Candelaria Mining Corp T.CAN

Primary Symbol: V.CAND Alternate Symbol(s): CDELF

Metals & Mining Gold

Candelaria Mining Corp. is a Canadian gold-copper exploration company with a portfolio of two highly prospective projects in Mexico. The Company owns 100% of the Caballo Blanco and the Pinos Gold Projects. The Caballo Blanco license area is located on the eastern coast of Mexico in the state of Veracruz, 65 kilometers northwest of the city of Veracruz. The most advanced project in the license area is La Paila, which is conventional open pit/heap leach mining operation targeting approximately 100,000 ounces of gold production annually. The Pinos mining property and historical mining district is located in the municipality of Pinos, Zacatecas state in north-central Mexico near the town of Pinos, Zacatecas. The property lies 405 air-kilometers northwest of Mexico City and is 67 km west-northwest of the city of San Luis Potosi, 113 km east-southeast of the city of Zacatecas, and 85 km northeast of the city of Aguascalientes.

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Candelaria Mining Corp > why option?

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Comment by diggin2deepon Nov 17, 2010 11:30pm

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Post# 17722319

RE: RE: RE: why option?

SUMMERB,
The transfer has been suspended, not nullified. until an agreement is reached or imposed. That number is likely to be $50 million. We want about $5 million cash to explore rhe Kenya property and cover admin costs. The balance of $45 million can be paid with 9 million CAN shares at a deemed price of $5 a share because a settlement of this issue is going to drive CAN over $5. A 4 month hold is no problem.
We really have no interest in driving the CAN share price down.

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