RE:The newsI'm pretty sure they already have a project in mind, but no they won't put the money in the bank because they will receive only shares of EDR.TO and only in late June. EDR is the most volatile silver play I know I've owned it but now I don't because I thought its current price was pretty high. Let's hope silver keep going up or we could easily end up with 5millions instead of 10 in the end. EDR are looking at enhancing with sorters let's hope all goes well. But seriously this project was perfect for Canarc it will be quite hard to find another project with such a low Capex to production with so high margins. I don't really understand maybe the DD buy the lenders in the end found out ccm numbers were not as great as advertised. Note how EDR said they would rework those numbers...
Charlie_Chan wrote: I can't say initially that I am ecstatic about the news release as I was looking forward to watching the transition of CCM from an explorer to a producer.
However, the number 1 reason that I am a shareholder of CCM is that I fully trust the Management of this Company in their determination to utilise the Monetary return from the sale of property assets to buy something more substantial.
Brad Cooke is still the Chairman of CCM and although he spearheads Endeavor Silver, i wouldn't be too surprised to see a spinoff of assets from Endeavor to Canarc.
They won't be putting the $10 million in the bank for too long so hopefully we will see something exciting occur in the near future.
GLTA