RE: according to the Co Thanks for calling them.
To get a bounce you need something solid to hit. Canaco needs to put a new base in around there 43101 and restore confidence . They can not go back tot the markets for money. Who would give it to them? They will be forced to J.V. their current mine.
Although it would be a good idea to take on a highly potential mine that is under financed Earle is saying what you have here is what you get don't expect more. The metrics for figuring out this stock price is now (1) what would it cost per ounce to mine what they have (2) how much will it cost to get up and running and by when? (3) who will take the lead in developing the mine (4) what part will Sino play and so on.
Cash on hand you need to discount by 75% ($95m) in you evaluation as they can not go back to the market and get more , there are already too many shares out and they need the money to either sustain their management , search out new properties, pay finders, lawyers, accountants . So roughly $.10c a share for cash.
Until they present all the permits that allows them to mine you need to take the resource and cut it in half from a speculative perspective so 500m ounces at $50 = .25c a share.
Not withstanding a risk off market is getting near it's peak but should turn around it's no wonder the stock is trading at $.35 c
If the management were more communicative it would help but I believe it's to late for that. Now it's just the mechanics of each strategic move they make now.
I'm completely out for now but will watch to see how they reinvent themselves and how that might stack up to others in their trading universe. Unfortunately with Canaco I'm always worried a another shoe will drop .
JMHO