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The directors of Liquefied Natural Gas Limited (ASX: LNG), MZI Resources (ASX: MZI), Kogi Iron (ASX: KFE), Rutila Resources (RTA: RTA), Oro Verde (ASX: OVL) and Condor Blanco Mines (ASX: CDB) will be presenting:
www.proactiveinvestors.com.au/companies/...bt-issue-53664.html
Condor Blanco Mines edges closer to €10 million funding for debt issue
Analysis
With €10 million funding in place, Condor Blanco Mines can now focus on bringing the Marianas magnetite tailings project in Chile on stream and complete acquisition of the South African hard coking coal assets.
Cash flows from Marianas tailings will allow the company to tap further funding to ramp up production at the iron ore project. The South African projects also appear to be highly prospective with the company looking to either bring in a joint venture partner or adding value before making a trade sale to pay down debt.
Despite these developments, Condor Blanco Mines remains lightly rated at its current share price of just $0.006, (market cap of $2 million) if a line is taken through ASX-listed Universal Coal (ASX:UNV) which is now capped at $44 million after its South African coal project is close to delivering its first coal in March.
Universal is ramping up its Kangala mine, in Witbank, Mpumalanga to 2.1-million saleable tonnes a year, selling coal to South African power utility Eskom and export markets through an offtake agreement.
So while early days, Condor's coal projects in South Africa look to have potential to put its current market cap of circa $2 million to shame and tilt growth in valuation from Marianas to the coal projects.
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| Wertung | Antworten | Thema | Verfasser | letzter Verfasser | letzter Beitrag | |
| 2 | 202 | Condor Blanco Mines Aktie | edjack1987 | Team SparFreund | 10.07.15 14:27 | |
| 3 | 4 | Condor Blanco Mines | brunneta | jumberone | 22.09.11 11:23 |