehen. Bendigo Mining befindet sich in der Übergangsphase hin zur Produktion, was mit wahrscheinlichen Kurszuwächsen verbunden sein dürfte.
Den langfristig hervorragenden Aussichten steht 2006 aufgrund gestiegener Kosten für das Bendigo-Projekt möglicherweise die zusätzliche Aufbringung von Mitteln in Höhe von 85 Mio. AUD gegenüber. Langfristig orientierten Investoren empfiehlt sich daher zunächst der Kauf einer kleinen Anfangsposition.
ISIN: AU000000BDG2
Empfohlener Börsenplatz: Sydney
Marktkapitalisierung: ca. 280 Mio. AUD
Kurs 15.07.2005: 1,105 AUD
Kurspotenzial: 1,70 AUD
Bendigo Mining (FSE)
PanOcean Energy
PanOcean Energy exploriert und produziert Öl in Westafrika. Das Unternehmen verfügt derzeit über 60 Millionen Barrel an Crude Oil-Reserven, wovon 29,4 Millionen Barrel nachgewiesen sind.
Der Hauptsitz von PanOcean Energy ist in Jersey, auf den Kanalinseln, der operative Fokus des Unternehmens konzentriert sich ausschließlich auf Gabun. Die Wurzeln des Unternehmens, das an der Toronto Stock Exchange notiert ist, liegen in Kanada. 1996 begann das Unternehmen die Exploration in Gabun und verkaufte Ende 1997 seine kanadischen Assets, um sich ausschließlich auf Aktivitäten in Gabun zu fokussieren.
Im Jahr 2004 produzierte PanOcean Energy 8.499 Barrel pro Tag On- und Offshore in Gabun. Für 2005 ist mit einem Anstieg der Produktion um 29% auf 10.970 Barrel pro Tag zu rechnen. Im Jahr 2006 erwarten wir gegenüber 2005 einen Anstieg der Produktion um 65% auf 18.100 Barrel. Auf dieser Basis ist PanOcean Energy für 2005 mit einem Kurs / Cash Flow-Verhältnis (KCV) von 11 und für 2006 mit einem KCV von 6 bewertet.
Das Bohrprogramm auf dem Tsiengui-Projekt dürfte im 3. Quartal 2006 eine tägliche Produktion von 15.000 Barrel pro Tag hervorbringen. Zusammen mit dem Obangue-Projekt und den Offshore-Aktivitäten wird das Unternehmen Anfang 2007 30.000 Barrel pro Tag produzieren und damit seine Produktion in weniger als 2 Jahren verdreifachen. PanOcean Energy hat eine solide Produktionsbasis und durch die Explorationsaktivitäten weitere Entwicklungsmöglichkeiten für mehrere Jahre in Gabun, sowohl On- als auch Offshore. Neben dem Produktionswachstum profitiert die Aktie von PanOcean Energy direkt von den hohen Ölpreisen, da das Unternehmen zu 100% das hochwertige Crude Oil produziert und keine Hedging-Maßnahmen trifft.
ISIN: CAG6890N1361
Empfohlener Börsenplatz: Toronto
Marktkapitalisierung: ca. 663 Mio. CAD
Kurs 15.07.2005: 28,30 CAD
Kurspotenzial: 45,00 CAD
Palladon Ventures
Das kanadische Junior Mining Unternehmen Palladon Ventures konzentriert sich auf die Akquisition, Exploration und Entwicklung von Mineralvorkommen weltweit. Neben fünf Gold-Explorationsprojekten in den US-Bundesstaaten Utah und Nevada und sieben in Argentinien besitzt Palladon 50% am fortgeschrittenen Comstock / Mountain Lion Eisenerz-Projekt und 65% am Western Utah Kupfer-Projekt (Kupfer/Gold). Für beide Projekte arbeitet Palladon an der Vorbereitung zur Produktionsaufnahme. Noch in 2005 will Palladon mit der Eisenerz-Produktion beginnen und Cash Flow generieren. Zudem bergen die weiteren Projekte vor allem in Argentinien teilweise sehr gute Explorationspotentiale.
Der anteilige NPV der in diesem bzw. kommenden Jahr in Produktion gehenden Palladon Projekte in Höhe von konservativ gerechnet (Diskontierungssatz von 10%) 1,08 CAD je voll verwässerter Aktie liegt deutlich über dem derzeitigen Kurs der Gesellschaft. Besonders das breit aufgestellte Projektportfolio mit viel versprechendem Explorationspotential besticht. Zusammen mit dem erfahrenen Management erscheint Palladon als spekulative Beimischung im Rohstoffsegment kaufenswert.
ISIN: CA6964341094
Empfohlener Börsenplatz: Frankfurt in D und TSX Venture in Kanada
Marktkapitalisierung: ca. 22,5 Mio. CAD
Kurspotenzial: 1,50 CAD
Palladon Ventures (FSE)
Cardero Resources Corp.
Cardero arbeitet an der Identifizierung von bedeutenden (Edel-) Metall-Vorkommen in attraktiven und bislang kaum explorierten Regionen in Mexiko, Peru und Argentinien. Das Unternehmen hat sich in den letzten Jahren zu einem führenden Unternehmen im Bereich Exploration und Entwicklung von Eisenoxid-Kupfer-Gold-Vorkommen (IOCG) auf dem amerikanischen Kontinent entwickelt.
Cardero wird gegenwärtig mit einer Marktkapitalisierung von rund 140 Mio. CAD bewertet und verfügt aktuell über ein Portfolio von rund 20 Projekten, unter denen einige das Potential für außergewöhnlich hohe Erzfunde besitzen. Am weitesten fortgeschritten ist dabei das Pampa de Pongo-Projekt in Peru (100% Cardero), wo ausgehend von früheren Bohrungen des ehemaligen Eigentümers Rio Tinto eine Ressource von rund 1 Mrd. Tonnen Eisenerzhaltigem Gestein vermutet wird. Aktuell wurde in Peru auch ein sehr aussichtsreiches Projektgebiet mit Eisensanden akquiriert.
