You got it on all points, and what Carnac is seeking to do is to replicate the EXK story with this source of gold/cash flow production. Canarc owns some very respectable assets themselves, that could be a lot closer to production, if management wanted to simply use dilution as a tool to achieve their goals. As major shareholders themselves, Canarc's management team is very cognizant of respecting how and when to utilize their equity. This transaction if closed should be a "win/win" for all involved, IMHO
Go $MXOM & $CRCUF!