Cardero Resource Signs LOI with Coal Transportation Barge

Industrial Metals

Cardero Resource Corp. (TSX:CDU,NYSEMKT:CDY,FWB:CR5) signed a letter of intent with Canadian Forest Products Ltd. for the MV Williston Transporter to transport metallurgical coal from Carbon Creek to the railhead at Mackenzie, BC in 2014. Under the LOI, the Companies will enter into two definitive agreements, being a Charter Party relating to the MV Williston Transporter and a Timber Harvesting Agreement relating to mine site logging before mine construction.

As quoted in the press release:

This charter party arrangement will terminate at the end of 2015, at which time it is anticipated that Cardero Coal’s purpose-built tug and barge will be commissioned to transport coal through the remainder of the currently proposed mine life.

Click here to read the Cardero Resource Corp. (TSX:CDU,NYSEMKT:CDY,FWB:CR5) press release

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