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Market: CNSX
Sector: General Mining
Epic: FE
News: Latest news
Web Site: Cuervo Resources Inc.
Other Articles: 10-02-201001-02-201022-12-2009 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

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Cuervo Resources Inc.

Cuervo Resources Inc.

Cuervo Resources Inc.is a public Canadian exploration company that completed an initial public offering on May 30, 2007. The company has acquired and is drilling properties prospective for iron ore in Perú through its Peruvian subsidiary Minera Cuervo S.A.C. Cuervo Resources Inc. is listed on the Canadian National Stock Exchange (CNSX) under the symbol FE. The company also trades on the Frankfurt Exchange under the symbol CRR.

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Tuesday, December 22, 2009

Cuervo Resources confident to find JV partner for Cerro Ccopane project as iron ore prices and demand rise

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Cuervo Resources Inc (CNSX: FE, FWB: CRR) said that the outlook for finding a joint venture partner for its Cerro Ccopane iron ore project in Peru has improved, adding that the company’s share price did not reflect the developments that have taken place at Cuervo or in the industry in general.

These developments included the increase of iron ore spot prices from US$60/lb to US$100/lb, while China’s iron ore imports have reaches record levels. The company has also noted the decision from FTSE 100 base metal focused miner Xstrata (LSE: XTA) to enter the iron ore industry for the first time with a US$50 million investment for a 50% interest in an iron ore project located in the Democratic Republic of Congo.

The company got another confidence boost from the sale of Caldero Resource’s Pampa de Pongo iron ore property in southern Peru to a Chinese steelmaker for US$100 million, also saying that apart from China, steelmakers and iron ore producers in India, South Korea, Australia and Brazil were not satisfied with their current supplies of THE raw material.

As for the company’s own project Cerro Ccopane, Cuervo said that the construction of a slurry pipeline to the coast was found to be the solution making the most economical sense by a study by Sandwell Engineering, addressing the transportation issues at the property that have been a matter of concern by investors. Cuervo also defended its decision to list on the Canadian National Stock Exchange (CNSX), saying it was a “streamlined, fully disclosed, fully accredited and cost effective alternative.”

“As an emerging company, we have been able to concentrate our focus on the Cerro Ccopane project without being overly burdened. The company does recognize the need for its shares to be listed and traded on a senior exchange, which would be advantageous to attract institutional investors. This opportunity should be achieved upon gaining project financing from a joint-venture partner,” said chief executive and chairman of Cuervo, Brian Berner.

Finding a partner will help the company fund the planned drilling program with an estimated cost of US$40 million to explore two major target zones at the property.

An NI43-101-compliant resource estimate for the Orcopura zone of mineralization currently stands at 56 Mt (million tonnes) grading 46% iron in the measured and indicated categories, while a further 51 Mt grading 43% iron is reported to be present in the Inferred category. Orcopura is only one of six known zones at the property, which is believed to have the potential to contain up to 2 billion tonnes of iron ore.

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