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 were added to the company’s portfolio in the short term. As announced on the 8th December 2016, Cervantes identified an opportunity to develop the Albury Heath Gold Mine located in Meekatharra, WA. In the near-term Cervantes carried out a number of brief exploration programmes, 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 successfully completed the sale of the Albury Heath Project to Westgold Resources in May 2020. Cervantes acquired the Primrose Project 2017, located at Paynes Find, and continues to progressively develop the project.
All projects were introduced by New York Securities Pty Ltd, a WA based company with close connections to Cervantes by way of the Executive Chairman of Cervantes. Please refer to New York Securities Link.