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. (TSX:CDU,NYSE:CDY,FWB:CR5) closed its $5,700,000 private placement of senior secured notes, and paid in full its debt to certain affiliates of Luxor Capital Group, LP., secured creditors of the Company, as demanded by Luxor on July 24, 2013.
Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FWB:CR5) acknowledged a news release issued by Luxor Capital, which stated that a letter was sent to the Company as set out in the news release, but no such letter was received. The Company will provide further information on the matter as it becomes available.
Cardero Resource Corp. (TSX:CDU,FWB:CRS) arranged a USD $5,700,000 private placement of senior secured notes to pay its debt to certain affiliates of Luxor Capital Group, LP. who are secured creditors of the Company. The Company anticipates closing of the financing today.
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.
Saturn Minerals Inc. (TSXV:SMI) Director Stefan Szary spoke with Resource Investing News about his company’s coal, oil and gas assets in Saskatchewan. Mr. Szary said that investors should consider Saturn Minerals because “we have one of the largest coal seams in Canada: 89 meters, shallow, right by a rail, and in the course of that, we have oil and gas seeps and 1500 square kilometres of oil and gas rights as well, in the Williston Basis.”
Challenger Deep Resources Corp. (TSXV:CDE) is a resource exploration and development company focused on creating shareholder value through cash flow and earnings in the Asian coal industry. The Company’s main properties are the near-term production Barito Coal Project and the exploration-stage Tabang Coal Project both in the Kalimantan region of Indonesia.
Cardero Resource Corp. (TSX:CDU,NYSE:CDY,AMEX:CDY,FWB:CR5) announced that Michael Hunter resigned as the Chief Executive Officer, President, and Director of the Company, effective March 19, 2013. Hendrik van Alphen was appointed as the new Chief Executive Officer and President of the Company.
Prophecy Coal Corp. (TSX:PCY,OTCQX:PRPCF,FWB:1P2) announced a non-brokered private placement of up to 60,000,000 units for the total proceeds of up to $8,400,000. Each unit is at a price of $0.14 per unit.
Prophecy Coal Corp. (TSX:PCY,OTCQX:PRPCF,FWB:1P2) recieved a non-binding letter of intent from a qualifed EPC contractor on a project equity investement of up to 20% in the Project. The Company was also issued indicative terms and conditions by a major international bank for a proposed loan in order to develop the Chandgana Tal 4X150MW Power Plant Project in Mongolia. 85% of the total value of the commercial contract will be financed by the proceeds of the Loan and certain conditions, such as the execution of all relevant project and loan documentation are precedent to the Loan.