Articles Tagged "FWB:CR5"

Cardero Resource Reports on Metallurgical Coal Quality at Carbon Creek

Coal – Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FWB:CR5) reported on coal quality results from its Carbon Creek Metallurgical Coal deposit. Wood Mackenzie completed a comprehensive benchmarking study, which yielded positive results. Highlights include the Hard Coking Coal (HCC) and Semi-Soft Coking Coal (SSCC) being close to benchmark specification. Also, indicative metallurgical product coal quality is positive.

Cardero Resource Corp. Announces Demand for Payment From Secured Creditors

Coal – Cardero Resource Corp. (TSX:CDU,NYSE:MKT,FWB:CR5) received a demand for payment of certain outstanding indebtedness to certain affiliates of Luxor Capital Group, LP., who are secured creditors of the Company, and are the holders of senior secured notes of Cardero. Cardero Coal Ltd., the Company's wholly-owned subsidiary, was also served with a demand for payment for the Indebtedness in its capacity as guarantor in connection with Notes. The demand is in the amount of $5,668,513.90, and payment is to be on or before August 5, 2013. Payment of the outstanding legal fees have been made, and the Company disputes that it was provided with proper notice to pay the legal fees, and takes the position that there has therefore been no default and that the demand for payment of the Notes is invalid.

Cardero Resource Reports Annual General Meeting Results

Coal – Cardero Resource Corp. (TSX:CDU,NYSEMKT:CDY,FWB:CR5) reported that all motions for approval at its 2013 Annual General Meeting were passed, including re-election of directors and an amendment to the Articles of the Company which implements a requirement for advance notice in connection with the nomination of individuals for election as director of the Company.

Cardero Acquires 4 Carbon Creek Coal Licenses and Completes Secured Note Private Placement Financing

Coal – Cardero Resource (TSX:CDU,NYSEMKT:CDY,FWB:CR5) successfully completed a private placement financing of Senior Secured Notes to raise net proceeds of $5,077,000 (USD 5,000,000). The Company also announced that Cardero Coal Ltd. exercised its option to acquire the shares of a private company that holds 4 coal licenses which form part of the Carbon Creek Metallurgical Coal Project.

Cardero Resource Signs LOI with Coal Transportation Barge

Coal – Cardero Resource Corp. (TSX:CDU,NYSEMKT:CDY,FWB:CR5) signed a letter of intent with Canadian Forest Products Ltd. for the MV Williston Transporter to transport metallurgical coal from Carbon Creek to the railhead at Mackenzie, BC in 2014. Under the LOI, the Companies will enter into two definitive agreements, being a Charter Party relating to the MV Williston Transporter and a Timber Harvesting Agreement relating to mine site logging before mine construction.