VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/07/13 -- Cardero Resource Corp. ("Cardero" or the "Company") (TSX: CDU) (NYSE Amex: CDY) (NYSE MKT: CDY) (FRANKFURT: CR5) announces the continued expansion of its management team with the appointment of former Mining Analyst and Investment Advisor, Andrew Muir as Director, Investor Relations of the Company, effective January 3, 2013.
Mr. Andrew Muir - Director, Investor Relations
Mr. Muir holds a Bachelor of Science (Honours) in Geology from the University of British Columbia and the Chartered Financial Analysts (CFA) designation. He joins Cardero from Haywood Securities Inc. in Vancouver, an independent full service investment dealer, where he served as an Investment Advisor building and managing retail and institutional relationships. Prior to Haywood, Mr. Muir was a highly regarded Mining Analyst with Vancouver based investment dealers Canaccord Capital Corporation, PI Financial Corp., and Yorkton Securities Inc.
Mr. Muir replaces Nancy Curry who was responsible for Cardero's corporate communications. He has been in the investment industry for over 25 years and brings extensive expertise in identifying and communicating investment opportunities, client development, trading, capital introductions, and risk management. Andrew also provides substantial experience in evaluating and presenting resource companies that specialize in developing minerals and bulk materials including coal and iron ore.
As the Director, Investor Relations, of Cardero, Andrew's immediate responsibilities will be to work with senior management to expand the institutional shareholder base and communicate the corporate direction for development of the Company's Carbon Creek Metallurgical Coal Project.
Cardero has added significant depth to its management team over the past six months beginning with the appointment of Angus Christie as Chief Operating Officer in June 2012. That was followed with the appointments of Lee Harris as Director, Material Handling in August, David Thompson as Project Manager in September and Bob Osborne as Director of Community Relations in November.
On his appointment, Mr. Muir stated "I believe that the Carbon Creek deposit is a "best in class" metallurgical coal asset that has proved itself to be one of the largest contiguous deposits in the Peace River region. The recent pre-feasibility study shows the potential for this project to have the largest and lowest cost production profile in the district. I am looking forward to communicating the value of this unique deposit to new investors that will realize its significant potential".
Company President & CEO, Michael Hunter, remarked "Mr. Muir's background and market experience compliments a highly skilled and dedicated team that is motivated to unlock the value of the Carbon Creek asset and deliver that profitability to our shareholders. With the addition of Andrew Muir, the Company has better positioned itself to ensure timely and accurate information is delivered to our shareholders and to the capital markets. We intend to make other key additions to the team in 2013."
Mr. Muir has been granted 200,000 options exercisable at a price of CAD 0.45 for a period of two years.
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