Opinions
Joe Mazumdar
Cordoba Minerals
CDB-X
TOP PICK
Mar 06, 2017
Stock price when the opinion was issued
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Very high quality exploration target. Understand that exploration is an extremely dangerous game. There is no one he knows that is as good at exploration finance as Robert Friedland. The stock has had a tremendous move, and is a very, very large target. If you own it, use trailing stops.
His position increased in the recent financing. It is partly influenced by the copper price. They will benefit from exploration success more than commodity price increases. He has been around this team for a long time and likes their track record. They have in excess of $30 Million in cash. Management will not have a problem with cash.
(A Top Pick March 6/17. Down 54%.) A big land package with more of a copper than a gold exposure. In a part of Colombia that could be permitted for open pit mining and he likes the people that were on board. HPX, a private exploration fund, made a big investment in the asset, and funded a project on their portfolio, in terms of a joint venture, to a feasibility study. That changed, and when that happened he became negative on it.
This is in Northern Colombia. Gives exposure to copper and to Robert Friedland. It has a joint venture with High Power Exploration, Robert Friedland’s exploration arm now in Latin America. They are earning up to 65%. This is basically fully funded to a feasibility study, which could be up to $50-$60 million, so they don’t need to raise a lot of working capital.