Cervantes Corporation Ltd, an ASX listed company (ASX: CVS) was in its early years predominantly in the Lobster fishing, processing and sales industry. Since being recapitalised in mid 2007 and changing its name, Cervantes continued to maintain their activity in this sector by way of income from the leasing of its Lobster Pots and Abalone Hybrid research, whilst seeking additional opportunities.
In 2009 the board approved a limited, secured, financing venture involving re-treatment of Gold Tailings with an experienced operator in return for a share of profits. For progress of this venture refer to the Cervantes Gold link.
The Board also approved in 2009 a limited, secured, financing agreement to assist a listed but suspended Oil & Gas Company, Baraka Energy & Resources Ltd (previously Baraka Petroleum Ltd) proceed to a re-quotation of their securities. Cervantes saw this as an opportunity to assist a considerable number of shareholders in Baraka from losing their investments and create an alliance with another listed company for the benefit of each of its shareholders.
In 2016, when Cervantes received formal approval to transition into an exploration company, Cervantes acquired exploration project areas in Meekatharra and the Fraser Range of WA . Further project areas will be added to the company’s portfolio in the short term. As announced on the 8th December 2016, Cervantes has identified an opportunity to develop the Albury Heath Gold Mine located in Meekatharra, WA. In the near-term Cervantes plans to carry out a brief exploration programme, to provide greater certainty of the size and grade of deposit, to provide fresh material for metallurgical testing and to test depth extensions to the existing mineralisation. Cervantes have identified several options of production including Heap Leach processing or transporting the ore to a nearby mill. Each of these projects has been introduced by New York Securities Pty Ltd, a WA based securities dealer (AFSL Licence: 317392) with close connections to Cervantes by way of the Managing Director of Cervantes. Please refer to New York Securities Link.
Cervantes also invests and trades in listed and unlisted securities from time to time to create wealth and meet overhead expenses of the company, so as to maximise the cash reserves of the shareholders. Please refer to the Cervantes Investment Division link.