CDU
November 08, 2012: NR12-31
Cardero Files Prefeasibility Study 43-101 Technical Report for the Carbon Creek Metallurgical Coal Deposit, Northeast British Columbia
Base Case NPV8 $633 Million (Post-Tax, Post NPI), 23.7% IRR
Pre-production capital reduced to $217M from $301M
Percentage of hard coking coal increased to 60% from 35%
Average clean coal production rate increased to 4.1Mtpa from 2.9Mtpa
Measured & Indicated Resource Increased to 468M from 166M tonnes
Vancouver, British Columbia...
Cardero Resource Corp. ("Cardero" or the "Company") (TSX: CDU, NYSE-MKT: CDY) announces it has received the final Prefeasibility Study ("PFS") 43-101 technical report from Norwest Corporation ("Norwest") relating to the Carbon Creek Metallurgical Coal deposit ("Carbon Creek"), located in northeast British Columbia, Canada. The report is dated November 6, 2012 and has an effective date of September 20, 2012. The report has been uploaded to SEDAR (www.sedar.com) and is available for download from the Company's website ( www.cardero.com ).
The Company cautions that the accuracy of resource and reserve estimates is, in part, a function of the quality and quantity of available data and of engineering and geological interpretation and judgment. Given the data available at the time the PFS 43-101 report was prepared, the estimates presented therein are considered reasonable. However, they should be accepted with the understanding that additional data and analysis available subsequent to the date of the estimates may necessitate revision. These revisions may be material. There is no guarantee that all or any part of the estimated resources will be recoverable. Mineral resources are not mineral reserves and there is no assurance that any mineral resources will ultimately be reclassified as proven or probable reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources have been excluded from the PFS for the purposes of mine planning and financial evaluation. Mineral reserves are included in measured and indicated mineral resources.
Investors are urged to read the PFS 43-101 report in its entirety for full details of the PFS, including the assumptions underlying the PFS. All dollar values throughout this news release are in US$.
QUALIFIED PERSONS
EurGeol Keith Henderson, PGeo, Cardero's Executive Vice President and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis of this news release, and has approved the disclosure herein. Mr. Henderson is not independent of the Company, as he is an officer and shareholder.
Larry Henchel, P.G., John Lewis, P.E., and Larry Messinger (all of Norwest Corporation, Salt Lake City, Utah, USA), each of whom is a "qualified person", as defined by National Instrument 43-101, are each responsible for portions of the Prefeasibility Study 43-101 technical report that forms the basis for this news release and have reviewed and approved the scientific and technical information contained in this news release.
John Lewis, P.Eng (Utah), Registered Member (SME), is the Manager of Underground Mining with Norwest Corporation. Mr. Lewis has 18 years' experience in the coal mining industry with expertise gathered from US mining operations in the areas of longwall mining, continuous mining, pillar retreat with MRS, mine ventilation, mine safety and health regulations, project management, short and long-term planning and mine budgeting.
Larry Messinger, Qualified Professional (MMSA), is a Senior Project Manager at Norwest Corporation and has over 35 years in the mining and energy industries with experience in project management, project evaluation and development, surface coal mine planning and operations, strategic planning, and market analysis. He has performed pre-feasibility studies for coal properties in Mongolia, South America and Mexico.
Lawrence D. Henchel, Registered Member (SME), is Vice President, Geologic Services of Norwest Corporation and has over 25 years' experience in surface and underground coal mining geology, specializing in exploration and evaluation of coal and mineral properties. He has held positions in operating mines as well as participating in regional exploration projects. He is skilled in computerized modeling and reserve analysis of single and multi-seam coal deposits and has worked on projects in numerous countries, including the United States, Canada, India, South America, the Middle East, Mongolia and Southern Africa.
ABOUT CARDERO RESOURCE CORP.
The common shares of the Company are currently listed on the Toronto Stock Exchange (symbol CDU), the NYSE-MKT (symbol CDY) and 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.
"Michael Hunter" (signed)
Michael Hunter, CEO and President
Contact Information:
Nancy Curry, Corporate Communications
Direct Tel: 604 638-3287
General Contact:
Email: info@cardero.com
Toll Free: 1-888-770-7488
Tel: 604 408-7488
Fax: 604 408-7499
http://www.cardero.com/s/news_releases.asp?ReportID=556721
[url=http://peketec.de/trading/viewtopic.php?p=1318099#1318099 schrieb:
ixilon. schrieb am 08.11.2012, 04:18 Uhr[/url]"]
Another Interesting Speculation In The Micro Cap Coal Space
http://seekingalpha.com/article/985141-another-interesting-speculation-in-the-micro-cap-coal-space?source=yahoo
[url=http://peketec.de/trading/viewtopic.php?p=1316712#1316712 schrieb:
ixilon. schrieb am 04.11.2012, 04:12 Uhr[/url]"]Jetzt auch auf Chinesisch
Cardero Resource - Corporate Presentation - November 2012
http://www.cardero.com/i/pdf/ppt/Cardero-October-2012-CN2.pdf
[url=http://peketec.de/trading/viewtopic.php?p=1315749#1315749 schrieb:
ixilon. schrieb am 01.11.2012, 00:42 Uhr[/url]"]
Cardero Increases Non-Brokered Private Placement and Debt Financing
http://tmx.quotemedia.com/article.php?newsid=55485998&qm_symbol=CDU
[url=http://peketec.de/trading/viewtopic.php?p=1269587#1269587 schrieb:
ixilon. schrieb am 05.07.2012, 02:30 Uhr[/url]"]
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