DNT Market Cap too low with 9 Billion Pounds Cu A major stakeholder did not sell out exactly.
What actually occurred was that the shares owned by a fund within a brokerage house were "sold"/"transferred" to the same brokerage house and distributed to different funds within the same house, this is shown by the fact that the majority of the shares that were crossed were crossed to the same brokerage house. This allows the newly created funds to now have a lower book value on their shares thus when the shares appreciate (as they will very soon), the new funds will have an immediate uplift and will have a net positive ROI...this is all about optics.
The market cap for DNT is currently $71 million at 54 cents....and again 9,000,000,000 lbs of Copper do the math and see the opportunity.
GMC
Candente Copper Provides Comment on Recent Market Activity
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2012) - Candente Copper Corp. (TSX:DNT)(PINKSHEETS:CDOUF)(LMA:DNT) ("Candente Copper") advises that the Company is unaware of any specific reason, other than general market conditions, for the recent significant increase in volume and decline in the Company's share price.
In particular, there have been no corporate developments or events to support this unusual activity. The Feasibility Study on the Cañariaco Norte copper project and local community initiatives are continuing as per the Company's planned programs for 2012.
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.5 billion pound, Feasibility stage Cañariaco Norte Copper Project located in northern Peru's prolific mining district. The Cañariaco Norte deposit contains a Measured and Indicated resource of 752.4 million tonnes grading 0.49% copper equivalent*, and an Inferred Resource of 157.7 million tonnes at 0.44% copper equivalent*.
Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo., CEO, are the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. They have reviewed and approved the contents of this release.
* The 'Measured and Indicated Resource' listed above consists of Measured Resources of 338.1Mt at 0.48% Cu, 0.08 g/t Au, and 2.0/t Ag (0.52% Cu Eq.), plus Indicated Resources of 414.3Mt at 0.43% Cu, 0.06 g/t Au, and 1.8 g/t Ag (0.46% Cu Eq.). All resources quoted in this release are based on a 0.30% copper cut-off grade and 229 drill holes completed to March 2008. *Copper equivalent grade including gold and silver, metal recoveries (gold 55%; silver 50%) and smelter returns (copper 96.5%: gold 93%; silver 90%) applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x 31.0135 g/t x Cu recovery x Cu smelter return%). The metal prices used are: copper US$2.50/lb, gold US$1,035/oz and silver US$17.25/oz.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation protection for forward-looking statements.