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Mining Top 25 for 2010 - 13 - Cortona Resources Limited

|Includes:Sport-Haley Holdings, Inc. (SPORQ)



This article was released in January 2010, so a lot has changed since then. Track our “Mining Top 25 portfolio” at caesarsreport.com/portfolio or sign up at caesarsreport.com to receive all reports and alerts live, free of charge.

Price  A$ 0.145

Ticker  ASX : CRC
O/S  153,054,000
Avg. Volume  375,650
Market Cap  A$ 22.26M
Sector  Mining (Gold)
Countries Active  Australia
Cash  A$ 11.0M

52 Week Low:  A$ 0.09 (1/29/2008)
52 Week High:  A$ 0.24 (9/16/2009)


Company Statement

Cortona Resources Limited is a dynamic Australian gold company who maintain a portfolio of advanced gold projects in Western Australia (WA) and New South Wales (NSW). Cortona’s principal focus is to continually expand its gold resource inventory with the primary objective of becoming a successful and profitable gold producer at a time when demand for the metal is strong and the price is at historic highs.
The Company’s Directors possess a range of technical and corporate skills including a strong background in gold exploration, and are highly motivated to achieve success.



Positive / Negative

Positive: Strong cashposition, Low Capex (30M AUD), low operating costs (475 AUD/oz), and lots of exploration projects.

Negative: At this point low resource base (but upgrade in Q2), low production output (40-50koz/year).

Main catalyst for 2010

- 11,200m drill programme to expand the Dargues Reef resource estimate, starting January 2010
- Resource Estimate upgrade in Q2 2010
- Definitive Feasibility Study anticipated in Q3 2010
- Production targeted for 2011
- Approvals expected in October


This article was released in January 2010, so a lot has changed since then. Track our “Mining Top 25 portfolio” at caesarsreport.com/portfolio or sign up at caesarsreport.com to receive all reports and alerts live, free of charge.

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Please read our full disclaimer on the website here.

Disclosure:
We hold a Long position in First Uranium Corporation, this means we are biased, so please always do your own research.

Stocks: SPORQ