RE: RE: Canaco Update @ specul8er
This is not the message I got from this NR at all. In fact, it sounds very much like they are putting things on life support until "something" falls out of the sky and lands in their lap. Given the state of the markets, I am not entirely surprised. While they now highlight the fact that they are in a "strong financial position", where does the potential upside for shareholders come from when "preservation of capital will be top priority", "exploration drilling has been put on hold and all other spending has been curtailed"? As a previous poster mentioned, suggestions that they will go forward with the PEA buys them some time (hopefully enough to carry them through the next AGM) and gives the co's remaining shareholders at least a few crumbs to munch on the meantime. I agree with others here that this is now dead money for the foreseeable future. As 2012 draws to a close, those that are still long will simply cut the cord and take a big tax loss on this if the PEA is either delayed until 2013, inconclusive or an outright thumbs down. Just to add insult to injury, we aren't going to know the outcome of the BCSC's investigation until next year too.
IMHO, nothing more to say...
Have a good summer. Cheers all.