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|some excellent updates
|this is an australian stock asx:cdu possibly the worlds cheapest copper miner due to supergene copper zone . ernst henrymine, xstrata mine fits in 4 times roughly into cdu . imom this is a must see and research
|Cardero Iron Ore Projects Update
Glenn Hoffman Appointed President of Iron Ore Subsidiary
Cardero Resource Corp. ("Cardero" or the "Company") (TSX: CDU, AMEX: CDY, Frankfurt: CR5) is pleased
to announce that Mr. Glenn Hoffman has joined the Cardero group as President of Cardero Iron Ore Company
Ltd. ("Cardero Iron"), its wholly owned iron ore subsidiary. Mr. Hoffman will be responsible for advancing
Cardero's extensive iron ore portfolio during the transition from discovery phase through feasibility studies,
project development and ultimately to production. Cardero's two key iron ore projects in Peru are the Pampa El
Toro Iron Sands Project and the Pampa de Pongo Iron Deposit.
Cardero Iron Ore Projects Update
Pampa El Toro Iron Sands
Cardero Iron has recently arranged for the manufacture and delivery by Eirez Pennsylvania of a magnetic pilot
plant to facilitate the most effective recovery of a 20 tonne magnetite concentrate sample for subsequent
pyrometallurigical pilot plant testing at the Midrex Technologies, Inc. ("Midrex") research facilities in North
Carolina. The results will form a critical component of ongoing feasibility studies, enabling Cardero Iron to
develop not only a suitable processing strategy to separate the magnetite from the sand, but also to potentially
recover both titanium and vanadium from the resultant slag. The magnet is scheduled to arrive at Pampa el Toro
in the middle of the fourth quarter of 2007.
Pampa de Pongo
Situated only 40 kilometres from tide-water, Pampa de Pongo is the largest undeveloped iron resource on the
Western seaboard of the Americas. In light of escalating global iron prices and strong iron market fundamentals,
Cardero is currently finalizing plans for a 30,000 metre definition drill campaign designed to upgrade the National
Instrument 43-101 Inferred Resource of 953Mt @ 44.7% iron and 0.12% copper to a combination of Indicated
and Measured status. The drilling program at Pampa de Pongo is anticipated to commence in the fourth quarter of
2007, following which Cardero Iron will seek a major partner in order to enable the timely exploitation of this
world-class undeveloped iron ore resource.
The Company also continues to negotiate for additional iron ore projects in both North and South America.
Glenn Hoffman, President, Cardero Iron
Mr. Glenn Hoffman, of Lancaster, South Carolina, has been appointed as the President and Chief Executive
Officer of Cardero Iron, effective August 23, 2007. Mr. Hoffmann, a graduate of the Illinois Institute of
Technology (B.Sc. Metallurgical & Materials Engineering) and Michigan Technology University (M.Sc.
Metallurgical Engineering), joins Cardero Iron from Midrex, a leading international process engineering and
technology company, where he spent the past 30 years.
While at Midrex, Mr. Hoffman held a number of senior positions including Manager of Research and
Development and Manager - Coal Based Technologies & Melting. He has been instrumental in the development
of a variety of new innovative iron-making technologies which has enabled Midrex to become the undisputed
global leader in direct reduced iron (DRI) and associated next generation technologies|
|SUBJECT: Iron Property spin-off valuation Posted By: RTO
Post Time: 8/8/2007 10:51
Folks, I would appreciate any input on valuations. I know that this has nothing to do with CDU, but my expertise on iron deposit valuations is very limited and I assumed that someone here could help me out.
According to their last MD&A, T.NIO wants to spin-off their iron property in the James Bay area located about 80 kilometres from the mouth of the Great Whale River on the Hudson Bay, Quebec
This is a billion tonne deposit of Magnetite Iron (36%FE)
-Deep-water port potential in the area.
-100,000 kW hydro generation within 25km
-Suitable for open pit mining
There are 18,900,000 shares outstanding @ .70 = market cap. $13mil.
Thanks in advance...
- - -
SUBJECT: RE: Iron Property spin-off valuation Posted By: ValuePro
Post Time: 8/9/2007 11:15
RTO, you ask a tough question, but let me offer the following.
Here is a price history on iron. Look at "Fines."
Now apply a rule of thumb that a good ore deposit (i.e. one of world class or near world class capacity) can often sell for 10-20 percent of the insitu value based on the average value of the ore over the last five years. In this case, substitute "Fines" for ore, though some other minor adjustment should probably be made for processing. How much I don't know, but I believe it minor, perhaps even nominal.
Another adjustment may be included in regards to the markets perception as to whether future prices will be rising or falling.
This process may give you some ideas to work with, but the potential range in possible values will be quite broad, based on who is doing the estimate, what infornmation is available to work with, how reliable that information may be, and what biases the estimator may hold.
I hope this helps, and good luck to you.
VP in AZ|
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