sonora case being heard To Ike and others -
I am not a basher of any stocks as you have reported. I have been involved with Sorona for over 2 years. I am not bashing Canaco - i have traded the can stock on a few occasions both with winning and losing results.
Can completed a signficant financing at $5+ per share. Can has released excellent drill results - good grade over minable widths.
I think there is something fundamentally wrong with Canaco as the share price has decreased from $6+ to $1+. I understand the junior capital markets are tough - but a share price decline like this coupled with massive insider selling at higher levels and no insider buying at lower levels tells me there is something wrong.
I am looking for my entry price to buy Canaco - i think long term it will do very well.
Sonora is not bring a case against Canaco. They are disputed the manner in which the ML was revolked. Dr, Kigoda had the ML on the tiny piece of land. Sonora through a wholly owned Tanzanian sub had a legal option on the property.
Sonora's case is against the Minister of Mines - his actions went againt the country's mining act. If the case had no merit, it would have been dismissed in the lower courts. The high court judge ruled to have the case tried.