Die größte Phantasie bergen jedoch die sogenannten Main-Alisitos-Lizenzgebiete auf der mexikanischen Halbinsel Baja California, für die ein Gemeinschaftsunternehmen mit dem weltweit zweitgrößten Rohstoffkonzern, Anglo American eingegangen wurde. Der Anteil Cardero´s belief sich dabei auf 30% und wurde jüngst auf 40% aufgestockt. Dort treten Teile des von Anglo American vorsichtig auf 2,5 Mrd. t geschätzten Erzkörpers an die Oberfläche. Sollten sich die bisherigen Messergebnisse bewahrheiten, würde es sich dabei um einen der bedeutendsten Erzfunde der vergangenen 10 Jahre handeln.
ISIN: CA14140U1057
Empfohlener Börsenplatz: Frankfurt in D und TSX Venture in Kanada
Marktkapitalisierung: ca. 138 Mio. CAD
Kurspotenzial: 10 CAD
Cardero Resources Corp. (FSE)
Bougainville Copper Ltd.
Bougainville Copper besitzt die Lizenzrechte an einer der bedeutendsten Kupfer-/Goldminen der Welt, allerdings nicht in einem ruhigen Land der westlichen Hemisphäre, sondern auf der von langen Jahren Bürgerkrieg geplagten Insel Bougainville, einem Teil von Papua Neu Guinea. Aufgrund der kriegerischen Auseinandersetzungen musste die Mine im Jahr 1989 geschlossen werden, nachdem in den Jahren von 1972 bis 1989 675 Mio. Tonnen Kupfer- und goldhaltiges Erz gefördert wurde. Rund dieselbe Menge dürfte noch als Ressource im Boden schlummern, was die Mine infolge der sich beruhigenden politischen Lage auf der Insel zu einem begehrten Objekt machen könnte.
Die Investitionskosten, die nötig wären, um die seit 16 Jahren stillgelegten Mine wieder in Produktion zu bringen, stellen aber eine erhebliche Hypothek dar. Der aktuelle Großaktionär Rio Tinto wird sich wohl nur bei weiter deutlich steigenden Rohstoffpreisen ernsthafte Gedanken über eine Wiedereröffnung oder Verkauf der Mine machen. Spekulation sowohl auf steigende Rohstoffpreise wie auch auf eine weitere deutliche Verbesserung der politischen Situation der Region. Nur in einem sehr geringen Umfang für spekulative Anleger geeignet. Orders streng limitieren!
ISIN: PG0008526520
Empfohlener Börsenplatz: Frankfurt in D und Sydney in Australien
Marktkapitalisierung: ca. 400 Mio. AUD
Kursziel (Potenzial): 1,0 EUR
Bougainville Copper Ltd.
Schatzgräber auf Baja California
[Von ftd.de, 12:38, 15.10.04]Die kanadische Cardero Resource zählt zu den interessantesten Rohstoffaktien und steht vor einem spektakulären Coup.Wenn man den Managern von Explorationsunternehmen Zornesfalten auf die Stirn treiben will, braucht man nur ein Wort zu erwähnen: Bre-X. Der Skandal um angeblich riesige, in Wirklichkeit jedoch frei erfundene Goldvorkommen in Indonesien sorgte in den 90er Jahre dafür, dass es kaum noch möglich war, Kapital für die Erschließung von Erzlagerstätten aufzutreiben. Noch heute hat die Branche mit den Nachwehen des Skandals zu kämpfen, doch der Anstieg der Rohstoffpreise hat einigen Explorern kräftig auf die Beine geholfen - sofern sie Greifbares vorzuweisen hatten.
Die im kanadischen Vancouver ansässige Cardero Resource Corporation gehört zu diesen Unternehmen. Die wenigen Investoren, die sich überhaupt für die traditionell sehr spekulativen Explorer erwärmen können, richten ihr Augenmerk meist auf Unternehmen, die nach Goldvorkommen suchen. Cardero fällt aus dem Rahmen, weil sich seine Geologen in erster Linie für Eisenerz und Kupfer interessieren, ohne dabei allerdings Edelmetalllagerstätten zu vernachlässigen.
Im günstigsten Fall findet man Eisenerz, Industriemetalle und Gold natürlich an ein und demselben Ort. Diese Art von Erzvorkommen nennt man IOCG (Iron Oxide Copper-Gold)-Deposits. Dort kommen Eisenerz, Kupfer, Gold und in manchen Fällen noch Silber, Nickel, Kobalt, Molybdän und Uran vor. Die bekannteste und bisher größte solche Lagerstätte ist Olympic Dam im Süden von Australien. Geologisch ähnliche Vorkommen gibt es jedoch auch in Südamerika, vor allem in Chile, wo einige der größten Minen der Welt liegen. Inzwischen scheint sich die These zu bestätigen, dass IOCG-Deposits entlang der Westküste Süd- und Mittelamerikas besonders häufig vorkommen. Cardero exploriert unter anderem in Peru und Argentinien, dicht an der chilenischen Grenze und in unmittelbarer Nähe einiger bekannter Großvorkommen.
Am vielversprechendsten sehen jedoch Carderos Projekte auf Baja California aus, der dem mexikanischen Festland vorgelagerten, etwa 1000 Kilometer langen Halbinsel. Das scheint auch der weltweit zweitgrößte Bergbaukonzern Anglo American so zu sehen. Der Minengigant hat mit Cardero ein Joint Venture geschlossen und eine Option erworben, bis zum 1. Dezember 2006 70 Prozent der Abbaurechte für sich zu reklamieren.
Im Gegenzug hat sich Anglo American dazu verpflichtet, rund 3,7 Mio. $ in die Exploration der Vorkommen auf Baja California zu investieren. Es gibt dort mehrere Erzlager vom IOCG-Typ, doch der Erfolg hängt an einem Namen: San Fernando. Dieses Vorkommen erstreckt sich über eine Fläche von etwa vier mal zwei Kilometern - und das Erz ist da. Man kann es sogar mit bloßem Auge sehen. Die große Frage lautet nun, wie tief die Lagerstätte nach unten reicht. Sollten es 900 Meter sein, wie Untersuchungen des spezifischen Gewichts und magnetischer Anomalien nahe legen, wäre dieses Vorkommen gut dreimal so ergiebig wie Olympic Dam. In diesem Fall wären die enormen Aufwendungen mehr als gerechtfertigt, die durch die Anlage einer Tagebaumine, einer Aufbereitungsanlage und die Schaffung der nötigen Infrastruktur entstehen.
