The last thread was getting a little bit to long so I'm starting another.
Here are my thoughts. I think CRCUF is undervalued here. I believe that Windfall Hills can potentially be a home run however I think, like most all prospective exploratory drilling, that its a longs hot. I think that there is a much higher probability of Mgmt acquiring a mine in Q4. I don't think anything will happen until the gold bonds are finalized for SFEG.
Will be interesting to see how high SFEG will go to when production starts.
It means if SFEG goes to $1.16 again, CRUF's holdings would be worth $76M !
I'm anxious to get the gold bonds sold and see where this thing moves to. Even if we peg our whole worth on our SFEG holdings, we should at least see the mid $.20's again. JMHO.
I think the Windfall Hills drilling is a longshot, however, I still see a CRCUF mine acquisition in the not too distant future, early Q4 after we put the SFEG bond deal to bed. CRCUF set the SFEG transition up to keep CRCUF free of their debt so not to strap us down and hinder a future CRCUF mine purchase.
Hopefully Brad and company can keep the momentum going.
SFEG site announced Euro Pacific entered into a definitive agreement to market the gold bonds for SFEG. SFEG up 300% since the CANARC announcement. Schwab shows the SFEG enterprise vale at $34M. 37% is worth $12M? We should move up soon as well. There appears to be a single seller in CANARC. Hopefully, they get their shares sold soon.
Yes, I like the deal and would be happy to buy your shares here at these prices. Your dilution statement is ridiculous as CANARC picked up 37% interest in SFEG with an enterprise value of $24M in the deal in exchange for a 17% interest in CANARC with a $13M enterprise value.
The deal was accretive not dilutive.
Sorry to distract from the great news. CANARC management is looking at additional properties around Summit mine. So things "could" get even more interesting and possibly soon.
I don't think you have to fret over the possibility of a "reverse split". I just see it as a way to manage their outstanding shares. After todays issuance of warrants I see the likelihood as even greater. The idea of a reverse split doesn't bother me in the least. I still maintain my ownership percentage and it makes it easier for management to raise money.
I just want the market cap to continue to rise regardless of the number of outstanding shares.
I would probably go with what Catalin says, but I just see it as inevitable. JMHO
Hopefully, we continue to get shareholders to start posting again. Nice to have some constructive conversations.
With your holdings it sounds like our "little" group down here just south of the boarder now owns about 10% of this company now.
I actually bought a little bit of Santa Fe yesterday @ $.06.
I have enough CRCUF to last a lifetime!
I guess time will tell. Personally, if I own 100,000 shares at $.10 and it splits 1 for 5 and I then own 20,000 shares at $.50, I'm OK with that. Catalin and Brad have been able to raise money internally through numerous PP's. I just see that continuing and at some point they will have to address the growing number of outstanding shares. JMHO.
I like this deal a lot. It's in the US, fully permitted and ready to roll. The key here, in my opinion, is their underutilized processing plant. It has much more capacityy than the 400/ton/day projected production from Summitt mine. I have heard the CANARC has already looked at several potential old mines in the area! Don't be too surprised if they put another deal together and use the co-owned processing plant. JMHO.
I think this train is just starting to roll. It's about time that we all make some money here.
Thanks for the dialog. It's nice to post opinions, even if they are contrary views and have a civil discussion. Hopefully more will chime in and join the party!
I hope that you are right. I just ultimately want the company to prosper, and for all shareholders to do well. Even Ag. We are approaching 2M shares and I think that that's too high of a number going forward. JMHO. I also think that we might just see another potential quick acquisition by CANARC in the same area. JMHO. They may be raising money before Summitt get's rolling.
I will keep my ears to the ground, but I've been hearing rumblings to that effect.
Very nice moves by both companies today.
Talk to you soon. GLTA.
I wouldn't be surprised, or worried, if the reverse split happened. If the Santa Fe mine becomes a success, at some point, CANARC will need to raise money for another project, and it's a lot easier doing that if they can get the share price up to around $1.00. I think that our share price should climb to around $.20 again by years end. A 1 for 5 would take it to around a buck. I have heard it discussed. My belief is that they would reduce the number of shares to around 40M -50M short term and eventually end up just under 100M. That would be an easier way to raise $25-$40 M.
I like the long term CANARC US prospects here. CC was good. I think we see more CANARC "action" in and around the Summitt mine and processing plant. JMHO.
