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Microcap & Penny Stocks : CDCH Cerro Dorado Inc.
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To: Jim Bishop who wrote (692)8/11/1999 11:35:00 AM
From: CIMARead Replies (1) of 958
 
Great description of CDCH from the Medinah thread written by Mike Gold:

Cerro Dorado was formed strictly to develop the Lobo/Fortuna de Lampa claims.
CDCH paid 5.5 million shares of R-144 stock for the Lobo/Fortuna de Lampa claims which is, by far, the company's main asset. These claims were owned by Juan Jose Quiano-never owned by Medinah Gold or Medinah Mining
CDCH paid .5 million shares to purchase 60% of Ipun Island from Medinah Gold. CDCH paid .1 million shares to reimburse Medinah Mining for expenses at Ipun Island. .5 million shares remain from the original shell. 4 million shares issued to finance exploration activities. So of the total 10.7 million shares-only about 5.5% of the shares went towards Medinah Mining/Gold-hardly what I would consider "a bunch"!
Already-CDCH actually owns outright the LOBO claims-something that took quite a long time for Medinah to accomplish for their Lipangue claims. The location of their claims adjacent to Lipangue makes it an incredible play as any Major that eventually takes out Lipangue will surely want all the highly mineralized adjacent claims. Since CDCH already owns the claims, they are already in an immediate position to deal with the Majors. I suspect that after their initial exploration phase is completed, a JV or buyout will happen soon after.
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