Ende des Jahres werden Bohrungen die Frage beantworten, wie umfangreich der Erzkörper in San Fernando ist. Dann wird Bewegung in die Aktie kommen: Sie könnte abstürzen, sie könnte sich aber auch im Kurswert verzehnfachen. Solche Titel eignen sich natürlich nur für sehr risikobereite Anleger, und selbst diese sollten allenfalls ein paar Prozent ihres Kapitals einsetzen. Die Cardero-Aktie ist in Toronto und an mehreren deutschen Börsenplätzen notiert.
Hier sein bericht
Ferrous Nonsnotus
Bob Moriarty
Archives
July 5, 2005
Gold is for the mistress - silver for the maid
Copper for the craftsman cunning in his trade.
"Good!" said the Baron, sitting in his hall
But IRON - cold IRON is the master of them all.
-Rudyard Kipling
My long association with iron mining began in October of 1977. At the time I lived in Lakeland, Florida. I worked for a company named GlobeAero delivering small aircraft all over the world. One day the phone rang and my boss told me he wanted me to go to Van Nuys, California to pick up a Rockwell 685 for a delivery.
This particular 685 had belonged to Wayne Newton of the 25,000 Las Vegas shows. He lived in Las Vegas but his wife had a skin condition which required travel to LA a couple of times a month. Newton bought the 685 just to ferry her back and forth to LA.
The 685 was one of the worst engine/airframe combinations every made. Continental made the engines and was trying to squeeze 435 horsepower out of a geared TSIO-520 engine. It just didn't work, the engines cost about $25,000 at the time and lasted maybe 100 hours before major problems occurred.
Even Wayne Newton couldn't afford two new engines on his plane every few trips from Lost Wages to Los Angeles so he dumped the puppy. And along came some fool from Australia who insisted on owning a twin engine plane using avgas. There weren't many high winged twins and barely used but cheap, Rockwell 685s were a drag on the market.
The real good news from my boss was that the customer had a son-in-law who was in the US and wanted to ride with me to Australia for the experience. Given the choice between a copilot and a wet soggy sandwich, I'd opt for the wet soggy sandwich in a heartbeat. The only thing worse than a Rockwell 685 to Australia would be a 685 to Australia with a passenger.
20 hour legs from Oakland to Honolulu were common with me. And there just wasn't much room in a small plane, even a twin. Given the fact that sitting with someone in a cockpit the size of a large telephone booth was painful at best, I groused at the idea. After many minutes of my whining, he agreed that the choice was mine and should the experience prove too painful, I could dump my excess baggage (the passenger) at the closest airport.
I needed some idea of how the plane handled with weight so I filled the internal ferry tanks about half full in Van Nuys. My passenger was about 25 and just thrilled to be making a ferry trip. I wasn't quite as thrilled to be flying the son-in-law of the 2nd or 3rd richest guy in Australia. Copilots are a pain in the ass, rich copilots weren't even worth considering.
We left Van Nuys after sitting patiently for a week for the final touches to be done to the plane. When you have time to spare, go by air proved a wise statement. But on a beautiful sunny October day we set out.
I climbed up to about 15,000 feet, the plane was not only turbocharged, it was pressurized and I needed to make sure the fuel transfer system worked. As I came back on the power to a standard cruise setting I noticed the mixture control only worked one way. When I came back on the lever to lean the mixture, it worked fine, but when I moved the lever forward to make it slightly richer, the lever had no connection to the engine. So by adjusting the mixture, all I had done was to shut the engine down. I promptly feathered the engine and told Greg that we would be declaring an emergency and returning to Van Nuys to do a single engine approach. Mentally I thanked the trim gods because I could have been doing the same thing at 130% of normal weight over San Francisco Bay at night time. Thank God for small favors.
I went to guard channel, 121.5 and declared a Mayday. Once that iron butterfly became a single engine, it also turned into a submarine over water and a ditch digger over land. I wasn't even going to be able to maintain level flight, all I could do was come down at a controllable rate. My calmly modulated Mayday was sufficient to convince Air Traffic Control to clear the airspace back to Van Nuys.
All this time, my passenger is being very quiet. He asked if he could help and I told him silence would help more than anything. And once we were on the ground, to get out and clear of the aircraft as soon as possible. Actually I suppose that if you want to know how someone will be as a copilot, an overweight, single engine landing is a great way to do it.
I kept the power up on the operating engine and circled over the field to lose altitude. Basically as long as you understand that there is no waving off a single engine approach, an approach with one engine tarred and feathered is no different than that of an approach with both engines working. (It got tarred, so I feathered it).
Even though I was heavy, I landed right on the numbers and the plane came to a smooth stop. I looked out the right side of the cockpit and noticed a fire truck keeping pace with the aircraft as we slowed down. That confused me more than just a little. I shut the left engine down but here is a fire truck looking as if he wants to hose down the right engine. Mighty confusing it was.
The nice fellow on top of the fire truck kept motioning me to shut down the right engine by making a cutting motion across his throat. Since he seemed to be quite serious, I went ahead and shut it down and we jumped out of the plane. As we stretched our aching muscles, the fire truck driver came over and told me they would watch the right engine for signs of fire but I could walk back to the flight line.
I scratched my head and asked him why he was so concerned with the right engine, it was the left engine we had the problem with. In response, he dragged me over to the right side of the plane and he pointed at the now visible exhaust stack which had broken a clamp and had been throwing all the hot exhaust inside of the engine compartment. I blanched as I realized we were only a few seconds from having a fire in the right engine compartment.
I was loving this trip more by the minute.
We wasted another week in Van Nuys before finally setting out again. Van Nuys to Oakland went smoothly, Oakland to Honolulu was a comfortable 14 hours. Most of the time it took 20 hours and more to cover the 2200 NM between California and Hawaii in the single engine planes I was more comfortable with.
I couldn't complain about Greg, he turned out to be a pleasant companion. If I didn't know he was married to the richest woman in Australia, I couldn't have guessed it from his behavior. He was a nice guy and kept his stuff on his side of the cockpit.
