Posted On: 12/10/2013 11:55:18 PM
Post# of 8059
Microcaps, I pulled this snippet from the IPO and S-1 but see no named enterprise. The location sure makes one wonder but they remark about seeking permits and agreements with buyers. S-1 is dated 11/19/13. Navial and PanAm are the 2 mines I find for Ensenada.
From the S-1...
We have entered into certain joint ventures in connection with the planned future construction, operation and extraction of iron ore in Ensenada and Colima, Mexico. Management believes that the arrangements will assist in the funding and future operations of mines in Mexico.
From the S-1...
We have entered into certain joint ventures in connection with the planned future construction, operation and extraction of iron ore in Ensenada and Colima, Mexico. Management believes that the arrangements will assist in the funding and future operations of mines in Mexico.
Our goal is to become a key producer of iron ore in Mexico. To achieve this goal we plan to increase our ability to secure iron ore product and to develop a capacity to extract product through acquisitions, licensing rights and joint venture partnerships. Additionally, we intend to further develop current mine right concessions with joint venture partners.
By acquiring or mining iron ore in Mexico, we believe that we will be able to deliver product to China at a lower cost and shorter delivery time. We further believe that this make it possible to compete with other larger competing ore producers based in Brazil, Argentina, and Chile. We also anticipate that we will be able to maintain existing relationships and establish new relationships with major logistics operators to keep operating costs to a minimum without compromising operation. We have applied to the Mexican government for our own export permit that could ultimately reduce our cost of logistics and port costs.
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