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Candelaria Mining Corp T.CAN


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

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.


TSXV:CAND - Post by User

Comment by echo2on Apr 29, 2011 5:18pm
295 Views
Post# 18509540

RE: Gold up again.....

RE: Gold up again.....As discussed with insight in earlier posts (esp I must admit, etc.), there is a disconnect between pm stocks and pm spot prices and futures. This perhaps indicates that many investors, including hedgers, are betting for a short term pullback in pm's that will hurt sp's in near future. Yet, the pm's seem to want to defy the short term 'smart money'. This disconnect trend has been obvious, now, for years, at least since the financial crisis of 2008. Prior to this, stocks tended to outperform the commodities. When gold was at $450, and I started to buy, many, if not most, companies on the HUI were actually not making money, and valuations paid far more attention to NAV than profitability. But, a lot of investors were devastated in the crisis, especially if they sold at the bottom instead of buying, and the general market has been far more cautious since. Despite the number of pm bulls exceeding the bears, the so called 'smart money' has consistently been selling pm shares into the advance of pm prices. What this means, IMHO, is that the contrarian play is to buy laggards during this rally to new heights. This is not, as others have noted, a bubble until the general investor starts to place a significant percent of their portfolio into pms, and this latter has definitely not happened, despite the all time highs. Just check out the lack of movement generally in pm stocks such as YRI, RR, or OSK, and note the marked oversold conditions from overreactions to possible geopolitical troubles for such as names as PAA or BCM despite silver hitting near record highs. And, then there are companies such as R with minimal permitting questions, or GSL that have been absolutely clobbered. The general market has the extreme jitters causing even some uranium stocks such as PDN to fall off sharply on rumours of a government taking a minor stake in their resources.
Regarding CAN, specifically, the volatility is an opportunity, if you don't sweat it. The pr yesterday was to explain the delay in releasing drill results, which will be accomplished imminently. There are 6 drills going doing 8000 m per month! The technical staff has been doubled. The expanding properties are great, and near surface. The resource estimate is still on track for release before the end of the year. The Ethiopian venture is a freebie.
This was another buying opportunity today, IMHO.
Have a great weekend.
WK
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