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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

Comment by kensinon May 30, 2012 4:52pm
430 Views
Post# 19962700

RE: SOC decision today?

RE: SOC decision today?

Part of the sell off I belive of Canaco actually had nothing to do with Canaco.

Tanzania with 19% inflation and corruption everywhere has elected for a final 4 year term a government they hope will clean up the mess and prosecute not only those that make corrupt decisions but those that influence and also carry out those decisions. 6 ministers were fired most notably for us was "William Ngeleja" the Mining Minister. How that might influence a court arbitration we will see. However the big investors got wind of this a the end of last summer and saw among other things not only the suspicious way the SOC situation was handled but permitting in general and how a legal document from a corrupt government might not hold any value. Like the situation at V.GEM where they lost both their properties even though they had legal right to them. So Smith has said he had a good working relationship with the government except 80% of them just got turfed. If I was a more savvy trader I would have noted V.GEM's predicament,  not as isolated , but possibly contagious as their stock fell from $1.60 to .06c     

   If Canaco can negotiate all the agreements and permits they need with this new government abiding by all their restrictions and it looks like the government has the nations support you might see the money start to go back into Tanzania. Lay all the graphs from the TZ mining companies over each other from September 2011 until now and see if you think theres merit in my speculation.

Could there still be hope here? depends how smart Smith is and how much influence the Chinese have in TZ.  Also a follow up on the 43-101 is needed. Very high suspicion that either the grades reported were exagerated ( tough to do ) or the calulation average is not right. I'm surprised they have not challenged the findings as being completely inconsistent with their drill results.

JMHO

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