SOC property dispute major concern Canaco has been hurt by many factors.
- poor management
- terrible junior market
- lack of communication with shareholders and investment community
- property dispute with Sonora Gold
Althought several factors have helped deteriorate the CAN share price, I think one of the major influences is that the property dispute with Sonora has not been finalized. IR says there is no issue but there obvioulsy is. The case was moved from the Tanzanian lower court to the high court where it was heard. The judge has commented that the decision will be rendered at the end of May. If this was a non-issue, the case would not have been heard or a delay in a delivering a decision would not occur.
I think is it incredibly coincidental that Canaco's 43-101 has been delayed until mid-May after if was to be announced in early April (just after the SOC case was heard in the high court). A lot of gold in the 43-101 is contained on the disputed property.
SOC is not acting against CAN - they are against the Ministry of Mines and the Minister of Mines. If the decision to revoke the ML (milning license) from SOC to Kigoda is overturned - SOC will have an option on this tiny yet valuable piece of gold!