RE: RE: What is Canada's law regarding foreign own td516,,,, First of all, why do most of shareholders / investors always view any informative suggestion as "pumping", "bashing" and not view them as insight to help the success of the company and the enhancement of shareholders value?
It it very common for CEO and BOD of any company to be in the BOD of other companies. Diversifying their involvement can secure their own finance through the companies' offer of options and can co-ordinate mutual strategical partnership in their operation. At this point in time most shareholders are puzzled by the lack of news and the hint on its operation plan. The management has been actively releasing news releases in the past years until 2010 when the economic recovery ran out of steam and went down hill caused by the European Union debt crisis. It is logical that the management takes a breather amid global economic uncertainty. https://www.canasiaind.com/s/NewsReleases.asp?numCols=1&page=1
It is unknown when Canasia acquired the Clone property as its news release dated back only as far as June 28, 2006 but its first assay result in Nov. 9 showed insignificant gold mineralization. So Canasia must be one of the earliest explorers in B.C. While most of its properties are Canada based it seems the management has its eyes on the world and wants to be an international mining company by trying to acquire properties from Africa to Mexico to U.S. Since the subsequent drillings in the Clone property in October of 2008, 2009 and 2010 yielded close to surface high grade gold, the management does realize the property's potential bonanza discovery that is why it made it its flag ship operation. The management is excited about the "44.75g/t over 12.8 meters (October 22, 2009)", for such assays could mean "Aurelian potential". If Aurelian did not drill any deep holes, its potential would never be recognized and that company may still be digging around today. While the mangement is still looking for other potentials around the world, gradually it will concentrate more on the drilling in the Clone property as the October 25, 2011 news release announced: Negar Adam, President of Canasia stated, "We are very pleased with the grades returned from this year's work program. We are looking forward to a much larger program in 2012 on the Clone Gold Prospect."
We are not experts in running a mining company so we are not qualified in making judgement and criticism on the mangement's operation, but I believe that the mangement which has the ability to acquire portential properties around the world does has what it take to succeed. I hope it will find its working capital, may be through refining gold from the high grade ores or through joint venture partnership with a cash-rich company just as Mountain Boy is doing by offering some 70% interest to its JV partners and let them to incur all operating and drilling expenses. Investors are not impressed with short intervals of high grade gold just as an athlet making record time in a 100 feet run does not impress the spectators, but a record time in a 26 Km run surely will make head line news. If they set targets for deep hole drilling among the potential shallow holes and if Aurelian style discovery is made, the company and shareholders will be very rich. The management has a habit of releasing assay result in October, so we hope the drilling operation will start in 2 or 3 months in August or September. So it is time to accumulate cheap shares, those who are selling will regret big time.
Canasia Website:
https://www.canasiaind.com/s/NewsReleases.asp?numCols=1&page=1