Description
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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In-depth Cuervo Resources Inc. Proactive Investors Articles
Recent Cuervo Resources Inc. news
- 23/04/2010 Cuervo Resources raises C$0.7m to advance Cerro Ccopane iron ore project
- 10/02/2010 Cuervo audio intervew transcript with Brian Berner, Chairman and CEO
- 01/02/2010 Brian Berner, Chairman & CEO of Cuervo Resources, talks about iron ore resources, the potential of the projects and their geographical benefits
- 22/12/2009 Cuervo Resources confident to find JV partner for Cerro Ccopane project as iron ore prices and demand rise
- 17/12/2009 Cuervo Resources closes C$0.35 mln fundraising, seeking JV partner for Cerro Ccopane Iron Ore Project
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Company Statement:
Cuervo Resources Inc. was formed in early 2005 with the ambition of capitalizing on the then emerging strength of international iron ore markets, particularly those in the Pacific Rim. Perú was identified as a particularly attractive exploration target, principally because of its well established mining tradition and infrastructure, and its well regarded legal and banking systems. The Board of Directors provided strategic insight, drawing on their background and knowledge of iron ore markets and geology. Today, Cuervo Resources holds an unencumbered 100% interest over 25,000 ha of iron prospective properties in Perú. These properties hold, in the opinion of management, good prospects for finding upwards of a billion tonnes of commercially exploitable iron mineralization.
The Board of Directors is focused on seeking a strategic joint-venture partner to provide funding that could transform the geological promise of Cuervo’s Cerro Ccopane property into a resource reality; Cardero Resource’s (TSX-CDU) pending sale of their Pampa de Pongo iron property in southern Perú to Chinese interests for $US100 million provides a benchmark price for a joint venture. This transaction underscores the desire of steelmakers to secure and control a supply of iron ore.
Current Operations:
Cerro Ccopane Property
Southern Perú
The current exploration focus is on the 13,600 ha Cerro Ccopane property. To date, Cuervo Resources has reported 121 holes on the Ocupura zone and a resource estimate has been prepared showing 56 million tonnes “measured and indicated”, grading 46.7% Fe and 51 million tonnes “inferred”, grading 43.7% Fe. Importantly, the Orcopura zone is one of six zones identified on the Cerro Ccopane property by surface showings and geophysics. In November 2007 the company initiated metallurgical testing of core samples to determine the amenability of the material to magnetic separation of contaminants and by-products. That testing has indicated that most contaminates (sulphur and copper) can be removed, yielding an upgraded iron concentrate, grading 66% to 69%. A preliminary transportation study was also commissioned which supported the feasibility of moving iron from Cerro Ccopane to the Pacific tidewater port at Matarani. That report has been succeeded by a more comprehensive study completed in 2009.
For further details please CLICK HERE
Additional Properties
The company currently has acquired an additional 13,061 ha of wholly owned mining concessions that cover prospective iron properties in seven separate areas of northern and southern Perú. This total includes 5,200 ha of additional mining concessions located in the vicinity of the Company’s Cerro Ccopane Property.
The northern properties have excellent infrastructure being located close to the Pacific coast and the Pan American Highway. They are also found to be at relatively low altitudes in arid areas that can be worked year round. Portions of some of the concessions have been exposed to small-scale mining and iron mineralization on these properties consists of massive magnetite, hematite or goethite. The most advanced of the Cuervo properties are considered to be the Chimbote concessions, which are permitted for advanced exploration; these concessions are located approximately 40 km from the steel foundary of Siderperu located at Chimbote, Ancash.
The company continues to carry out reconnaissance field activities to evaluate these and other prospects in Perú.
Management
BRIAN BERNER-H.B.B.A
Chairman of the Board and Chief Executive Officer
JOHN M. SIRIUNAS-P.Eng., B.A.Sc., M.A.Sc.
President, Chief Operating Officer, Director and Secretary of Cuervo
GORDON D. WATTS-P.Eng., B.A.Sc.
Director of Cuervo
VELASQUEZ SPRING-P.Eng. B.A.Sc.
Director of Cuervo
BRIAN M. CLONEY-CA, ACC
Chair of the Audit Committee and a Director of Cuervo
DANIEL E. HAMILTON-C.A., B. Comm., B.Admin.
Chief Financial Officer
For further details please CLICK HERE
Major Shareholders
Share Structure
at December 22, 2009
Common Shares Issued - 34,493,750
Options Granted - 3,420,000
Warrants Issued - 4,990,000
Fully Diluted - 42,903,750
Debt - Nil
Contact Information
247 Major Street
Toronto, ON
Canada M5S 2L5
T 416 203 3957, ext.202
investors@cuervoresources.com
Tom Berner, Investor Relations
Corporate Information
Peruvian Subsidiary:
Minera Cuervo S.A.C.
Av. José Galvez Barrenechea 566
Oficina 101
San Isidro, Lima, Perú
Tel. 416-203-3957, ext. 702
karina.yavar@cuervoresources.com
Karina Yavar, Administration
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