RE: How will they fund further development Candente Copper (DNT-T) has begun the new year with the resumption of exploration and feasibility drilling on its Cañariaco copper-silver-gold project in northern Peru, sending its shares soaring. The Vancouver-based company earned 38% or 15.5 cents to close the day at 56 cents each. Before the market opened on January 3, said Candente has two drills turning in the project, with a reservoir in North Cañariaco and the other in the nearby reservoir Cañariaco Sur, located 1.3 km south. The company neck his first hole Cañariaco metallurgical North on December 21, after receiving permission from water, the last leave before he could begin drilling in early month. He intends to complete 11,000 meters of drilling feasibility Cañariaco Norte, and 2,500 meters of exploration drilling in the southern reservoir. Christopher Chang, mining analyst at Laurentian Bank Securities, estimated Candente finish the feasibility study of North Cañariaco late 2013 and will spend the next year conducting detailed engineering and permitting activities. But the road to resume drilling has been met with some resistance. On July 8, 2012, the company celebrated the expected general meeting of the San Juan community Kanaris, owner of the surface rights, could vote on the proposal for the company to continue exploration activities on the property for another three years . About 700 of the 1,000 community members who attended voted for the proposal. About two weeks later, the agreement was signed by three legal representatives elected by the community and the company. In return, Candente has committed to spend 1.5 million Peruvian soles (U.S. $ 585,000) in Community programs. However, in late September, the president of the community, Christopher Barrios, another meeting in late September asking members to vote again on whether Cañariaco should be given access to the surface. Reportedly only 650 people were allowed to vote, Candente in a statement of 02 October, without disclosing the verdict, potentially negative one. However, he noted that the result was not legally binding. In early December, the young man said the road to Canaris, a village located 6 km north of the project site was temporarily blocked. While this path did not match the access road Cañariaco, prevented a group of consultants working in Peru AMEC feasibility study to leave the area. But this issue was resolved shortly after Peruvian authorities came to the village to escort the consultants. In the statement of 03 January, the company says it continues to work with the various national and regional sectors related to your one hundred percent through the National Dialogue and the Sustainability Office of the Presidency of the Council of Ministers. Through this, it aims to develop the exploration agreement for three years with the San Juan de Kanaris community, the Ministry of Energy and Mines has recently validated. Candente has also partnered with local and international NGOs to provide lasting benefits to the community by helping initiatives that focus on nutrition, hygiene, agriculture, and the improvement of labor skills. The Vancouver-based company earned 38% or 15.5 cents to close at 56 cents each. Chang reiterated a "speculative buy" rating on the stock and $ 1.25 price target. ---------------------------------------
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