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Canarc Resource Corp. Message Board

  • sonya20911 sonya20911 May 16, 2012 12:28 PM Flag

    long shot

    I nibbled a little today .107 @ 2K
    good % play but a long way out.
    B.Cooke is a good CEO.

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    • been buying since May 16.
      maybe last week to get more under .20?

      Sentiment: Strong Buy

    • A back-of-the-napkin calculation that I did a few days ago puts the potential cash flow for the New Polaris mine--at present gold prices--within about $20M of Endeavor Silver's annual flow. Now that's gross revenue, before subtracting the cost of producing the gold, but still....That's if they're producing 72,000 ounces annually, as Mr. Cooke projects. I've read on this board that Mr. Cooke tends to make very conservative estimates, which is to his credit, and is a great source of comfort to me.

      Given that "if" is the biggest word in the English (or any other) language, "if" Canarc is able to do enough in-fill drilling to prove out more resources that would translate into more annual production, and "if" the price of gold holds up--not to mention the possibility of its improving---considering that the two companies--Endeavor and Canarc--have approximately the same number of shares outstanding (something just over 100M), and "if" Canarc doesn't do something WAY dilutive to finish building out the mine, but just borrows money, instead, then goes on a further exploration/development tear...what's not to love?

      Prices like those we've seen for Endeavor could be objects in the rear-view mirror after New Polaris hits its stride.

      So I have to ask: what makes this such a long shot?

      Granted, one has to be willing to wait 3 to 4 years after a JV agreement is reached to see the mine go into production. But once that (agreement) happens, this simply becomes long TERM, and leaves the realm of the long SHOT. Also granted, there are permits to be gained, inspections to pass, hurdles to clear. Still, Canarc is not run by people who are unfamiliar with how these things get done.

      I'm not sure Canarc is even in long-shot territory now. Canford has paid for a 4-month exclusivity period, in order to do their due diligence. They've been doing fly-overs in a helicopter with Bradford Cooke, and examining everything there is to know about New Polaris.

      I don't know them personally, nor do I know any of the other suitors, but if Canford doesn't take advantage of the opportunity they've created for themselves, I think that someone else will. I think this is just too compelling to pass up, what with the under-valuation of the ounces in the ground, and the massive multiples in potential return on a stock selling for 15 cents. It certainly was for me, as an investor. If I had huge amounts of cash--which I don't--I'd love to buy a sizable chunk of an operation like this.

      But what do I know? Actually, nothing. I'm just another idiot with an opinion. Maybe I'm just thinking out loud, trying to convince myself that I've done a good thing by buying in. But today's volume leads me to believe I'm not the only idiot around. Methinks I'm in pretty good company.

      Bill

    • Bradford Cooke is as close as you can get to this company and he is buying. So am I.

      http://canadianinsider.com/node/7?ticker=CCM

 
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0.03-0.02(-37.50%)Feb 27 2:52 PMEST

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