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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 infoseeker99on May 24, 2012 10:01am
294 Views
Post# 19941187

Did management know?

Did management know?

When you read the post from the blog in February, it showed 1.1 million oz and laid out the negatives of the project. That analysis was done by someone on their lunch breaks. With all the geo types at CAN on staff, it would be reasonable to assume that they had done some in-house calculations themselves. Possibly CAN management  did one and it came up poor and thats when they decided to delay the 43-101 in the hope of increasing oz's. As far as the last NR, to have 98 holes out of 117 come up blank, certainly looks suspicious and worthy of a BCSC investigation. The question is when did management realise that the 43-101 would not live up to the wording of the NR's and BNN interview? was the "lab delay" excuse real or fabricated to buy time?  At the end of the day I do not believe that shareholders received ALL of the necessary information in a timely manner. It is also ironic in that they are looking for a new property given the fact that they had an excellent one in Tigray. I have to wonder what their motives were for spinning out TIG. Lets see, They realized that it had a real property and they wanted to benefit from it. What better way than to spin it out and give it $4 million of CAN cash. Look at who bought the PP. It was all taken by insiders and friends. It had a low float, cash, promising property and they controlled it and they would be the primary beneficiaries from any "discoveries". what they did not count on is the market turning and other investors associating TIG with current management. Its too bad that their possible greed separated CAN from one of the best properties available. So far that greed has backfired.  ALL IMHO

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