- Cartier Iron opted to change its name to Cartier Silver in October 2022, part of a wider pivot within its business plan
- The revamped company, which is both a sister company and minority shareholder in Eloro Resources (TSX: ELO), recently optioned 100% of the zinc-silver Los Chorrillos Project, within Bolivia’s Cerro Rico region
- The company, which boasts the same, experienced management team as Eloro Resources’, recently completed their initial capital raise of $3 million
- Proceeds from the capital raise will be used to finance initial exploration at the Los Chorillos site
In October 2022, when Cartier Iron made a dramatic pivot within its business and amended its name to Cartier Silver (CSE: CFE), few would have guessed the impact that the change could have resulted in only a few months down the road. As part of their pivot, Cartier Silver signed a $4.5 million deal to option 100% of the Bolivian-based silver and zinc-focused Los Chorrillos Project, consisting of adjoining sites, La Felicidad as well as the Gonalbert Project (https://ibn.fm/gON7B). Nestled in the foothills of Bolivia’s Pequeño Cerro Rico and a mere 12 kilometers away from sister company, Eloro Resources’ (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) silver-tin polymetallic site, Iska iska, La Felicidad is located in the center of a prolific silver mining site.
Backed by the same management team as Eloro Resources, Cartier Silver now seeks to pursue a similar trajectory to that of its sister company, one which saw the latter company’s share price soar by nearly 29-fold between 2020 and 2021. Dr. Osvaldo Arce, renowned as one of Bolivia’s foremost geologists and who was previously instrumental in selecting the Iska Iska property for Eloro Resources, handpicked the Los Chorrillos Project for Cartier Silver. Similarly, the company is managed by Tom Larsen, Eloro Resources’ Chief Executive Officer, who has previously developed Canadian-listed Champion Iron Limited into a wildly successful iron ore miner boasting a multi-billion dollar valuation. Cartier Silver additionally benefits from the experience of geologist Dr. Bill Pearson, the company’s Chief Technical Adviser, who had previously uncovered Brazil’s Jacobina deposit, in a site which is now the flagship mine of Yamana Gold (https://ibn.fm/3G3T3).
Cartier Silver will finance exploration at the Chorrillos Project alongside providing backing for additional claims staked by the company’s subsidiary within Bolivia’s Potosi region (https://ibn.fm/vHZt6).
Eloro Resources’ potential has been increasingly commented on by the market and most recently by renowned mining analyst, Claude Bejet. A seasoned private investor specializing in mining stocks and emerging markets, Bejet is the author of the Swiss Gold Letter, an industry newsletter centred around ‘discovering value in the mining sector.
In a recent article, Bejet highlighted Cartier Silver as one of his top investment picks. As Bejet described, “Cartier Silver benefits from the acclaimed geological team that made the Iska Iska discovery for Eloro Resources in Bolivia, the most prolific silver mining area of the world. At around .40 – .50 cents, we believe it presents a favorable risk-reward opportunity at attractive “insider” prices.”
With silver prices rocketing up by nearly 30 percent over the past six months, and Cartier Silver’s market capitalization up by a near equivalent amount following the successful completion of its capital raising, Bejet’s forecasts – and Cartier Silver’s decision to pivot in regards to its operational focus – seem to have gained early vindication by the market.
For more information, visit the company’s website at www.EloroResources.com.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF
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