Some excellent news today from the copper explorer and budding iron ore producers Condor Blanco Mines (TSX A1H4KP). For, as the company reported to date, to start iron ore production on the newly acquired Marianas project in Chile in December 2012 - and it has also found a buyer already.
Condor Blanco Mines has signed a letter of intent that is a purchase agreement with the Chinese Changes Investment Guarantee (China) Company and Jiangxi Copper Company Hongyang (CIG & JCC). Therein it is necessary to address the short-term decrease of iron ore and other long-term to the decrease of copper from other Condor Blanco Mines projects in Chile.
The exact details of the letter of intent are still confidential, but Condor Blanco has already approved immediate price fixing in relation to the project to be delivered by the Marianas iron ore. The final details of the total offtake agreement, the companies intend to set up the end of the year. Then after binding contracts should also be signed.
It is planned that Condor Blanco takes to manufacture a finished product from iron ore Marianas in December this year and the first sales will follow in February 2013. The agreement reached in this decision was of great importance to the company, but they are planning.
In addition, Condor Blanco has already entered discussions with CIG & JCC on the development of Chile's other projects of the company, who have in the opinion of Condor Blanco considerable potential. Whose development is now that the winter is over in Chile, to be accelerated.
Also on the main asset of the company, the gold and silver project Carachapampa it will now go ahead quickly. After the first drilling campaign was a success, according to the company, should we want to initiate a second round of drilling.
Understandably Condors Managing Director Glen Darby finished the deal with the Chinese company considered a success. Because of this, so Darby further, the company will quickly get the first cash flow and help to fund the exploration and development of other larger projects of the company.
Note: The following article does not constitute recommendations to buy or sell, either explicitly or implicitly, they are to be considered a warranty of any price movements. The GOLD INVEST Media GmbH and its authors accept any liability in this regard. The articles and reports are for information of the readers and do not whatsoever call to action represents Between GOLD INVEST Media GmbH and the readers of this article will not cost a contract and / or consulting relationship, as our products only to the companies, but not on the investment decision, refer. We point out that partners, authors and contributors of the GOLD INVEST Media GmbH can keep hold shares of each company or raised and thus a potential conflict of interest. We can not exclude that other market letters, media or research firms discuss our recommended values for the same period. Therefore, it may come in this period symmetric information and expression generation.
