I found the CANARC statement posted below the announcement yesterday to be of interest to me.
"About Canarc Resource Corp. - Canarc Resource is a growth-oriented, gold exploration company listed on the TSX (CCM) and the OTC-BB (CRCUF). The Company is currently seeking to consummate a partnership to advance its 1.1 million oz, high grade, underground, New Polaris gold mine project in British Columbia to the feasibility stage. Canarc is also focused on acquiring an operating gold mine and finding partners to explore its Windfall Hills gold properties in central BC and the Tay LP gold property in the Yukon Territory."
Of interest is the importance of the wording, "also focused on acquiring an operating gold mime". I don't believe any of the other announcement to date have been this specific. I didn't want to respond to daytraders post as it sounded like a pump. But he also indicates that Canford "might" be also funding the purchase of a new mine project. I think this has a very high probability of happening if the funding deal closes. He mentions $100M, I think that's a little high. But it makes you wonder just how big this venture might grow to. I think that they want to find something that can produce around 45,000 ounces per year either on a stand alone of coupled with another of their properties. I heard that the eventually want to be producing 100,000 oz per year from all of their ventures.
Kinda putting the cart before the horse here. But interesting to think about.
I meant to ask about some of the numbers in this post. What caught my eye was the production target of 100,000 ounces from all their "ventures." That seems low to me, given that they expect NP alone to produce seventy-some-odd thousand per year. Am I missing something?
That was the number that I heard was the target number for annual production.
65,000 oz - New Polaris
35,000 oz - Mine Acquisition
Question is what is it going to cost to purchase an existing mine operation with a potential production of 35,000 oz per year? Might give us some insight as to the additional money Canford might be committing to.
Leaves more upside possibilities with WH and NP, plus other properties.
As someone once said "it's looking good so far". Nice to see the volume increase and the new board posters. We were getting kinda lonely with just you me and Ag for such a long time. I guess we now can debate when the announcement happens. I say next Thursday.
If you want to call my content a "Pump" then go ahead. But who else do you know that has had direct contact with Cooke and reported to the group? I take no amount of offense to your attempt of bashing, but you might get to know someone before making such an accusation.
I'm Canarcs biggest advocate, I don't just shoot numbers out of nowhere.
Here are your posts that I would classify as a bit of a pump
1. This will be a $.30 stock before the announcement
2. Cannonford is going to also allocate $100M towards a mine acquisition
3. Not selling below $1
I don't believe it is a stretch to call someone starting two topics back to back with the above statements a bit of a pump. I believe all of your estimates are a bit high. JMHO. Sorry if you felt I was bashing you.
I welcome your comments and I believe this board does as well. You sound informed and enthusiastic about this stock as are we. I hope your projections come true. I just believe that your projection are a bit inflated.
As we all state here. This is just my humble opinions. Glad you didn't take offense, none was intended.
I noticed that wording, too, and thought it was the most explicit statement of the company's newest intentions. In the video from last May, Brad stated that he intended for Canarc to explore Tay LP on its own. Now, it seems, the preferred method is partnering. I don't know what any of this would do to the share price. Any ideas?
When they made an offer to purchase the leach mine in Nevada a while back the share price went up to around $.28. obviously, ultimately that deal didn't get done. CANARC finally passed on it.
If CANARC can possibly couple a new mine with the $30M NP deal it would be VERY positive, as far as where the SP might go to, I guess it would depend on the value of the deal.I would predict that the SP would go up about 1/4 of the total cash invested in the project as a conservative estimate..
Fun to talk about. Let's get deal one put to bed first, Then we can hope for deal two to follow.
I still think that it was interesting how they worded the latest PR.