Re: Canaco, herb
in response to
by
posted on
Sep 05, 2010 01:35PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
Eric, forgive me as I was trying to go by memory... but I have had a bit of time to go back through the news a bit and tie it into the share price...
It appears that the share price had a "little jump" around May from approx. .50 to approx. .70 on the news of 60 meters at 1.67 grams (I will be using headlines of the news for this example). Not that big a deal, in my mind...
They crept up to around a dollar and back down to approx. 80 cents around July 10th - 12th when news came out of 37 meters at 12.45 grams which included a richer zone of 23 meters at 19.14 grams/ton in that 37 meters. This started the stock's run up to where it jumped quite quickly to 1.50 in 3 days (basically doubling) and then carrying on to around $2/share by the end of August.
There was a bit of drilling news out on August 3rd where they reported 32 meters at 9.27 grams that took the stock from approx. 1.80 to 2.25 by the middle of August.They bounced around 2 to 2.25 and back up to the beginning of Sept. where they have gone on their current run to 2.89 close last Friday. The only news out at the end of August or beginning of September was an announcement of closing a deal to own 70% of Harvest Mining in Ethiopia... Hmmmmm Ethiopia... how's the political environment over there?
Decent numbers here, but seriously, can we do any comparisons with Golden soon??? What kind of numbers can we put out, with approx. 25% of our holes now being stated that they had VG in them... I am thinking along the lines of a meter or so intercepts with VG in it, but that will significantly improve any drill core as VG was touted on this forum before by someone as greater than 30 grams per ton... Sorry, I am going by memory again and I do not want to say what I think those numbers are and be wrong again. My blasted memory...
So, Eric, I stand corrected with my former statement, forgive me. But, when I look back at results that actually "drove this stock up", I see 3 reportings of gold intercepts as I stated before in this post being 60 meters at 1.67 grams, 37 meters at 12.45 grams and 32 meters 9.27 grams. These are the 3 news releases that seem to have driven this stock price to where it is today from around the 50 cent mark to Fridays close of $2.89.
I was wrong with my statement that they only drilled 2 holes. My apologies I was trying to show that it was only a few holes that drove the share price up to where it is today. If I go by the news releases and stock chart, that is what I have found, but with 3 reportings of drilling, not 2... This was the point I was trying to make...
Now, comparing it with Golden, how many holes are we going to report on in the next couple of months coming up to Christmas, along with a James Tilsley Report (involving all the previous drilling, bulk sampling and conceptual modeling which should be strengthened or weakened by the deeper drilling going on as we speak). I am waiting like a kid in a candy store for our news to start FLOWING and seriously, when will it end... (sorry, my new computer puts this symbol in instead of a question mark and I donèt know how to make it stop... É ) I can see our share price doing some very nice rising, but I wonèt forget that it is the market that will be doing the share price appreciation, not my wishes, so I will stay cautiously optimistic...
OK, I have had enough of this forumès time so I ask you all to enjoy your long weekend and
God Bless all Golden Investors.
Herb