RE: RE: Canaco and realityIf they didn't make the effort to visit and reassure their institutional investors, we would probably be in much worse shape. If any of those institutions, that combined, hold 40 to 50 million shares, had the same mindset as many on this board, they would be unloading millions of shares. We seem to be hit harder because our share price went up so quickly partially on very good results, but more so, the timing was ripe for gold exploration companies and very bullish for good exploration companies, particularily those that had analyst coverage and recommendations. Yes we definetly got ahead of ourselves, the placement and the value was extremely impressive but the company has become subject to the games that institutions play shorting, trying to place stock to unwilling buyers at yesterday's prices etc. but that money will allow for a much larger resource estimate, for all of us... early next year.
We have been in a bear market for commodities the past month or so. Everything is getting hit. Every blog board that follows exploration companies have similar group of disgruntled investors criticizing their management begging for transparecy in a very cloudy environment Practically every country in the world have so many of their citizens upset about their economies and the perceived lack of action by their goverments. These are the times. People riot and overturn governments others get bailed out because of all encompassing debt. Who will survive? I'm quite content to realize that this company will do just fine. no debt, fully financed for the next three years in a world where financing is next to impossible in the short term and a potentially very large resource.