Not sure how EXK raised their money. CANARC has been doing so over the past 3 years by PP, with warrants which inevitably drives up the number of shares, which then ultimately needs to be resolved, most likely in the form of a "share reduction". I'm just predicting a 1 for 5. But this hypothetical discussion hopefully doesn't take away from what I think is a great step forward for CANARC and us.
After listening to this morning's conference call and a brief discussion with management:
CANARC get's 37% of Santa Fe in exchange for 33M shares or 17% of CANARC stock.
In my view, minimal dilution, for Brad's management expertise and for arranging financing of $22M, of which $10M - $12M will be used to bring the mine up to production of roughly 400 tons per day. Silver to gold ratio is calculated to be roughly 50/50. They project that getting up to production will take 2 months after financing closes, and they will be at full capacity within 6 months after start up. They indicated that based upon projected production numbers that they will be profitable at today's prices. ( $78M of which is tax free ) Santa Fe already owns a processing plant that is well below capacity which is VERY interesting as Brad and Catalin both alluded to several times about "other" potential opportunities in the area, including a couple that Santa Fe currently owns or has options on. I think CANARC makes a play for a mine in the same area.
They indicated that there would be NO merger of the two companies because of Sante Fe's tax losses.
IMHO .... I believe we see Brad and Catalin start to take an aggressive look at potential mine property in and around the Summit Mine property and processing plant to take advantage to the underutilized capacity of the processing plant. They believe that this area resembles the mines that EXK has in Mexico and there is a great opportunity to replicate their same strategy here.
I wouldn't be surprised CANARC announce a plan to lower the amount of shares outstanding by as much as a 5 for 1 deal. That would bring the share price to up around $.50 to $1.0 with about 50M shares outstanding after warrants and options. JMHO.
Sounds like the only variable here is the financing. I would find it hard to believe that it isn't already locked in however, as we well know, it's not over until is over.
GLTA.....and yes, I'm a pumper, and proud of it!
I'm already on board ! Been on for quite awhile now.
I didn't know that the train trip took soo long to get back from Mexico. I'm glad I bought a round trip ticket.
I'm in the pumper car.Didn't want to post until this deal was announced.
We appear to have the same conductor. CC should be interesting.
Good Morning Bill
Funny. I heard the same report.
They HAVE found a mine and are trying to work the details out. Good news there.
Windfall Hills drilling meets the TSX requirement. Good news there.
They raised $400,000 in a PP from insiders.- I consider THAT to be the best news going forward. Nice to see people putting their money in the pot.
I like our position here. We have well over $1M in cash. We have a potential producing mine acquisition. Windfall Hills is a possible home run, and NP is still in the works.
Good Luck to everyone.
Dreaming of domestic beer and a convertible!
Nothing concrete, however, from what I understand, they have a mine that they like and are currently doing their DD, and are in negotiations. If things don't fall apart, again, I think we hear of a deal by mid August. JMHO.
Even though not huge volume, a nice move. Something appears to be in the works.
I can't get any news right now. When management goes silent, I think it's a good sign.
My prediction is that if the mine they've been looking at is in play, we should hear something soon.
Otherwise, same old same old..
Thanks for keeping the Board open.
I was kinda hoping to buy some more if it dropped into the $.05 range, doesn't look like that will happen.
Appears that most who got discouraged have sold and that longs aren't selling here.
I think we may get an announcement within the next 2-3 weeks if the current DD goes well. JMHO
Good luck to everyone who has hung in here.
Let me say this. My source has been right every time with his information. Now the deals haven't closed, but he was correct in predicting the events leading up to the deals that eventually fell through.
So with that in mind, I heard this week that they have found a mine that they like and are currently in negotiations. Don't have any idea where it's located, but they are pushing hard to put something done. I think DD has been going on for a couple of weeks. Keeping my fingers crossed, but I'm not in a panic mode at this time. I think something positive will happen sooner than later.
Share price has held pretty darn strong after the deal fell through. I was expecting a drop down to $.035. Interesting how the bid has crept up recently.
We may just hear something by the end of the month. But I'm always optimistic.
JMHO. Good luck to all.
We are all waiting for them to find a new mine. They've looked at quite a few I've heard. Kind of gun shy to make a prediction, but I'm certainly not selling here. JMHO.