Replies to post #1473 on Canagold Resources Ltd. (CRCUF)

[horseshoes]

" I agree about burning thru the cash though, what are they doing each day with no active mine to manage."

"Yes, that's been my concern from the get go."

Looks like they have lots to keep them busy as stated in their news release 1 month ago....

The Company plans to diversify its strategies to include gold resource growth as well as gold production and cash flow, by pursuing three key objectives:

1.Acquire gold mining projects with near term production potential in the Americas:
a. Management is currently reviewing several projects ranging from producing mines to development projects with near term production potential located in Mexico, US and Canada. The focus is on projects where we can add value through our mine building and operating expertise.

2.Acquire or option advanced gold-silver exploration projects with existing gold resources and upside potential,
a. We recently recognized opportunities to acquire gold resource projects in Canada and the USA that would stand to benefit from an environment of increasing gold prices and would be accretive to Canarc on a gold oz per share basis. Canarc will focus on projects where we can add value through our evaluation and exploration expertise and rapidly grow our gold resource inventory.

3.Advance New Polaris to feasibility with a partner and Windfall Hills through staged exploration:
a. New Polaris is currently optioned to PanTerra Gold who upon completion of the Phase 1 metallurgical test work this year will consider a $3.5 million Phase 2 pre-feasibility work program.
b. Canarc plans to complete a $250,000 geophysical IP-resistivity survey this year on its 100% owned Windfall Hills project to follow up on the successful Phase 1 drill results which included 1.54 grams per tonne gold over 28 metres. Windfall Hills is located ninety kilometers northwest of New Gold's Blackwater-Davidson deposit where resources total 9.3 million oz gold and 67.8 million oz silver.


With six times more cash as they spent on the last deal I would expect not one but several new deals to be closed in the near future.