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Nice action on gold and silver. Just makes you wonder when the dicks will take it down. So I can buy on the dip
So I bought some tvix at 2.53 yesterday. Do you think I will get get back to my buy price? Lol
Can't help but think a Brexit stay is priced in. Looking for a drop in markets either way. But who knows in this rugged environment
When are we testing last weeks lows of 15.80? Today? Tomorrow?
Nice action today. Due to? Metal price? EXK? action behind closed doors?
Sorry no not you. A troll on yahoo came out of nowhere. Sorry got my message boards messed up. This will trade well. Loving the action. Shows the over reaction from last week
Thought this was going to .01. Ha. Loser. I was able to get more at .046 so I'm happy. But people should profit here and there and a slow steady climb is great. Gltya
Someone in Canada is still dumping. Over 1 mill traded again. Looks like ours here in USA has settled. It's a good price hear. Just have to wait. If you can't wait. Good luck. Come back when news hits about the next mine we got in one. It will be better!
Yup. If you don't need the money now it's good entry. I will bet when the deal finalizes the share price will be higher due to value of Exk shares. Jmho
I was here when it was printing .02 and .03. Now we have a ton more cash. There will another opp to buy low 5 high 4. Will put low bids in. This will go much higher. It's like my under the mattress stash here.
I'm small game at 80,000. No where near some of you guys. I'm long too so tho I'm bummed currently in used to it here. Lol
I'm ok with having more cash on hand. I'm waiting for dust to settle. Will double my position. At this price it's still undervalued long term. They will come through at some point. Just no flipper here. Again.
It looks as though the market does not approve. Will be interesting what the conf call reveals. Was quite the curveball there
I see where Cooke was not involved in any vote. But who knows. I don't think it's bad for any company. Like Gain stated there are potential for problems. We are free of that and have working capital. They have to have a plan in mind. I trust the management will do well with this
Correct. They could go up or down til then. The conf call should clarify their intentions. :30 min
I agree. It was a different outcome than what we were looking for at first. I think those that were expecting production b years end may bail but others will look at the money we just added to our balance sheet in shares. Literally made 4x the money invested into the original purchase. I wish I was around to listen to conference call.
I guess waiting til conference call at noon is ok too. Patience has become a virtue while holding this company.
Initially I see we bought a property for 2 mil and sold it for 10mil. Nice profit but I didn't know we were real estate salesmen. Ha. This has to be really good but i don't believe we will have the cash until closing late June. Love to hear thoughts on this
Gain, what are your thoughts. It appears we are indirectly a producer now that we have EXK shares. Lol. I didn't see this option coming at all.
Canarc Sells El Compas Mine Project to Endeavour Silver for CAD$10.5 Million in Endeavour Shares
Vancouver, Canada – May 09, 2016 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) (“Canarc” or the “Company”) announces that it has signed a definitive agreement with Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) pursuant to which Canarc will sell to Endeavour 100% of the shares of Canarc’s wholly-owned subsidiary, Oro Silver Resources Ltd., which indirectly holds a 100% interest in the El Compas Gold-Silver Mine Project (“El Compas”) in Zacatecas, Mexico, in consideration for 2,147,239 free-trading common shares of Endeavour, with an aggregate deemed value of CAD$10.5 million (the “Sale Transaction”).
The Endeavour shares will be issued at a deemed price of CAD$4.89 per share, equal to the volume-weighted average trading price on the TSX for the 10 trading-day period immediately prior to May 6, 2016. As additional consideration, Endeavour will assume Canarc’s obligation to deliver an aggregate of 165 troy ounces of gold (or the US Dollar equivalent) to Marlin Gold Mining Ltd. (“Marlin”) in three equal payments of 55 troy ounces which are due in October 2016, 2017 and 2018. The foregoing gold delivery obligation was incurred by Canarc in connection with its acquisition of El Compas from Marlin.
Closing of the Sale Transaction will take place following receipt of all necessary regulatory approvals and other customary closing conditions, no later than June 30, 2016. The Sale Transaction was negotiated by Canarc management and approved by the independent directors of Canarc, with Chairman and director Bradford Cooke abstaining from any deal discussions and the Board meeting to review and approve the Sale Transaction, due to his status as a director and officer of Endeavour.
