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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of September 2006
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Commission File Number 001-32748
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CORRIENTE RESOURCES INC.
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(Translation of registrant's name into English)
520 - 800 West Pender Street, Vancouver, British Columbia, CANADA V6C 2V6
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Form 20-F Form 40-F X
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Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): ____________
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): ____________
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-_______________
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DOCUMENTS INCLUDED AS PART OF THIS REPORT
Document
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1. News release, dated September 6, 2006, related to the Company's
corporate update.
DOCUMENT 1
CORRIENTE RESOURCES INC.
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Disclosure statements as required by National Instrument 43-101 are available
at our website www.corriente.com
"NEWS RELEASE"
For Immediate Release September 6, 2006
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TSX: CTQ, AMEX: ETQ
VANCOUVER, BRITISH COLUMBIA, September 6, 2006 - Corriente Resources Inc.
announced today that it has issued the following corporate update. This
information has also been made available on the company's website at
www.corriente.com.
CORRIENTE RESOURCES INC. CORPORATE UPDATE - SEPTEMBER 06, 2006
Given the progress that has been made across our key projects in the
Corriente Copper Belt, management believes it has set the stage for the
future growth of our copper and gold assets and positioned Corriente as
one of the very few copper developers that can successfully transition
into production on its own.
Today, our primary Corriente Copper Belt properties, Mirador, Panantza
and San Carlos, are estimated to contain a combined 23 billion pounds
of copper. We are well-positioned both financially and operationally to
bring these projects to their next stages of development to achieve
mid-tier copper producer status.
Of significant importance for the next decade of our growth in the
Corriente Copper Belt is our continued commitment to local communities
as we move forward with our mining and economic development. We are
currently building good local support for our projects in Ecuador and
will continue to work on these important relationships going forward.
In addition, we are very pleased with the high level of experienced
technical and management expertise we have been able to attract to our
Ecuador projects in recent months. Corriente's growth opportunities and
the attraction of relocating to Ecuador are some of the key reasons we
have been successful in getting a head-start in the building of a
strong project team.
Mirador - Moving Toward Production
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Mirador, which is one of the few new significant greenfield copper-gold
projects in the world that can be readied for near-term production,
presents Corriente with a unique opportunity to introduce a substantial
copper growth pipeline to a market environment that is plagued with
supply challenges. Mirador's robust project economics at an initial
25,000 tonnes/day capacity allows Corriente to implement a scaled
development strategy. This strategy calls for a modest first-phase
project that can be financed by Corriente without major dilution to the
company or the project itself. By using our first-phase cash flows,
Corriente's goal is to expand Mirador's production to 50,000
tonnes/day.
With the May 2006 completion of our equity financing of CDN$125 million
and the Ecuadorian Ministry of Energy and Mines' approval of the
Mirador Environmental Impact Assessment (EIA), two of the more
challenging hurdles at Mirador are now behind us.
With a Mirador project financing equity component raised, Corriente is
reviewing financial proposals from traditional resource-project banks,
smelter groups and metals traders, precious metals royalty groups and
equipment vendors for the necessary debt component. Management is
pleased with the progress of these discussions and feels that the keen
interest from all of these potential industry financing partners points
to the quality of the project and to the overall lack of new copper
projects coming on-line. We expect to be able to make further
announcements relative to these discussions prior to the end of 2006.
CORRIENTE RESOURCES INC.
Panantza, San Carlos and Mirador Norte - Corriente's Copper Growth
Pipeline
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Building upon our position as one of the junior copper industry's
leading near-term producers is the extensive resource base that we
control outside of Mirador that gives Corriente a significant future
copper production pipeline. There is high potential to continue to
expand resources beyond the announced figures on our development
projects such as Panantza and San Carlos, as well as our other
exploration projects in the Corriente Copper Belt.
Panantza, which includes an inferred resource of approximately 395
million tonnes grading 0.67% copper and containing approximately 5.8
billion pounds of copper, combined with San Carlos, which includes an
inferred resource of approximately 657 million tonnes grading 0.61%
copper and containing approximately 8.8 billion pounds of copper,
offers an extensive and valuable base for us to build upon. Feasibility
drilling is presently underway at Panantza/San Carlos, and we expect
drill results to be announced throughout the next 12 months.
For Mirador Norte, we expect to complete a NI 43-101 technical report
soon from the results of our previously announced drill program and to
be in a position to announce copper resources that will be additive to
our 23 billion pound district total. Additionally, Mirador Norte's
close proximity (within 1 km of the planned Mirador mill site) means
that Mirador Norte can be integrated with Mirador, thereby
significantly extending the mine-life at Mirador.
Ecuador Gold Concessions - Spin-Off of Gold Targets to Corriente
Shareholders
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As announced in August 2006, we intend to proceed this fall with the
spin-off of certain of the company's Ecuador gold concessions in order
to unlock additional value for Corriente's existing shareholders. These
gold concessions, totalling 6,600 hectares, have recently been
identified as potentially substantial gold targets that do not fit into
our current copper resource development programs. The first concession,
Tundayme, is immediately adjacent to the Mirador copper deposit land
holdings and approximately 15 km from Aurelian Resources Inc.'s newly
discovered Fruta del Norte property, while the second concession,
Piedra Liza, lies approximately 50 km southwest of Mirador. Piedra Liza
has returned rock samples with maximum values at 1.0 to 4.0 g/t of
gold.
This spin-off plan calls for Corriente's shareholders to receive, at no
cost, shares of a separate company which will hold these concessions.
The spin-off plan may ultimately lead to the formation of a new
publicly traded vehicle for which financing options are currently being
reviewed. The record date for the planned spin-off will be announced at
a later date.
Conclusion
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We are on schedule to make a construction decision at Mirador this
fall. With our strong community standing at Mirador and our solid
financial base, we see the company moving toward production at Mirador
as planned. As we enter this exciting phase of Mirador's development,
we will remain committed to uncovering the full value of our other
deposits in the Corriente Copper Belt with continued drilling and
exploration.
With a clear and feasible plan for Mirador in place, and with ongoing
exploration and development within our 100%-owned Corriente Copper Belt
properties, Corriente is in a position that is unique in the junior
base metals sector.
"Ken Shannon"
Kenneth R. Shannon
Chief Executive Officer
For further information please contact Mr. Dan Carriere, Senior Vice-President
at (604) 687-0449 or see our web site at www.corriente.com.
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CORRIENTE RESOURCES INC.
Certain statements contained in this News Release constitute forward-looking
statements. Such forward-looking statements involve a number of known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the company's plans to materially
differ from any future results, performance or achievements expressed or
implied by such forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date the statements were made, and readers are advised to consider such
forward-looking statements in light of the risks set forth in the company's
continuous disclosure filings as found at www.sedar.com .
520 - 800 West Pender Street, Vancouver, B.C. V6C 2V6
T (604) 687-0449 F (604) 687-0827 Email copper@corriente.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CORRIENTE RESOURCES INC.
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(Registrant)
Date: September 6, 2006 By: /S/ DARRYL F. JONES
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Name: Darryl F. Jones
Title: Chief Financial Officer