Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FWB:CR5) announced that the RCMP has decided to take no further action and close the investigation on the Company’s activities in regards to the Sheini Project in Ghana.
As quoted in the press release:
As disclosed on June 25, 2012 (NR12-15), Cardero initiated a robust internal investigation when the RCMP revealed that it had received a complaint in relation to the Company successfully securing the right to explore and develop the Sheini Hills iron ore asset in Ghana. The Company then voluntarily shared the results of its internal investigation, which was conducted by specialized external legal counsel at Gowling Lafleur Henderson LLP, with the RCMP. The RCMP praised the fulsome and comprehensive nature of the Company’s investigation, and thanked Cardero for its cooperation in the matter.
Cardero Resource Corp. President and CEO, Michael Hunter said:
We are pleased that the authorities have closed their investigation as it has been Cardero’s view from the outset that these allegations were unfounded and without merit. Cardero is fully committed to doing business with integrity in every jurisdiction in which we operate, and are happy to have this distraction firmly behind us.
Get our expert guide to base metals investing FREE!Download this FREE Special Report, Investing Opportunity: Using LME Prices and Base Metals News.