Canaco Resources - CAN.V

2 posts / 0 new
Last post
#1 Tue, May 15, 2012 - 10:52am
KiniK
Offline
-
Toronto,
Canada
Joined: Jun 15, 2011
20
418

Canaco Resources - CAN.V

Canaco Resources is down 60% today to $0.33. Company still has 100 million in cash and a book value of $0.50. Seems like there are questions with management the updated resource estimate disappointed. Does anybody else know anything else about this stock?

Edited by: KiniK on Nov 8, 2014 - 5:19am
Tue, May 15, 2012 - 3:27pm
Stoxxman
Offline
-
Vancouver,
Canada
Joined: Oct 17, 2011
438
4511

Bad Can?

https://pennystockjournal.blogspot.ca/2012/05/canaco-resources-inc-canv.html



Canaco Resources Inc. - CAN.v is advancing the flagship Handeni gold project in Tanzania.

"CANACO RESPONDS TO BRITISH COLUMBIA SECURITIES COMMISSION NOTICE OF HEARING; BCSC IS PROPOSING TO REWRITE THE RULES OF MATERIALITY, CREATING A CHILLING EFFECT ON JUNIOR MINING COMPANIES IN BC

Canaco Resources Inc. has responded to a notice of hearing received today from the staff of the British Columbia Securities Commission (BCSC) regarding certain infill drill result disclosures made by Canaco in December, 2010.

Canaco expects the hearing will primarily consider whether or not the infill drill results were material. Canaco believes the infill drill results were not material."

The above cannot be helping and today's resource estimate for sure isn't helping.

Notice: If you do not see your new comment immediately, do not be alarmed. We are currently refreshing new comments approximately every 2 minutes to better manage performance while working on other issues. Thank you for your patience.