RE: as good as it gets?There are many other factors. A big one to compare is the cost to extract. At $261 an ounce Canaco is at the bottom of the spectrum for cost. How many months can you operate? Is it a buy out target? The list is endless. To me it's along the same lines as saying , " I'm not buying a BMW, your just paying for the name." The question always needs to be asked , how did they get that name? If there is institutions all over this and not the hundreds of other projects there must be a reason. It's not just commissions. If this is a dud then the next time they go to the well their customers will tell them to go pound salt. So there needs to be a reasonable expectation that this will ultimately reach $3.50-5.50 depending on drill results. It is still a speculative buy , but it's slim out there for stocks that have big support and big volume.
As a side note I always find it curious why a non-producer gets hit with temporary fluctuations in the gold price. I'm sure it makes sense just not to me.
JMO