Proper priceI guess it has all been said. However I can't resist. The last 48 hours have been pure He$$! There was very good information here on why it took place, back-fill ( thank goodness the gap was filled to $2.80 ) , end of quarter adjustments by fund managers ( market wide for two days) Etc. As I suspected, or at least what my simple math indicated we should trade around the $3.51 range. Up and down give or take 10% based on the physical value of $2.25 and the PM explorer universe peers at double or $4.50. Without any striking news trading in this range seems inevitable. They need to drill up more definition to support a $3.51 price and need to strike along the balance of the 15k to raise the potential and decent widths, lengths and concentration. They have two diamond drills going and one starting soon on the main find. They have four more circular drills hitting the balance of the 15km. T.D. target of $6.00 is a 12 month target. It will take some time to realize the full potential here. No one including myself believes it will take a year. The price of gold is detached right now from P.M.'s especially non-producers but there will be a point if gold breaks $15-1600 that the masses will start buying anything and everything with drill results or has a big promoter selling the long term security of putting your money in a specific stock or stocks. Then all bets are off and you will want every last share you own today.
Keep your core position on Canaco. Do not trade it for pretenders and do not get shaken out every time there is a fluctuation. In the next two weeks investors of record will be getting shares in the spin-out company in Ethiopia. Initial results there have the P.R. guys talking perhaps a Canaco equivalent. Remember that when your thinking of selling those precious shares you own. Trying to get back in is very difficult and almost always costs you more.
So expect Can to trade between $3.00-4.00 for the foreseeable future until the delineation and the new discoveries come in.
Keep the faith.