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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 infoseeker99on Aug 03, 2012 10:28am
419 Views
Post# 20180982

RE: RE: RE: RE: News

RE: RE: RE: RE: News

I would think there is a sequence of events to be followed. They can't announce what they are doing with the cash until Magambazi is dealt with (sort of). If they announce a purchase with the cash it would be saying we don't have confidence in the 43-101 to develop Magambazi ourselves using cash on hand so we are spending the money elsewhere.  That aside I cannot imagine this "third party" miner signing a MOU without a good idea what is in the PEA. How could they do a proposed 55% earn in if they do not even know if the deposit is ecomonical. As usual is seems to be smoke and mirrors with this company. I would think we can soon expect an announcement what they are doing with the cash, if they can leverage the cash into a promising property the SP could move. I do think is is less that 50% that the MOU becomes a JV, but it does buy them time and allows them to proceeed to spend the cash. Down the road Management could always say "the MOU fell through, but look at we bought with the money, we'll come back to Magambazi later"  Lets hope the deployment of cash is leveraged wisely.  ALL IMHO

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