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CLD, Cangold Ltd. discovered boulders that contained the equivalent of 6,000 grams silver per ton, 3.5 gm gold & 43% lead. Since then they have identified 17 veins over a 5x15 kilometer area. One vein had an area with 2,580 gm/silver, 20 gm/gold, and 24% cupper. Another vein had a section with 6,148 gm/silver and 3.5 gm gold. The drilling is preliminary and doesn't say if the veins are wide and long enough to support mining, but it is encouraging. The company states that they think that it could be a major ore body. The area is called the Thorn property. They also have a 2nd property, the Argosy property, which includes the past producing Argosy mine and surrouding areas. The mine was closed in 1952, but it was only mined to 900 feet and the company beleives that there is more gold further down. So they are going to drill the area below 900 feet. They have also started drilling a zone they found that is 2.5 kilometers southeast of the mine and state that initial results make them also think that this is a major strike. As I say, from what I can see, this is preliminary, but promising. Their 5 year chart also shows a handle/pan formation. Five years ago their stock was at $2 and then dropped to its present 1/3 $ range. After a 4+ year of flat pricing, it is starting to move up. I have not traded warrants for years, but from what I can find out they have an E warrent (CLD.WT.E) that allows you to buy one share of CLD stock for $0.30 through 28 Oct 2004. And a second F warrant that allows you to buy the stock for $0.25 through 2 Feb 2004 and then for $0,30 through 2Feb 2005. They have 3.5 million E warrants and 0.5 million F warrants. www.stockwatch.com shows the prices of the E warrants (CLD = .34, CLD.WT.E = .10. However, they don't list the F warrants, and other sites I tried, don't list any of the warrants. I have to leave the site at this time, and so I haven't looked to see if my Ameritrade site lists them and as I say, I haven't traded warrants in a long time, and so I'm not sure what is involved, however, this stock looks like is starting to break out, and if it went back to $2/share before the warrants expired, or higher, you would be talking about serious money ($0.10 to $2) So I am going to be looking into buying some of the warrants. If anybody knows something about warrants (good bad) maybe they add a thought to this. Anyway, something to think about.
metal1
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right now buying the stock is cheaper than the warrants. if the warrants are .10 and its gets you rthe right to buy the stock at .30 then you are paying .40 total per share. instead buy the stock for .33 here is your info http://www.cangold.ca/s/ShareStructure.asp
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