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Cardero Secures Access to Coal Transportation Barge

Cardero Resource Corp. (CDU.TO) announces that Cardero Coal Ltd. has signed a letter of intent with Canadian Forest Products Ltd. outlining the terms under which Cardero Coal will charter the MV Williston Transporter for transportation of metallurgical coal from Carbon Creek to the railhead at Mackenzie, BC.

This charter party arrangement will terminate at the end of 2015, at which time it is anticipated that Cardero Coal's purpose-built tug and barge will be commissioned to transport coal through the remainder of the currently proposed mine life.

CDU was up nearly 2% to $0.265, trading close to 52-week low 24 cents.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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