Cliff Natural Resources, (CLF) is negotiating an agreement with Pluton Resources Limited to sell its share of the Cockatoo Island mining project. It has a 50% share of the cockatoo mining project together with HWE Cockatoo and Cockatoo Mining. The potential transaction is due to take place at the end of 2012. Pluton wants the operation to help its Irvine Island assets in the Kimberly Iron Ore Hub located in northern Western Australia.
About Cliff Natural Resources
Cliff specializes in mining iron ore, coal mines and coking. It serves large growing steel markets and therefore has a steady customer base. It has mining operations in Michigan, Minnesota, Western Australia, Queensland Australia, Brazil and Ontario Canada. The firm is managed by Joseph Carrabba, the CEO, Laurie Brlas, the CFO and P. Kelly Tompkins, the CLO. In my opinion, Cliff is a solid company that has good growth and profit prospects.
About Pluton Resources Limited
Pluton’s main operations are located in Australia. It mines for gold, silver, iron, and copper ores. By purchasing the cockatoo Island Project, Pluton is expanding its operations and adding synergy to them. The board of directors of Pluton includes: Malcolm Macpherson, Anthony James Schoer, and Russell Williams. It is managed on a daily basis by: Pamela Kaye, Ric Davies, Ben Carpenter, and John McDougall.