Honolulu to Pago Pago proved uneventful and after a good night sleep we pressed on to Nandi in the Fiji Islands. By this time, Greg was actually proving useful and he fueled the plane as I filed our flight plan for Melbourne. We took off on what should have been our last leg and he turned to me as we went through maybe 1500 feet in our climb.
"Just how much of an oil leak is a serious oil leak?" he asked calmly. Not as calmly I responded, "If you can see an oil leak, it's a serious oil leak." He flew the plane as I looked out the right side and sure enough, oil was pouring from the prop seal. Again I declared an emergency and made a forced landing. It seemed to me that Nandi had a long runway, about 12,000 feet and with us being 30% over gross and it being a damned hot day, we used it all.
As we taxied in, I made a radio call to Qantas to ask that they send a mechanic out to look at the plane. If it was something easily fixed, I wanted to get it fixed and be on our way. My timing wasn't the best. It seemed that all the ground staff were on strike and all of the Australian staff and mechanics were pulling double duty trying to keep Qantas in Fiji flying.
When they told us that there wasn't any way any of their mechanics were going to be available in the next month or so, Greg surprised me and asked to use the mic for a minute. In surprise, I nodded and turned it over to him.
Wow, my calm unassuming, mild-mannered copilot turned into a wild man. He demanded the Qantas Station Manager meet us at the aircraft when we shut down. Taken equally by surprise, the Qantas supervisor on the radio just said, "OK."
I knew we were screwed. When you are on a lonely South Pacific island 2,000 miles from the nearest mechanic, you don't demand anything. If anything, you kiss a lot of ass and throw $100 bills around until someone deigns to pick them up and you hope he knows which end of a screwdriver goes in the little slot thingie.
The Qantas Station Manager was standing tall next to our parking place as we pulled up and he looked as mean as a cross between a Marine Sergeant Major and a junkyard dog. Greg pulled on my arm and insisted that he be allowed to do all the talking. That was fine with me, I wanted to practice saying, "Me no speeka de English." Stupidity was my last hope.
Greg positively puffed up and I began to see the rich kid in him. He introduces himself to the Qantas guy as Greg such and such, the son-in-law of so and so. He completely ignored me, it was as if I was just along for the ride. Which was fine by me. And he insists to the Qantas guy that he call the Qantas Chairman of the Board because he personally told so and so and Greg that if they ever needed anything from Qantas just to call.
I thought it was a great pitch. I especially liked the part about being ignored. I had a lot more flights planned through the Pacific in the future and for certain I didn't want Qantas pissed at me.
Alas, the Qantas Station Manager called Greg's bluff and he smiled as he escorted us into his office and dialed Australia. A few connections later he was talking to the CEO of Qantas. Then it was his turn to turn white. All I could hear was his side of the call, "Yes, sir, yes, sir. Of course sir. Right away sir. It sort of sounded like he was being given instructions to shoot us. Oh, well, it was a good try on Greg's part.
He pounded down the phone finally and turned his attention to us. "OK, " he said, I only have three mechanics but they are yours until our plane arrives this evening."
The Chairman of Qantas was on a first name basis with so and so and instructed the Nandi Station Manager to do everything in his power to get us airborne and there would be no charge. It took longer than I hoped, we had to fly a new prop seal in from Sydney but in it came three days later.
Greg was as good a company on the beach as in the air. If money brings that kind of clout, I'm all for it. If it had been me on my own, the plane would be sitting there still.
Finally the plane was ready, we took off for La Tontouta and then Melbourne and everything went smoothly. Except for the dead battery and the frozen directional gyro but it was a 685 and I already said I hated those planes.
By now the average reader may well have concluded that Moriarty has finally lost the very last of his marbles. Because while the story is quite interesting, if I say so myself, just what does it have to do with any association with the iron business?
I'm glad you asked that question because as luck would have it, I made this flight in 1977. A short 25 years before a fellow named Lang Hancock was flying with his wife from Nunyerry in Western Australia to Perth. It was 1952 and they flew in a tiny 145 hp Auster airplane. Storm clouds were building and they were forced lower and lower until Lang spotted the Turner River valley running through the Hamersley Range.
As they flew through the valley safe from the ravages of the storm overhead, Lang looked around. He was in a valley of iron, miles and miles of the highest grade iron ore every discovered. The deposit went on for 70 miles. It was enough iron ore to feed world demand for hundreds of years.
But it wasn't worth staking. Australian "experts" remained convinced Australia didn't have much in the way of iron reserves so it was forbidden to export iron ore. So it wasn't worth staking.
Lang Hancock returned to the Hamersley Range dozens of times taking samples which proved richer than any iron ore known. It was the largest iron deposit ever found. And not worth staking.
Lang lobbied the government for the next eight years before convincing them to relax the ban on international shipment of ore. When the ban was lifted, he immediately staked all the property he could afford to stake. And it took years more before he managed to convince Rio Tinto to mine the ore. In the end Rio agreed to mine the ore and Lang Hancock got a 2.5% NSR on the richest iron mine in the world.
As he grew older, he passed on half that NSR to his daughter, Gina, now the richest woman in Australia, with 1.25% of 78 million tons of iron ore a year.
And again, you may be wondering just where I'm going and what the heck does an interesting story about Lang Hancock and Gina Rinehart have to do with me?
It's easy, you see. The daft bugger in Australia who insisted on a high wing twin so he could look out for iron deposits was Lang Hancock and he didn't give a damn about the price. And Greg, my newfound friend and copilot was married at the time to Lang's daughter, Gina.
It may be wrong to dismiss out of hand serendipity as a useful method of discovering giant mineral deposits. It worked for Lang Hancock in Australia and it looks like it may well work for Cardero in Peru.
Since their experience in the Baja with IOCG targets, Cardero has tended to focus on giant, company making projects. They have a company making project in the Baja but their partner, Anglo, has had great difficulties getting drill permits for the IOCG target in San Fernando in the Baja and surrounding Alisitos IOCG belt. In three months all they have managed to accomplish is some very inventive excuses. If there was a master list of mining problems ordered in priority of difficulty, getting a drill permit in the Baja would be sitting right about the bottom just above chewing gum. But it has been a giant problem for the staff at Anglo in Mexico.
