Cordoba Minerals (TSXV: $CDB.V; OTCQX: $CDBMF) President & CEO Discusses Recent Transaction and Short and Long term Opportunities
Point Roberts, WA and Delta, BC - July 20, 2017 (Investorideas.com Newswire) Investorideas.com, a global news source covering leading sectors including mining stocks issues a follow-up podcast interview with Mario Stifano, President and CEO of Cordoba Minerals (TSXV: CDB.V; OTCQX: CDBMF).
Hear the podcast interview: http://www.investorideas.com/Audio/Podcasts/072017-Interview-MarioStifano.mp3
Cordoba Mineral Corp.'s recent conditional approval from the TSX Venture Exchange (TSXV) of a proposed transaction with the company's joint venture, High Power Exploration (HPX) will leave the company better situated according to President and CEO Mario Stifano.
Stifano said that the transaction will revamp Cordoba and update the relationship with HPX from the old joint venture.
"Well, we think this transaction really simplifies the capital structure of Cordoba. Cordoba will now have 100 percent interest in our highly prospective copper-gold San Matias project," he said. "At the same time, we're converting HPX which is a private company led by mining engineer Robert Friedland, into Cordoba. So under the current structure of the old joint venture, HPX effectively had a 56 percent economic interest in the project and they're now converting that into a 66 percent interest in Cordoba."
The transaction will be closed following the company's annual and special meeting on July 27, where it will require a minority shareholder approval, as well as final approval from the TSXV.
Stifano also talked about the optimism in the company surrounding its San Matias project and that continuing drilling has indicated a prosperous year.
"The current resource is just under 54 million tonnes at 0.7 percent copper and 0.37 grams gold," he said. "We've drilled now over 40 holes subsequent to that resource, so we believe that resource will continue to get bigger and better, so we're pretty excited to see what the end result will be for the resource which we expect towards the end of this year."
He also pointed out that the streamlined structure that the transaction will provide enables the company to better explore areas in the property other than the Alacran deposit in San Matias, which only accounts for about 10 percent of the property.
"Alacran is just one deposit in a district that we have 200,000 hectares of ground in," he said. "The San Matias project is just 20,000 hectares. We're just at the tip of the iceberg in this district and having this new consolidated structure will allow Cordoba to not only focus on Alacran and eventuality get that to feasibility, but also allocate our capital where we see the best fit is. That will include also drilling some additional targets in a more aggressive manner."
"We see some great opportunity here to drive shareholder value, not only in the short term but in the long term," he said.
Hear the previous June podcast interview: http://www.investorideas.com/Audio/Podcasts/061217-CDB-MarioStifano.mp3
To hear more Investorideas.com podcasts visit: http://www.investorideas.com/Audio/.
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About Cordoba Minerals: www.cordobaminerals.com
Cordoba Minerals Corp. (TSXV: CDB.V; OTCQX: CDBMF) is a mineral exploration company focused on making the next world class copper gold discovery in Colombia. The Company's San Matias Project is located on the northern extension of the prolific and richly endowed Mid Cauca Gold Belt. The Company has entered into a joint venture agreement with High Power Exploration Inc. ("HPX"), a company indirectly controlled by mining entrepreneur Robert Friedland, whereby HPX can earn up to a 65% interest in the San Matias Project by funding the Project and completing a feasibility study.
The San Matias Project covers over 20,000 hectares with ideal open pit topography. The project is situated near two operating open pit mines, on the national power grid, and easily accessible to paved national highways and roads
Cordoba Minerals (TSXV: $CDB.V; OTCQX: $CDBMF) is a featured mining stock on Investorideas.com
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