no short covering why In regard to this news, Canaco's president and chief executive officer, Andrew Lee Smith, commented: "Steps have been taken to reduce company operating costs with the preservation of capital and advancement of project development as our top priorities. Canaco has strategic assets in the form of a $95-million treasury and the Handeni property, which provide capacity to create shareholder value in challenging resource markets. In parallel with ongoing engineering, the board and management are currently evaluating a number of potential opportunities for strategic alternatives for growth."
basically management told all shorts..no need to cover your shorts guys.....we aren't doing with this property or no plans to take over any gold/silver/copper mine with cash we holding...
how much CAN getting in GIC ? maybe u guys should ask management to give GIC interest as dividends :)