Rationale for Sale Transaction and Benefits to Canarc
Opportunity for Canarc to turn a C$2 million investment into C$10.5 million in less than one year, making this a highly profitable transaction for the company
Canarc’s enhanced treasury with no need to take on secured debt obligations, allows the company to continue actively seeking and pursue even more substantial growth M&A opportunities aimed to create additional value for our shareholders
Places Canarc in the strongest financial position that it has been in for many years
Provides Canarc with a generous profit while eliminating the risks associated with the development, financing and start-up of a new mining operation
Endeavour shares have significant upside potential that could further increase Canarc’s treasury
A conference call to discuss the Sale Transaction will be held on Monday, May 9, 2016 at 9:00 AM PST (noon EST). To participate in the conference call, please dial the following:
Vancouver Toll : +1-604-638-5345
Toronto Toll: +1-416-915-3227
Canada/USA Bilingual TF: 1-800-319-7310
Callers should dial in 5 – 10 min prior to the scheduled start time and simply ask to join the Canarc call.
Conference Call Passcode When prompted, please enter: 35755
Mr. Catalin Chiloflischi, CEO of Canarc, stated: “This transaction is a very positive step forward for Canarc. By turning a $2 million investment into a $10.5 million sale in less than one year, Canarc will now have sufficient capital to pursue other larger and more advanced M&A opportunities with a goal to create even more value for our shareholders.”
“Catalin Chiloflischi”
Canarc Sells El Compas Mine Project to Endeavour Silver for CAD$10.5 Million in Endeavour Shares
Vancouver, Canada – May 09, 2016 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) (“Canarc” or the “Company”) announces that it has signed a definitive agreement with Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) pursuant to which Canarc will sell to Endeavour 100% of the shares of Canarc’s wholly-owned subsidiary, Oro Silver Resources Ltd., which indirectly holds a 100% interest in the El Compas Gold-Silver Mine Project (“El Compas”) in Zacatecas, Mexico, in consideration for 2,147,239 free-trading common shares of Endeavour, with an aggregate deemed value of CAD$10.5 million (the “Sale Transaction”).
The Endeavour shares will be issued at a deemed price of CAD$4.89 per share, equal to the volume-weighted average trading price on the TSX for the 10 trading-day period immediately prior to May 6, 2016. As additional consideration, Endeavour will assume Canarc’s obligation to deliver an aggregate of 165 troy ounces of gold (or the US Dollar equivalent) to Marlin Gold Mining Ltd. (“Marlin”) in three equal payments of 55 troy ounces which are due in October 2016, 2017 and 2018. The foregoing gold delivery obligation was incurred by Canarc in connection with its acquisition of El Compas from Marlin.
Closing of the Sale Transaction will take place following receipt of all necessary regulatory approvals and other customary closing conditions, no later than June 30, 2016. The Sale Transaction was negotiated by Canarc management and approved by the independent directors of Canarc, with Chairman and director Bradford Cooke abstaining from any deal discussions and the Board meeting to review and approve the Sale Transaction, due to his status as a director and officer of Endeavour.
Rationale for Sale Transaction and Benefits to Canarc
Opportunity for Canarc to turn a C$2 million investment into C$10.5 million in less than one year, making this a highly profitable transaction for the company
Canarc’s enhanced treasury with no need to take on secured debt obligations, allows the company to continue actively seeking and pursue even more substantial growth M&A opportunities aimed to create additional value for our shareholders
Places Canarc in the strongest financial position that it has been in for many years
Provides Canarc with a generous profit while eliminating the risks associated with the development, financing and start-up of a new mining operation
Endeavour shares have significant upside potential that could further increase Canarc’s treasury
A conference call to discuss the Sale Transaction will be held on Monday, May 9, 2016 at 9:00 AM PST (noon EST). To participate in the conference call, please dial the following:
Vancouver Toll : +1-604-638-5345
Toronto Toll: +1-416-915-3227
Canada/USA Bilingual TF: 1-800-319-7310
Callers should dial in 5 – 10 min prior to the scheduled start time and simply ask to join the Canarc call.