Back to Cardero and company making projects through the use of serendipity. Months back someone approached Cardero with the idea of Cardero investing money in a joint venture in Arizona processing magnetite out of sand. Henk Van Alphen, President of Cardero sent two of his top people to Arizona to study the project. It's one of those projects which has been around 50 years and everyone has looked at it and no one can figure out a way to make it pay at any price of iron.
Lorne Hunter and Carlos Ballon from Cardero looked over the project and reviewed the data. The magnetite content of the sand was about 5%, there were giant environmental issues and there were expensive problems with getting the iron to the west coast for shipment overseas. The project just didn't make sense for Cardero to invest in.
But their work provided them with a valuable baseline. At least they knew what magnetite sands looked like and had a basic understanding of the problems associated with processing sand for iron recovery. Some months later, when the pair were in Peru conducting a drill program at Pampa de Pongo [ PDP], they saw familiar looking sand dunes covered with the telltale black lines of heavy magnetite. But these were no wimpy 400-foot dunes, these are dunes over 6000 feet high, the highest sand dunes in the world.
(click on images for big pictures)
The dunes had the same look as those in Arizona but were creased with even more black banding indicating layers of concentrated magnetite. They took samples throughout a 250 square KM area. The tests came back showing the sand contained magnetite averaging between 7.7% in about 100 square kilometers and about 11% in the larger 150 square kilometer zone. The sand also contained 4-6% titanium oxide and vanadium.
It was pretty much the equivalent of Lang Hancock flying down the Turner River in 1952. Except separating the magnetite from the silica is a whole lot cheaper than drilling and blasting and mining hard rock iron. And moving magnetite through a slurry pipeline 40 KM to the deepest port in Peru is a whole lot cheaper than building hundreds of miles of track through the Australian desert. And prices for feed for iron mills and steel are a lot higher than they were 50 years ago.
But every silver lining has its cloud. Magnetite sand deposits were discovered in New Zealand as early as 1841 and a dozen or more efforts were made to produce iron and steel with no success. Great sums of money were spent and companies set up to produce iron only to run into the problem of how to separate the titanium and vanadium from the iron. It took until 1972 for the professionals in New Zealand to devise a way of producing iron and removing the titanium and vanadium.
From the gitgo, Cardero understood they needed to know not only the grade of the magnetite but also the metallurgy issues. Once the grade proved positive Cardero staked the entire 250 square kilometers. A large bulk sample was taken and shipped to Midrex in Charlotte, NC. Midrex is a subsidiary of Kobe Steel and is considered in the industry as being the experts in direct reduction iron making.
Midrex released their results on June 23 and they were positive. They could achieve separation of the titanium and vanadium from the iron. Interestingly enough, the slag contains about 21% tiO2 and over 3% V2O5 (vanadium pentoxide). And in New Zealand, they have devised a way of processing the vanadium from their slag. This is an area Cardero intends to study in the future to increase the value of the deposit but they have not taken any values into any of their equations. But the reader should be aware that at current prices, a ton of slag containing 3% vanadium is worth about $1500 in vanadium pentoxide though the price is up more than 10 fold in the last five years. Even $150 a ton for the slag would provide a valuable contribution.
When it comes to numbers, this deposit gets exciting and problematical at the same time. If you demand an idea of what sort of tonnage they have on their hands, they stammer a lot. For a back of the envelope calculation, 250 square KM with an average depth of 100 meters gives 25 CUBIC KM or about 50 billion tons of sand. If you like a figure of an average of 10% magnetite, you come up with about 5 billion tons of magnetite. In comparison, the nearby Marcona mine operated by Shougang Hierro Peru only quotes resources of 1400mt of iron. Cardero's sands project is enormous by any measure.
And measuring it by standard methods is going to be a problem. The tallest sand dune is 6850 feet or 2078 meters above the desert floor. For sure it's not 100 meters deep so you can throw out the 50 billion tons of sand figure. It's bigger, maybe much bigger.
The sand is a very fine grained, almost powder type of sand so it lacks friction. Geos use a term meaning the angle of dangle but they call it the angle of repose. Every substance has a certain friction and a mass of that material will settle at a certain angle. The angle of dangle for the sands is in the neighborhood of 40 degrees. You couldn't get a vehicle of any sort on many of the natural slopes because the vehicle would simply float down the sand. It may be necessary to use satellite or subsurface radar to attempt to measure the total sand.
I stood at the bottom of one of the sand dunes and I'm going to tell you trying to measure the total FE content of those sand dunes is pretty much a waste of time. Those flipping dunes are so big they scared the hell out of me and I was at the bottom looking up, not at the top looking down. Jesus Christ and all his helpers couldn't mine that deposit out in the next 50 years.
Lorne Hunter's back of the envelope figures showed the extraction of 21.75 tons of basic magnetite sand with a 80% recovery would produce 17.4 tons of sand with 1.74 tons of magnetite with a 60% FE content. When introduced into a furnace using the Midrex process would reduce to 1.04 tons of concentrated FE which would reduce to 1 ton of pig iron containing 94% FE in 15 to 25 KG billets to be used as feed for Basic Oxygen or Electric Arc furnaces.
As with Palladon Minerals, adding value to the product to increase profit makes a lot of sense. Using standard industry figures, I came up with a $308 million dollar total cost to build the plant and equipment to produce 1 million tons of pig iron per year. The magnetite would be separated from the waste silica sand at the dunes using simple drum magnetic rollers, then passed through 40 KM of pipeline as a slurry to either Puerto San Nicolas or the Bay of San Juan just to the south of the Marcona mill.
Once on the coast, Cardero would add about 450,000 tons of imported coal to produce 1 million tons of pig iron. Since you have to ship the coal to the pig iron processing site by boat, it makes more sense to process the pig iron where the coal lands than to ship the coal inland. Using a figure of $100 a ton for coal delivered to Peru and $340 for the finished pig iron billets, back of the envelope calculations show a cost about $140 per ton in operating cost to produce a million tons of pig iron worth $340 million per year. The SWAG (Stupid Wild-Assed Guess) ROI works out to about 65% per year which beats a red hot stick in the left eyeball.
The physical proximity of Cardero's other iron project in Peru, Pampa de Pongo, and the Marcona Iron mine/mill to the iron sands projects creates some interesting issues; and either problems or opportunities depending on how you look at it. So far what I have written about Cardero is your bog standard rags to riches junior mining company scenario. Junior mining company grabs the brass ring, the stock goes to the moon and we all retire rich. But this story has a kicker because of the Pampa de Pongo and Marcona location.
