Here's the news releasethey give you a phone number to call for more information. You might want to use it and be sure that your complaints are heard.
Keep in mind how demoralized you are and that one step towards what may be a new and better way of running the company is not going to be very convincing to disappointed people. But perhaps if they take more steps people will be convinced and average down...and new money may see opportunity.
One little advance after to many years of pump and dump is not enough to quite get people believing there is a good future. But if they continue to try to create value instead of the illusion of getting rich quick, the may succeed.
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News Release Operational Update Kelowna, British Columbia: July 5, 2011
Candorado Operating Company Ltd. ("Candorado" or the "Company") (TSX VENTURE: CDO) (FRANKFURT: HQU) (BERLIN: HQU) Exploration
The Company is pleased to report an option agreement installment hasbeen received for the Summer Property in the Murphy Lake area withGreenwood Gold Resources Inc. (OTCBB-GGRI). The terms of the deal are asfollows: Greenwood Gold Resources is required to complete a $350,000exploration program and pay $150,000 cash to Candorado in order to earnthe 40% interest within 6 months of the option date. In total, 6,144,975common shares subject to a 6 month hold period have been issued toCandorado under the terms of the agreement.
Historic explorationon the Summer Property has focused on copper-gold alkalic porphyrymineralization. Drilling at the edge of the chargeability anomalyintersected 21 m of 0.184% Cu which gives potential that the rocks hostporphyry copper mineralization.
The Summer Property is part ofthe Quesnel Trough that extends from south to north in British Colombia.The belt is the location of already operating copper-gold mines andalso mines in development. Production in the Quesnel Trough totalshistorically 4.7 million ounces of gold and 3.5 billion pounds ofcopper.
As part of the agreement with Candorado, GGRI announcedJune 30, 2011 preliminary plans for the exploration work program whichwould fulfill the requirement of a $350,000 work program consisting ofmapping, surveying, prospecting, trenching and drilling.
Candorado is also considering additional joint venture potential on itsmining exploration tenures throughout B.C. and Quebec. With the fundsfrom the option agreements, Candorado will continue with work programson its Man/Prime property with field work and assaying on the agenda.
Corporate:The Company reports that as a result of its Annual General Meeting (the"Meeting") of shareholders held on June 13, 2011, Bill Gilmour, RayAshley and Kirk Reed were re-elected as directors and the incumbentauditor was reappointed. The shareholders re-approved the 2010 stockoption plan and the Company received majority approval for the proposedshare consolidation which can be enacted at some time in the future. Mr.Rob Shives has joined the board and is a great addition to thetechnical expertise in evaluating and developing Candorado's assets. Robhas been a consultant and advisor to the Company for many years (see NRFebruary 2007) and his expertise most recently in developing GWQQuesnel trough projects will be of great advantage as Candoradocontinues to advance its projects.
CEO Kirk Reed says "It is anexciting time for CDO with the commencement of this initial jointventure, additional agreements are expected with subsequent workprograms that will serve to enhance shareholder value."
AboutCandorado Candorado is a British Columbia based mineral explorationcompany with a large land position within the Quesnel Trough, home tosome of Canada's biggest copper-gold porphyry deposits. Among its activeexploration projects are the Man-Prime copper-gold porphyry projectnear Princeton, British Columbia, and the Summer and Timothy Lakecopper-gold projects south of GWR Resources' Lac La Hache copper-goldproject. Candorado also has a large land position adjacent to theFjordland Exploration's and Cariboo Rose Resources' Woodjam propertyeast of Williams Lake that is now under option by Gold Fields. Candoradohas completed a reconnaissance IP survey in this area and a report byPeter E. Walcott & Associates states that the survey found a largezone of complex IP response (anomalous chargeability readings) trendingacross the grid. In addition, magnetic anomalies appear to be related tothe IP anomalies. Further IP and magnetic survey work is necessary toproperly delineate the anomaly or anomalies, in advance of drilling. Theexploration targets are similar to alkali copper-gold porphyry Takom,Megabuck and Deerhorn Zones on the adjacent Woodjam property to thenorth, which are well delineated by IP and magnetic surveys. Furthermoreit is the intention of the Company to continue exploration work on itsland position bordering Imperial Metals' Red Chris property. The companywill continue to develop its B.C and Quebec projects and consideradditional joint venture potential.
ON BEHALF OF THE BOARD OFDIRECTORS OF CANDORADO OPERATING COMPANY LTD. Kirk Reed, President andCEO For Further Information Please Contact: Candorado Operating CompanyLtd. Tel: (250) 768-7767 Fax: (250) 768-0020
www.candorado.com