Conference Call Passcode When prompted, please enter: 35755
Mr. Catalin Chiloflischi, CEO of Canarc, stated: “This transaction is a very positive step forward for Canarc. By turning a $2 million investment into a $10.5 million sale in less than one year, Canarc will now have sufficient capital to pursue other larger and more advanced M&A opportunities with a goal to create even more value for our shareholders.”
“Catalin Chiloflischi”
You def have bigger balls than I do. I will really add to position when I see next phase. I am not putting all in here, still spread out. But also I am no doubt a small fish.
I have been in and out a couple years. We are due. Good luck to you sir
Let down so much but never have they financed a bad deal. I know they will get it taken care of. Looks like it bounced off you .07. For now
It's so close to that. Excellent patience. Last half hour may be interesting. They will release info Monday morning on financing. Either way this company will start producing this year. We will move at some point. I just hope with financing they release projections so we have an idea what it's worth. I think the uncertainty is what's troubling for some.
I really really didn't think we would see .06 on bid ever again. This is for sure unbelievable. With everything this company has going I just don't get it.
Though we have been let down so many times I still am confident we get good finance deal. We have the best of the best management. This is just amazing to watch. Good thing I'm long here. Feel for those who looked to flip short term. But this can easily be in the teens next week so if people are being here I believe they will be happy
I'm at 80,000. I would go to 100,000 if I had more time.
Is anyone body else taking advantage of this drop in price? I had to move money but I managed to increase my position about 25% on this drop. This has been fun, disappointing, and now exciting. Hoping we are all rewarded soon with good news. GLTYA.
Think we will get surprise announcement in morning?
The flippers will have moved on though after this. The crazy longs, including myself just pick more up.
Well I nailed volume increasing. Too bad it for the worse. Will be interested in seeing the reasons. Saw on yahoo board an announcement next week. Could be a rough week
There's been a ton of buying in your range so I look for it to go back there soon. Appeared to be a profit taker. No biggie. Not a loss til you sell. I moved more money and will set another low bid. It happens to often in this ticker
Wow did not honestly think I would get filled in high 8's. Oh well. Good pick. A tad bit of action late in day. Weak hands out I'm assuming. Did not equate on the Canadian ticker side though.
There has been a large accumulation of shares since Feb of this year. The stock has moved into very strong hands. 9-10 has become solid support and I believe is another great entry point.
Big buying is happening and will continue all week. Enjoy the ride.
I wouldn't be surprised at all if volume increases even more next week compared to what we have seen this week. And I'm betting a bunch of large volume trades go through, possibly in the half of millions of shares. And an increase in valuation put on this will project due to higher medals will be icing.
This company has never had a problem with getting money don't foresee this time. This is the week I have been buying for. Good luck to all of you.
Trying to keep price down it seems. A lot of buying again in 10's. Not much longer now and we are gonna see quick movement. I'm betting there will be some selling shortly after a news spike. But we will stay in solid hands for awhile. Next week will be interesting to watch. Especially if metals keep up the pace. GLTYA
I see EXK got 16 mil financing today. Yea I'm not thinking that will be an issue. It's just a matter of time here. I can see buying pressure pick up end of this week early next. Then after announcement who knows
Couldn't agree more with the statement that they will mine no matter what. They always find the way to get things done. If it's dilution vs some other method, whatever, it's getting done. It all depends on how financing occurs. I think if bad news hits, which I doubt, we may fall to 6 and 7 again but temporarily. If you are long term here I say do what's comfortable. Hell we have been here before. This one is different.
Next announcement by May 7th. These guys usually don't wait so possibly any day now. And yes. We should double price with good news. Jmho
I think you are fine at .12 if you wanna start up a position. Leave some at a lower bid. You never know what you can snatch up. But as soon as positive finance news hits we will know more about what it's worth. Patiently waiting.
Nearly a million shares traded today. Surge in metals. Financing news soon. That dip we had early today was nice for some but a continued rise in price is good for all. Let it go!