- Cardero (CDU) has received final court approval to be acquired by World Copper (WCU)
- World Copper pursued the acquisition due to its interest in the company’s Zonia Project in Arizona
- The project’s preliminary economic assessment includes an IRR of 29 per cent over just under three years
- The companies expect to complete the arrangement on or about December 20, 2021
- Cardero Resource is a Vancouver-based mineral exploration and development company
- World Copper is a Canadian resource company focused on exploring and developing its copper porphyry projects
- Cardero (CDU) closed unchanged trading at $0.13 per share
- World Copper (WCU) closed up by 2.78 per cent trading at $0.74 per share
Cardero (CDU) has received final court approval to be acquired by World Copper (WCU).
The British Columbia Supreme Court granted the final order in favour of the previously announced plan of arrangement.
World Copper pursued the acquisition due to its interest in the company’s Zonia Copper Oxide Project in Arizona. Based on a copper price of C$3/lb, the project’s preliminary economic assessment (2018) includes:
- An after-tax NPV of $177 million
- An IRR of 29 per cent
- A 2.89 year payback of initial capital
- Cumulative net cash flow after taxes of $331 million
The companies expect to complete the arrangement on or about December 20, 2021.
Cardero Resource is a Vancouver-based mineral exploration and development company.
World Copper is a Canadian resource company focused on exploring and developing its copper porphyry projects.
Cardero (CDU) closed unchanged trading at $0.13 per share.
World Copper (WCU) closed up by 2.78 per cent trading at $0.74 per share.