Rio Tinto owned and drilled Pampa de Pongo in the 1990s and estimated a 1 billion ton resource of iron ore averaging 52% FE content. Since the project is pretty much similar to that of being a red-headed step child, Rio Tinto optioned the property out and Cardero picked it up for a total payment of cash and shares of about $500,000 by the beginning of 2008. Cardero drilled PDP earlier this year and came up with pretty much the same results as Rio Tinto. The main ore body is close to 300 meters deep but appears to contain about 800 million tons of high grade iron ore.
Again, using back of the envelope figures, Cardero believes they could sink a shaft and mine the 800 million tons of ore using the block caving technique for roughly the equivalent cost of open pit mining. But with Marcona mine with 1.4 billion tons of iron ore located only 40 KM to the NW, the only logical way to mine the ore is to use it as feed for the Marcona iron mill. But why should the Chinese (who own Marcona) mine PDP in a JV with Cardero when they have their own mine closer to the mill?
Here's where we really get interesting. PDP is an orphan without a JV with Marcona but the Chinese have no real reason to deal with Cardero since they have their own iron mine. Let me fill you in on the history of Marcona and the wild gyrations the mine/mill have been through.
A US company named Utah International opened the Marcona iron mine and mill in 1953 as a state of the art representative of the best and most up to date iron facility in the world. By 1975, the Peruvian government had better ideas.
Now you need to know something about Peru. It's a dangerous country to visit. Thieves haunt the entire country and every hotel or small business will have their own armed guards. Pickpockets are everywhere. Including in the government. They have a real socialist slant and on a regular basis will nationalize the productive fruit of other's labor and capital. By 1975 Utah International had built Marcona into one of the best iron mines and mills in the world, producing over 7.5 million tons of iron ore and pellets a year. So the Peruvian government seized the company and went into the iron business.
You can guess the result. It took 20 years for the government of Peru to admit governments don't do a very good job of running any business. So they did the next dumbest thing, they sold the mill and mine to a Chinese company called Shougang International.
Now I am a big fan of the Chinese and I admire them for a whole variety of reasons but frankly their mining methods and technology don't export well. Shougang took over around 1995 and the first thing the Chinese government did was try and execute the CEO of Shougang for corruption. That had a chilling effect on the tendency of overseas executives for Shougang to make decisions and basically the company has been going downhill ever since. Estimates by industry experts show production of iron ore and pellets to have decreased from 7.5 million tons in 1975 to maybe 4.5 million tons today.
While Shougang has no particular reason to work with Cardero based on PDP, they are faced with a critical decision to make when you throw in the iron sands project. Cardero can produce and ship iron ore or pig iron a lot cheaper than Shougang can. It doesn't cost much to process sand and smelting costs don't vary a lot.
Construction of a 40 KM slurry pipeline might cost about $15 million, those sort of pipelines cost about $400,000 per KM. Shougang can get into bed with Cardero and get all the benefits of Canadian mining management and easy access to capital markets or they can sit and watch as Cardero eats their lunch in business. Cardero has nothing to lose either way, they have what may well turn into being the swing producer for magnetite in the world. It's a no lose deal for Cardero but Shougang must lead, follow or get out of the way.
Adding to the confusion, the government of Peru is pretty much committed to turning Puerto San Nicolas into what the political parties are calling a Superport. The port is the deepest port in Peru and plans are being made to run a road and maybe a rail line from San Nicolas over the Andes into the Amazon Basin. Such a port would open the entire Amazon Basin and most of South America to goods from China and allow shipping of food and raw materials to what will certainly become the most significant port in the world.
Naturally the government of Peru wants to expand their tax base as much as possible. It is in their best interest to assist Cardero in their development plans in conjunction with the planned Superport. Peru may gain an additional but more efficient iron producer or it may end up with one iron mining giant/ steel mill at Marcona in partnership with Cardero. In either case, the government and people of Peru will be measurably better off.
Cardero is in the driver's seat with the strategically located Pampa de Pongo 800 million ton deposit and multi-billion ton iron sand deposit. The reached for the brass ring and grabbed it for the second time. That's rare in any business but the management and staff at Cardero are first class all the way.
I have waited patiently for 15 months for Anglo to begin drilling. I went way out on a limb over a year ago and predicted a major, world-class IOCG deposit at San Fernando. Alternatively, I suggested it might only be highly magnetic elephant snot in a giant pool. I want Anglo to drill because I want to say, " I told you so." I want the bragging rights which rightfully go with the successful prediction of a giant body of elephant snot.
But I, too, have grabbed the brass ring for the second time. I got to visit and write up another world class IOCG deposit for Cardero. But this time I don't have to depend on Anglo. I took a non-magnetic pan and hand magnet of my own and took my own samples. And I can assure you it is magnetite and there is a boatload of it.
Cardero has carried two burdens over the last 15 months. One, of course, the most obvious one, is the "Waiting for Godot" drilling approach by Anglo and the other is a more prosaic "Too good to be True" belief held by many investors. There are a lot of investors who believe if a company announces good results again and again, the results must be false, it must be some sort of Bre-X with the resources increasing by an order of magnitude every two weeks.
You have my permission, you don't have to believe me, you can go down, take a copper or plastic pan and your own magnet and do your own sample. It's iron you will find in your pan, not elephant snot.
Don't let the towering dunes scare you. Think of them as being piles of money. And you can come back 200 years from now and the dunes will be the same. Except they will be about 11% lighter by weight.
Cardero advertises with 321gold, they have not paid for this article in any way. We own a lot of Cardero shares. We don't share in your profits so we don't want to hear about your losses. I try to call them the way I see them but your investments are your investments.
Cardero Resource Corp.
Tue Jul 5, 2005
Cardero Negotiates a Minimum 10% Ownership Increase at Baja Iron Oxide Copper Gold Project
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Cardero Resource Corp. ("Cardero" or "the Company") is extremely pleased to announce that it has negotiated an amendment to its agreement with Anglo American plc ("Anglo") with respect to the Baja California Norte, Mexico, IOCG joint venture. Effective immediately Cardero will assume operatorship of the project and take over completing the permitting process and the first stage of diamond drill testing at San Fernando and Amargosa.
