Hi All.
March 2nd 2012.
Core Mining is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Sundance Resources Limited (Sundance) relating to the provision and use of future infrastructure facilities. The MOU will enable Core to pursue opportunities to (jointly develop and share) the required rail infrastructure to service Core's world class iron ore project, Avima as well as Sundance's Mbalam/Nabeba projects.
The MOU with Sundance will examine opportunities for how Sundance's proposed infrastructure may offer rail and port haulage for the Avima Project including through the (joint development) of the rail and port infrastructure.
The MOU for the provision of infrastructure for Core's Avima project and the Sundance Project could yield infrastructure requirements for potential production up to 70 million tonnes per annum.
The MOU represents a significant value for Core as we work to advance our world class iron ore deposit at Avima.
The MOU will enable the Company to generate significant value for Core.
Regards
Westcott.
just a reminder
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