Cardero Resource Corp. (CDY) Subsidiary Announces Entrance into a Letter of Intent to Acquire Interests on Sheini Hills Project
Cardero Resource announced that it has been advised by its subsidiary, Cardero Iron Ore (BVI) Ltd. (the "Vendor"), that it has entered into a Letter of Intent dated April 20, 2012, with T.M.T. Resources Inc. ("TMT"), a company listed on the NEX board of the TSX Venture Exchange, with respect to the acquisition by TMT from the Vendor of all of the issued and outstanding shares of its subsidiary, Cardero Iron Ore Ghana (BVI) Ltd. ("Acquireco") and an outstanding shareholder's loan payable by Acquireco to the Vendor. Acquireco's wholly-owned subsidiary, Cardero Ghana Ltd. is party to certain joint ventures with…