Brent Cook, a respected independent geologist and news letter writer, has endorsed Canaco as one of his favorite junior explorers.
"Brent Cook is an independent exploration analyst with 30 years of experience in both property economics and geology evaluations.
As a seasoned geologist, Brent's knowledge spans all areas of the mining business from the conceptual stage through to detailed technical and financial modeling related to mine development and production."
Brent speaks with Alisha Hiyate
January 26, 2012
"Brent Cook sees opportunity in junior mining rout."
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Two of Cook's favourite juniors are Canaco Resources (CAN-V) and Esperanza Resources (EPZ-V), both of which saw big declines in the second half of 2011.
Last March, Canaco raised $120 million at $5.40 per share in a bought-deal financing; now you can buy it for around $1.30 per share.
"The funds were just jumping in on this thing - and they all bailed out as well - the stock got down to $1.20. During this time period they've been drilling and drilling and drilling, and the results continue to show me that they've got what I think is going to be a legitimate, decent size, decent grade, open-pittable deposit in Tanzania," Cook says. "So we're buying this stock at $1.30 with $115 million in the bank, and a $41-million exploration program. That, to me, seems like a good buy."
Canaco is working on an initial resource estimate (due at the end of March) and preliminary economic study (due in the third quarter) for its Handeni gold project in Tanzania."
https://www.miningmarkets.ca/news/brent-cook-sees-opportunity-in-junior-market-rout/1000855706/