This is a good suggestion Below is BMR's take on Canaco. Given managements lack of performance and the poor SP performance, they should do the right thing and step aside for new management and the new managers should even look at changing the name of the company. Canaco's demise has been hi-lited in many articles and by newsletter writers. It seems it's name is synonomous with all that is wrong with the Venture exchange. It needs a new start. ALL IMHO
Canaco (CAN, TSX-V) Gets KO’d
The Venture Exchange hit a new 52-week low yesterday, helped in no small part by a disappointing if not bewildering resource estimate from Canaco Resources (CAN, TSX-V) for its Handeni Project in Tanzania…how Canaco could drill 400 holes and over 100,000 metres and still come out with only about a million indicated and inferred ounces is a mystery to many (using a cut-off grade of 0.5 gram per tonne Gold, Magambazi is estimated to contain an indicated mineral resource of 15.2 million tonnes grading 1.48 g/t Au and containing 721,300 ounces, as well as an inferred mineral resource estimate of 6.7 million tonnes grading 1.36 g/t Au and containing 292,400 ounces)…investors were expecting much better from Canaco and headed straight for the exists, sending the stock price down 67% to 29.5 cents for a market cap below the company’s cash value…it’s unfortunate that CAN has become CANNOT in this case…they ought to pick up their toys in Tanzania and invest in something else in North America but under different management…