Cannon Exploration Inc. (fka CNEX)

[Carnac]

Candice, you have so many questions, let us try to address a couple! you asked about the gold and when were they going to PR that, first they have to prove it in accordance with NI 43 101 standards, no major gold mining company will buy the property until these steps are completed. Dilution, well this will occur till revenue is generated it is the only way a junior mining company has to produce revenue. The letter stated

As noted in our recently released Q3 financials, Cannon is adequately funded to continue operations into the New Year

I would hope that means they have enough to get them thru the IP as I am certain JVX requires their money in advance or at the least in escrow. Once CNEX gets past the IP that will be one more rung up the ladder of proving a gold mine. The good part is at this point and it is my belief that the company could R/S the shares with little to no affect on shareholder value If the IP indicates the same conductive zones as the EM survey. Now a NI 43 101 drill program requires drilling every 15 meters if my information is correct and will be costly, you could never raise the funds for that with a 000 stock.
This all of course is just my opinion.