Cardero Resource acquires Pampa de Pongo project
Cardero Resource Corp CDU
Shares issued 32,805,409 Mar 11 close $3.67
Fri 12 Mar 2004 Property Agreement
The TSX Venture Exchange has accepted for expedited filing documentation of
an option agreement dated Feb. 2, 2004, between the company and Minera
Koripampa del Peru SA (the optionor, insider: Carlos Ballon), whereby the
company may acquire a 100-per-cent interest in the Pampa de Pongo project
(covering approximately 8,000 hectares) located approximately 60 kilometres
southwest and approximately 400 kilometres south of Lima, Peru.
Consideration consists of 70,000 common shares of the company and $65,000
on or before the closing date. The company is also committed to assuming
and performing all commitments related to an underlying agreement with Rio
Tinto Mining and Exploration Ltd., which consists of paying certain arrears
taxes in the amount of $65,900.38 (paid) and paying Rio Tinto the sum of
$500,000 in stages from Jan. 27, 2005, to Jan. 27, 2008.
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