Under terms of the revised agreement Cardero must incur expenditures of not less than US$500,000 within a twelve month period drill testing existing targets defined by Anglo in order to earn an additional 10% interest, thereby increasing its total to 40%. Furthermore, Cardero may earn an additional one tenth of one percent (0.1%) interest for each additional US$10,000 expended.
On spending US$500,000, Cardero, may elect to terminate its expenditure period by delivering a resumption notice to Anglo. Anglo then has the right to immediately resume incurring aggregate expenditures of US$3,700,000 for a 60% interest in the project with corresponding expenditure dates adjusted to reflect the Cardero operating period. Should Anglo decline to participate at this stage then upon dilution to 51% interest, Anglo must either elect to resume exploration expenditures or terminate the agreement whereby Cardero retains 100% interest in the project.
As operators Cardero will drill test the Amargosa and San Fernando IOCG systems. The San Fernando system is associated with the former Mina San Fernando. Mina San Fernando was worked from 1769 to 1907 to reported depths of approximately 140 to 180 metres and with 800 metres of drifting on 6 levels. More importantly, historic records indicate that exploitation abruptly ceased in 15 feet of 'massive chalcopyrite' mineralization.
Sampling of high grade pillars at 120 foot depth in 1910 reportedly returned values of 25%, 35.5% and 18.8% copper (Cu) and in 1922 a 'systematic' channel sample from disseminated mineralization returned 71 feet at 2.26% Cu.
In summary the large, coherent primary target was defined by Anglo utilizing district scale structural analysis, geological mapping and petrographic studies, stream sediment and soil geochemistry and three different geophysical techniques: magnetics, gravity and induced polarization (IP).
There are two primary targets on the property:
The Eastern Anomaly, spatially associated with the former Mina San Fernando, has modeled chargeabilities ranging from 40 to 70 milliseconds (ms), extends circa 600 metres east-west by 700 metres north-south and remains partially open to the west and open to the east and at depth.
The West Anomaly, located on the western flank of the magnetic anomaly, has modeled chargeabilities ranging from 30 to 40 ms, extends over an area of approximately 500 metres east-west by 500 metres north-south and remains open to the west and at depth.
An additional IP survey, conducted by Anglo in January 2005, provided greater near surface detail and confirmed the original 2004 survey. An extra IP line, 100 metres west of the 2004 westernmost line indicated that chargeabilities increase to the west and remain open.
Finally very detailed petrophysical analysis was conducted by Anglo in May 2005 to better constrain and prioritize the geophysical models. The results indicate that the copper - magnetite mineralization at San Fernando is characterized by very high magnetic susceptibility, high density, high chargeability and low resistivity, that is, a text-book IOCG geophysical response, similar to the characteristics exhibited by the Eastern Anomaly (coincident magnetic - gravity - chargeability high, resistivity low).
If required Cardero will be able to draw upon the full technical resources of Anglo during the program and Anglo personnel will be on-site during the drill phase. Meanwhile Anglo has informed the Company that as far as they are aware no additional reports are required. According to Anglo final drill permits are expected to be in place by the end of July 2005.
The following is a summary of Anglo's project permitting process in 2005:
January 10th: Drill application submitted and reviewed.
February 10th: Additional information requested.
April 12th: Re-submittal of report and review of application.
June 6th: Change of land use report requested.
June 27th: External consultant hired to prepare land use report.
Cardero has been active in Baja California Norte since 2001, and has continued to cultivate and maintain strong working relationships with the various local and federal officials. The opportunity for Cardero to assume operatorship in the region has met with strong support from the local regulators, including Señor Sergio Tagliaprieta, the Economic Development Secretary, State of Baja California Norte and Martin Amador, Director of Mining Promotion, Baja California Norte, who stated, "We believe that if successful, Cardero's exploration could have significant long term positive impacts on the economic opportunities in the region".
The Regional Sub-Director of Mines, Señior Juan Antonio Calzada, also welcomed Cardero's active management of the project by stating, "Cardero has demonstrated a continuing commitment to developing successful mining activities in Baja California Norte and my department is fully supportive of its activities in the region."
"Increasing our stake in the Baja project is an excellent opportunity with significant upside potential and reward for Cardero's shareholders, San Fernando remains one of the most compelling untested IOCG targets in the Americas," stated Henk Van Alphen, president of Cardero. "Cardero has the best personnel, infrastructure and the commitment to get the Alisitos belt drilling program on track and underway. Importantly as operators we will be in a position to provide timely updates of this exciting project."
EurGeol Mark D. Cruise, Cardero's Vice President-Exploration, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information contained in this news release.
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Cardero Resource Corp. ("Cardero" or the "Company") is pleased to provide the following update on corporate activities:
Mexico
Baja Iron Oxide Copper Gold
Cardero received necessary "power of attorney" documents on July 13, 2005 to become operator of joint Anglo American / Cardero IOCG exploration project and assume the lead in finalizing drilling permits. Cardero is currently completing a "Land Use" report, the final required document and on submittal, the company expects to obtain the required drill permits. As operators Cardero is looking forward to commencing the long-awaited diamond drilling tests at several of the Anglo defined priority targets.
Peru
Iron Sands
The Company is pleased to report that the release of the positive Midrex - Kobe Steel metallurgical tests continues to generate considerable industry interest with several major companies contacting Cardero to request additional information. The test results, where titanium and vanadium were successfully liberated from the company's magnetite sand sample, were described by Midrex - Kobe Steel as 'highly encouraging'. Subsequently an additional 6,500 hectares were staked bring the total prospective iron sand package to 32,000 hectares (320 km2). A regional geochemical sampling and mapping program of the large property has commenced. In other initiatives Cardero engineering staff has directed several laboratories to commence examining the feasibility of liberating titanium and vanadium from the resultant slag, which if successful, could have a significant positive financial impact on any subsequent operation.
Argentina
Cerro Atajo
Detailed mapping, at 1:2500 scale, of prospective alteration and associated copper oxide mineralization commenced in late July. A pole: dipole Induced Polarization (IP) survey will commence in mid to late August and initial drill testing is scheduled for September.
