I would venture to guess Canford would like to beat the price down some now by selling some of their shares at cost (.10) so when the JV arrangement is formally announced, we rise to a double from a lower spring board level (.10-.20 instead of .15-.30). If we were to rise and hold over .30 the warrants can (and most likely will) be called, and if called and not paid for, they will expire (these warrants are the gravy part of the PP, and it appears Canford is willing to just break even now to buy some extra time to hold back putting more cash into paying up the warrants if they are called in the near future (another $1,695,000 forced investment, or give up the gravy).
From the Q-3 report;
On September 28, 2012, the Company closed a brokered private placement with Canaccord Genuity Corp. acting as the agent for 11.3 million units at a price of CAD$0.10 per unit for gross proceeds of CAD$1.13 million, with each unit comprised of one common share and one transferrable common share purchase warrant. Each whole warrant is exercisable for a period of 36 months at a price of CAD$0.15 per share during the initial period of 24 months until September 28, 2014, and at $0.20 per share for the remaining 12 months until September 28, 2015. The warrants are subject to an accelerated expiry whereby if after January 29, 2013, the volume weighted average trading price as traded on the Toronto Stock Exchange equals or exceeds CAD$0.30 per share for a period of 10 consecutive trading days, the Company will have the right, within five business days, to accelerate the expiry date of the warrants by giving not fewer than 30 days written notice to the warrant holder whereby the warrants shall expire 30 days after such date of the notice.
(Red added for empasis)... GO $CRCUF!
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