Stock has had a nice little run over the past month. The next few days will be very interesting. One would expect that there is a high probability of CANARC acquiring a new mine. I'm thinking 90+%. Ty who is connected, thinks its a done deal.
Don't underestimate the magnitude of this event IF it happens. Generating venture capital in this climate is a game changer. It appears that Brad is on the verge of Canford investing around $60 M in CANARC projects over the next 3 months, at which point if it cost you $.21 or $.25 won't really matter if the deal goes through.
I remember many years ago agonizing over buying a similar stock where the ask was $.40 and i kept bidding $.39, $.392, and finally $.396, never landing a single share, but I was determined to get a good deal. The company got similar funding and I chased that sucker all the way to $1.12. My $.004 cost me dearly in the long run.
Dream big and hopefully you will never have to drink Miller Lite again.
a couple weeks ago i heard a finance guru explain that China is buying gold operations in order to increase their stash.. gold jumped when they said they announced their reserves had doubled about a year ago... the guru expects the same kind of announcement from them again... another doubling..
Nixon went off the gold standard and China is going to force everyone to go back onto it.. that would mean big time inflating of the price of gold to match the govt's devaluing of our dollar on world markets.....
Not 3 months but more like 6 weeks MAX before its totally final with both acquisition and NP funding.
The mine will also happen but I'm not sure why so much speculation about it. It's the one in Quebec from last December. That's the one.
Canford will be taking the original $30 Million earmarked for NP and using it for the acquisition so they can get moving and they are back in Hong Kong now preparing another $30 for NP.
This is because the mine in Quebec came up while meeting about NP.
(The bank called and said they won the bid because the other party backed out after losing their financing). Brad said " hey guys we got this mine as an opportunity that just came up and it's currently producing". Brad then suggested they try and get financing for it too and Canford says " let's use the $30 Million we have here for NP, and we will go back to china and secure additional funds for NP. ". Brad then asks, " how long will that take you?" They say 4-6 weeks.
Brad grants them 60 days to be safe. Then we got the PR that was different than expected but its actually better news than we ever hoped for. It means revs this year.
Deadline is March 30 for NP. (They are all in)
Acquisition (both parties are going as fast as they can and are committed)
Bottom line: $60 million is coming in the door of a debt free company within 6 weeks.
Cash divided by float puts a cash value only at a PPS of .55 MINIMUM.
So he'll ya I'm buying the weak hands shares today, and if YOU WHO READ THIS are smart, you'll be too.