This is a new scrip expected to float in end January 2011 and basically an exploration group with highly experienced exploration geologist but an MD with relatively lesser experience in mining .
exploring gold and copper in Chile and claiming to produce in 6 months
Condor Blanco (CDB) – Chilean gold and iron projects (gold and iron obviously topical given underlying asset price movements)
· Raising $5m @ $0.20. Mkt cap post listing $15m. 1/4 loyalty option (20c ex price) to shareholders still holding stock 4mths post listing
· Indicative bids for $3.5m of the $5m already on the table. Roadshow starts today in Syd & Melb.
· Tight escrow provisions on seed and vendor capital.
· CDB holds a portfolio of Cu,Au,& iron projects within Chile, the most advanced poised to commence copper production within 3-6mths (estimated annual net cash flows from this project $2-3m, this would help reduce the need for capital raising post IPO and reduce capital burn).
· Exploration targets drill ready, with solid news flow expected consistently through 2011.
· Location in Chile is excellent and surrounded by exceptional neighbours such as Kinross, Exeter, Anglo American, Andina Minerals.
Please do your own research