Management - Corporate
New Director
Cardero is also pleased to announce that Michael W. Kinley, C.A. has agreed to join the Board of Directors replacing Mr. Ken Carter who, due to other commitments, resigned from the board effective June 30, 2005. Cardero wishes to thank Mr. Carter for his invaluable knowledge, expertise and efforts on behalf of the Company.
Mr. Kinley possesses extensive public company experience and, the financial qualifications to play an important roll as the Company continues to rapidly expand. Mr. Kinley received his Chartered Accountant designation in 1973, was admitted to the Chartered Accountants of Nova Scotia in 1980 and the Chartered Accountants of British Columbia in 2003 and was a partner for a large national accounting firm.
The Company further announces that pursuant to it Stock Option Plan, incentive stock options have been granted to Mr. Kinley of 200,000 shares in the capital stock of the Company. The options are exercisable at a price of $3.00 per share on or before July 29, 2007.
The Company is well financed with approximately $16 million in the treasury and well positioned to continue to explore its projects in Mexico, Peru, and Argentina. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the American Stock Exchange (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). The Company is actively evaluating gold, silver, copper and iron ore-copper-gold (IOCG) projects, which will ensure the recognition of Cardero as a world-class exploration and development company.
For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.
On Behalf of the Board of Directors of
CARDERO RESOURCE CORP.
"Henk Van Alphen, President" (signed)
Hendrik van Alphen, President
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Cardero Resource Corp. ("Cardero" oder die "Firma") freut sich, um das folgende Update auf korporativen Tätigkeiten zur Verfügung zu stellen:
Mexiko
Baja Eisen-Oxid-Kupfer-Gold
Cardero empfangene notwendige "Energie des Rechtsanwalts" Dokumente an Juli 13, 2005, Operator der gemeinsamen Anglo Amerikaner-/Carderoiocg Erforschung zu werden Projekt und die Leitung anzunehmen, wenn bohrenerlaubnis beendet wird. Cardero führt z.Z. einen "Flächennutzung" Report, das abschließende erforderliche Dokument durch und auf submittal, erwartet die Firma, die erforderliche Bohrgeräterlaubnis zu erreichen. Wie Operatoren Cardero die, langerwarteten Diamantbohrungtests zu beginnen auf mehrere der Anglo definierten Priorität Ziele freut.
Peru
Eisen-Sande
Die Firma freut sich, zu berichten daß die Freigabe des positiven Midrex - Kobe metallurgische Stahltests fährt fort, beträchtliches Industrieinteresse mit einigen Hauptfirmen zu erzeugen, die mit Cardero in Verbindung treten, um um zusätzliche Informationen zu bitten. Die Testergebnisse, in denen Titan und Vanadium erfolgreich von der Magnetit-Sandprobe der Firma befreit wurden, wurden durch Midrex - Kobe Stahl beschrieben, wie ' in hohem Grade anregend '. Nachher wurden zusätzlichen 6.500 Hektars holen das zukünftige Eisensandtotalpaket zu 32.000 Hektars angebunden (320 KM2). Ein regionales geochemisches Musterstück- und Diagrammprogramm der großen Eigenschaft hat begonnen. In anderer Initiativen Cardero Technik hat Personal einige Labors verwiesen, um zu beginnen, die Möglichkeit des Befreiens des Titans überprüfend und Vanadium von der resultierenden Schlacke, die, wenn erfolgreich, eine bedeutende positive finanzielle Auswirkung auf jeden folgenden Betrieb haben könnte.
Argentinien
Cerro Atajo
Ausführliches Diagramm, bei der 1:2500 Skala, der zukünftigen Änderung und verbundenen der Kupferoxidmineralisierung begonnen in spätem Juli. Ein Pfosten: Dipol verursachte Übersicht der Polarisation (IP) beginnt in mittlerem bis spätem August und die Initiale Bohrgerätprüfung wird für September festgelegt.
Management - Korporativ
Neuer Direktor
Cardero freut auch, sich zu verkünden, daß Michael W. Kinley, C.A. damit einverstanden ge$$$WESEN ist, die Direktion zu verbinden Herrn Ken Carter der, wegen anderer Verpflichtungen ersetzend, abgefunden vom Brett wirkungsvoller Juni 30, 2005. Cardero möchte Herrn Carter für sein unschaetzbares Wissen, Sachkenntnis und Bemühungen im Namen der Firma danken.
Herr Kinley besitzt umfangreiche Aktiengesellschaft Erfahrung und, die finanziellen Qualifikationen, um eine wichtige Rolle zu spielen, während die Firma fortfährt, schnell zu erweitern. Herr Kinley empfing seine Wirtschaftsprüferkennzeichnung 1973, wurde zu den Wirtschaftsprüfern von Neuschottland 1980 und zu den Wirtschaftsprüfern von Britisch-Kolumbien 2003 zugelassen und war ein Partner für eine große nationale Wirtschaftsprüfungsfirma.
Die weitere Firma verkündet, daß gemäß ihm Aktienoptionsplan, anspornende Aktienoptionen Herrn Kinley von 200.000 Anteilen am Stammkapital der Firma bewilligt worden sind. Die Wahlen sind zu einem Preis von $3.00 pro Anteil an oder vor Juli 29, 2007 exercisable.
Die Firma wird gut mit ungefähr $16 Million im Fiskus und im Brunnen finanziert, die in Position gebracht werden, um fortzufahren, seine Projekte in Mexiko, in Peru und in Argentinien zu erforschen. Die allgemeinen Anteile der Firma werden z.Z. auf dem TSX Wagnis-Austausch (Symbol CDU), der amerikanischen Börse (Symbol CDY) und der Frankfurt Börse (Symbol CR5) verzeichnet. Die Firma wertet aktiv Gold-, Silber, Kupfer und Eisen Erz-Kupfer-Gold (IOCG) Projekte aus, die die Anerkennung von Cardero als Welt-Kategorie Erforschung- und Verwertungsgesellschaft sicherstellen.
Für weitere Details über Firma beziehen der Leser der Web site der Firma (www.cardero.com), kanadischen regelnden Archivierungen auf SEDAR an www.sedar.com und Vereinigte Staaten auf regelnden Archivierungen auf EDGAR an www.sec.gov.