Solid Resources Ltd. (TSXV:SRW) is a Canadian junior exploration company focused in Spain. The Company is in the late stages of re-opening the Cehegin Iron Ore Mine in south-eastern Spain and applying for an exploration permit on its Alberta-1 Tin/Tantalum & Lithium property in north-western Spain.
- Properties in Spain have no royalties, proven reserves, and excellent infrastructure is in place
- Cehegin Magnetite Iron Ore Concession is a former producing mine that will be fast-tracked into production
- Exclusive and Definitive Co-Operation Agreement with Glencore Xstrata plc (LSE:GLEN) to develop an Iron Ore mine
- A mining permit submission for the Alberta-1 Tantalum & Tin property is underway
Cehegin Magnetite Iron Ore Concession – Southeastern Spain
The 1,030 hectare Cehegin Magnetite Iron Ore Concession is located in a historical area known for the largest open pit iron ore production in Europe. It is a past producing mine, with historical proven reserves (non NI 43-101 compliant) of 13.5 million tonnes, measured and indicated on only 5% of the property. Solid Resources has applied for an expansion to the surrounding area that will total 6.600 Ha. There is excellent infrastructure in place – roads, power, and water are available. The Port of Cartagena is 100 km from the Cehegin concession, and has the ability to handle 400,000 ton iron ore freighters.
On October 2013, Solid Resources signed a definitive and exclusive Co-Operation Agreement with Glencore for a joint due diligence of the Cehegin Project. The Agreement also provides for the potential formation of a joint venture company to progress development of the project. Under the terms of the Joint Venture Agreement, Glencore would be granted a 20% interest in the Cehegin Project, with Solid retaining an 80% interest. Glencore would purchase all of the production. The joint venture would progress exploration and phased development studies with the objective of identifying and constructing a new iron ore mine within 12 – 24 months.
The past producing Maria Mine – one of the 62 Iron Ore Concessions
Alberta-1 Tantalum/Tin & Lithium Concession – North Western Spain
The property is located approximately 42 km east of the Port of Vigo in the province of Galicia, northwestern Spain, with good access roads, available water and a power line crossing the property. The concession covers 3,690 hectares in a north-south direction covering a belt of mica schist hosting numerous en echelon pegmatite dykes hosting Tantalum, Tin and Lithium.
Its unique objective is to become the major European tin/tantalum/lithium production mine.
The 2012 drill program met the directives of the Spanish Mining Authority to upgrade the previous 1.6 Mt measured & indicated resource estimate to 4 – 5 Mt’s to advance to a Mining Permit Application.
Total Measured, Indicated & Inferred – 16.6 Mt’s
Southern Zones Grades:
- Tantalum – 50% higher
- Tin – 20% higher
Greg Pendura – CEO, President, and Director
Mr. Pendura has more than 35 years of experience in founding, financing, and advising emerging private and public companies. Greg Pendura was the original founder of Resin Systems Inc., which achieved remarkable success, and he retired from there in 2007 after attaining the position of President, CEO and Chairman.
Rick Gliege – COO, CFO, and Director
Rick Gliege previously has 20+ years of leadership and advisory experience as a senior manager in the public and private sector. Mr.Gliege brings to Solid Resources valuable knowledge in strategic planning, operations, marketing, development, and the raising of capital through his international connections.
Board of Directors
D. Randy Hayward – Director and Chairman of the Board
Mr. D. Randy Hayward, B. Comm, LLB. has maintained a successful law practice in Edmonton, Alberta, Canada for 20 years. During the latter phase of his law practice, he founded and managed Canadian Dispute Resolution (Alberta) Ltd. and marketed the service of mediation to the legal community and the insurance industry.
Harry A. McKinders – Director and Member of the Audit Committee
Harry A. McKinders joined Solid Resources in 1995 and became a Director in 1998. He has had broad experience in the investment field and has provided consulting services to numerous public and private companies over the years. Previously, he was an account executive with Burns Brothers and Denton Ltd., which later became BMO Nesbitt Burns.
Ven Côté – Director
Mr. Côté, born in Cabano, Quebec, graduated from the l’Institut de Technologie de Lauzon in 1969 with a diploma in Applied Sciences. Mr. Côté is one of the original founders of ZCL Composites Inc., the largest manufacturer and distributor of Fiberglass Underground Storage Tanks and accessories in North America. As the President and CEO since the company was founded in 1987, Mr. Côté had the remarkable ability to make ZCL Composites into a true Canadian success story, with revenues in excess of $100 million per year.
Dr. Alfonso Gracia, PhD, Geologist, Solid Mines Espana – Dr. Gracia has worked in geological exploration and evaluation of mining projects for 35 years, on over 100 projects in five continents, has also undertaken further studies in Business & Environmental Engineering.
Karl B. Douglas – Economics, Princeton University, Advisory Board - Karl has over 20 years’ experience in energy and commodities investing gained at Salomon Brothers, Bear Stearns, JP Morgan and Merrill Lynch. Mr. Douglas is the founder and CEO of Terra Nova Resources Ltd., an iron ore mining company that has rapidly developed over 6,000 hectares of iron ore in Northern Peru. At the present time, Terra Nova is producing iron ore for export internationally. The company operates a number of supporting businesses in the areas of export logistics and contract mining
David Henstridge, P. Geol., Advisory Board – David brings over 37 years in the mining industry including 20 years in the management of public-listed mineral exploration companies. He has managed numerous advanced exploration projects throughout Australia, Europe, North and South America.
Tomás Vecillas Fernández. – Mining Engineer – Tomás Vecillas is a graduate of the Technical University of Madrid with over 20 years of experience in all stages of the industrial mining sector: exploration, development, starting-up of mines, operation and financing. He is a Member of the Official Association of Mining Engineers of Spain (Colegio Oficial de Ingenieros de Minas de España) and the Australasian Institute of Mining and Metallurgy (AussIMM).
Manuel Prieto de Dios, M.Sc, Geology – Manuel Prieto is a senior geologist with over 24 years of experience in exploration, evaluation, mining geology and petroleum. He is a Member of European Geologist Association “Ilustre Colegio Oficial de Geologos” and is a Qualified Person for NI 43-101 reporting.