Buy Cardero Resources Corp. (CDU.TSXV
Here’s one I like: Cardero Resources Corp. (CDU.TSXV).
They’re very smart prospectors, focused on iron and precious metals properties in Peru, Mexico, and the northern United States. Remember that company who picked up that iron deal in Peru for just over half a million and sold it to a Chinese consortium for $100 million five years later when iron prices perked up? Yeah, that was them (Wahoo, ring the cash register boys!) That raised a few eyebrows in my small circle of friends, I can tell you.
Cardero has just finished drilling off what BHP once described as “the largest known ilmenite (FeTiO3) resource in North America” — the Titac property in Minnesota. Iron, titanium, copper. I know no one is doing cartwheels over Minnesota but you know — back in the day, old man Hearst, who was William Randolph Hearst’s father and a ’49er and a helluva prospector – discovered a mine or two thereabouts, and I believe one of them is still operating. So it’s mining country, as well as the headwaters of the Mississippi.
Anyway, the company has an NI compliant resource calc pending on that one; plus a handful of drill results from some precious metals properties elsewhere in Mexico, and we’re also due for an update from the Pampa El Toro iron sands project located in the region south of Peru’s Nazca plain. Interesting stuff, all of it. Stock trades at $1.90 Cdn on fairly thin volume — under 100k per day.
The stock was halted yesterday, so I expect we’ll get news on one or all of those projects today.
Careful out there.
With respect to my earlier message on Cardero Resources (CDU.TSXV), the company has just issued a press release unrelated to any of the projects I mentioned; In fact, they’ve announced the acquisition of a private coal company with properties in British Columbia’s northeastern Peace River region.
The company in question, Coalhunter Inc.,wholly owns the Carbon Creek deposit which was drilled by Utah Mines and reportedly has an “in-place” coal tonnage estimate of 132.8 million short tons.
Read more here.