Change directionCanaco should think about changing its focus. At these low prices, a fair buyout is unlikely. They should focuse at putting the Magambazi into production as soon as possible after the 43-101 and PEA. Get that going and generate cash flow then do regional drilling after that. Bellow is part of a NR from Tanzanian Royalty Fund. They made the government part owners and that seems to fast tract the process. They don't have to make them 45% partners like below but they should look at a smaller percentage. Why grant millions of options at low prices and add to the dilution. Why not give the government a percentage instead, at least it generate something positive. I would rather own shares in a company that holds 70-80% of a producing mine, with lots of upside potential. Somehow I think greed will prevail and they will grant themselves cheap options
ALL IMHO
The government has assured the Company that the mining license application will be given priority and the minister confirmed he had "instructed the Acting Commissioner for Minerals to expeditiously process the application for the enlargement" noting that the project is a "role model which must receive our utmost cooperation and attention."