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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.


TSXV:CAND - Post by User

Candelaria Mining Corp
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Post by canacrapon Mar 28, 2012 10:56pm
247 Views
Post# 19731493

Even the pros got burned

Even the pros got burned

https://www.stockhouse.com/community-news/2012/mar/15/stockhouse-short-report--canaco-s-baffling-tumble

calandra2
Last Update: After hearing from several investors, one geologist and a couple of bankers, I have decided to increase my Canaco stake. I now own 68,100 shares in open market. My average is still above $2. After seeing the delineated drill results today and returning to my notes from my original visit, I will stay wed to the notion that Magambazi looks like a 3 million ounce resource, and perhaps much more. -- Thom Calandra
tcalandra2
Canaco on Friday reported delineation drilling results from Magambazi. The results show several lengthy intervals. At this point, it appears Canaco's fortunes, with $100 million of cash thanks to a fortunate financing, will hinge on its initial resource estimate. To my eye, the work at Magambazi appears thoough and requires select sampling for the resource estimate, explained in today's press release. Back of the envelope, the initial estimate, due out likely by June 30 of this year (2012), could carry a 'whisper number' of 3 million to 4 million ounces gold. That is a wide range, and just a rough calculation based on my visit and reading the current and ongoing results. Here is the latest map with intercepts: https://media3.marketwire.com/docs/774518_map_table_link.pdf -- Thom Calandr

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