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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

Post by ANBCAon Apr 10, 2012 1:28pm
437 Views
Post# 19776603

SOC - CAN Mess

SOC - CAN Mess

SOC tried to buy a license that was not permitted to be held by foreign entities.  Simple truth.  Canaco's mistake was not to have paid the Dr. in advance to cancel his license for compensation.  What the government did was force him to cancel the license for which he received and to my knowledge accepted the compensation arrangement provided.  So in the end the license was terminated and the Dr. given his reward.  

At no time did SOC have any legitimate claim to these properties in my opinion.  (Tried to buy what was legally not permitted) 

Now we just wait and see if what we've read or learned of this mess was accurate or not,  and how the Tanzanian authorities choose to settle the matter.  

Canaco's management certainly don't deserve any kudos for how this was handled.  The Dr. should have been offered FMV for his interest long before SOC or any one else arrived on scene.  Then to have taken their bonuses before the matter was finally put to rest is just another kick in the nuts!

 

Good luck everyone,  this opinion is my own based on my understanding of  information available to everyone.

A

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