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cangold ltd (CLD) Snapshot

Open
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Previous Close
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Day High
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Day Low
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52 Week High
02/20/14 - C$0.19
52 Week Low
12/4/13 - C$0.04
Market Cap
6.1M
Average Volume 10 Days
16.0K
EPS TTM
--
Shares Outstanding
42.3M
EX-Date
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P/E TM
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Dividend
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Dividend Yield
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cangold ltd (CLD) Details

Cangold Limited, a junior mining exploration company, is engaged in the acquisition, exploration, and development of gold projects in Mexico and Canada. The company owns 100% interests in the Argosy Gold mine that consists of 1,616 hectares and is located in northwestern Ontario, Canada; and the Plomo project covering 4,279 hectares and is located in north-western Sonora, Mexico. The company is headquartered in Vancouver, Canada.

cangold ltd (CLD) Top Compensated Officers

Chief Executive Officer, President and Execut...
Total Annual Compensation: C$39.6K
Executive Chairman and Member of Audit Commit...
Total Annual Compensation: C$34.9K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$36.0K
Compensation as of Fiscal Year 2013.

cangold ltd (CLD) Key Developments

Cangold Commences Surface Work Program on Guadalupe de los Reyes Gold-Silver Project

Cangold Ltd. will commence immediately with a Phase I surface work program on the Guadalupe de los Reyes ("GDLR") Gold-Silver Project in Sinaloa State, Mexico. A crew will be mobilized to the project within the next week and will focus on detailed geological mapping, trenching, and rock sampling in order to further define the numerous mineralized structures on the property. Diamond drilling by Vista Gold Corp. ("Vista") in 2012 demonstrated both bulk tonnage potential for the GDLR project, as well as high grade gold-silver mineralization originally exploited in the 18(th) and 19(th) centuries. More than 42,000 metres of drilling in 420 holes have already been completed on the property but there are still areas that have not been previously drilled. Due diligence re-sampling (drill core rejects) of 39 of Vista's drill core intersections displayed excellent correlation between companies, with a correlation coefficient of 0.945 for gold and 0.995 for silver (1.0 is a perfect correlation). One example that demonstrates the locally high grade nature of the mineralization came from the San Miguel zone where Vista drill-hole 12SM-08 intersected 4.0 metres @ 12.69 g/t gold and 348 g/t silver and Cangold re-assays returned 13.02 g/t gold and 403 g/t silver over the same 4.0 metres. The Guadalupe de los Reyes Project comprises 6,302 hectares, and covers a past-producing district dating back to 1772. A Technical Report and Mineral Resource Estimate carried out on the project by Tetra Tech in 2013 were re-issued for Cangold on May 20, 2014. The resource comprises 6.8 million tonnes at a grade of 1.73g/t gold and 28.71g/t silver (380,100 oz gold and 6,315,300 oz silver) in the Indicated category and 3.2 million tonnes at a grade of 1.49g/t gold and 34.87g/t silver (155,200 oz gold and 3,639,000 oz silver) in the Inferred category, all at a cut-off grade of 0.50g gold per tonne.

Cangold Ltd. Receives Exchange Approval on Option to Acquire 100% Interest Mexican Gold-Silver Project

Cangold Ltd. reported that it has received final approval from the TSX Venture Exchange on option to acquire up to a 100% interest in the mining rights to the Guadalupe de los Reyes Gold-Silver Project in Mexico. The Guadalupe de los Reyes Project comprises 6,302 hectares, covering a past-producing district dating back to 1772. A Preliminary Economic Assessment carried out on the project by Tetra Tech for Vista on March 4, 2013 estimated an Indicated resource of 6.8 million tonnes at a grade of 1.73g/t gold and 28.71g/t silver (380,100 oz gold and 6,315,300 oz silver) as well as an Inferred resource of 3.2 million tonnes at a grade of 1.49g/t gold and 34.87g/t silver (155,200 oz gold and 3,639,000 oz silver) at a cut-off grade of 0.50g Au per tonne.

Cangold Limited Signs Option Agreement to Acquire from Vista Gold Corp

Cangold Limited announced that it has signed the formal option agreement whereby Cangold has been granted an option to acquire from Vista Gold Corp., up to a 100% interest (subject to certain underlying royalties) in the mining rights to the Guadalupe de los Reyes Project in Sinaloa, Mexico. The Guadalupe de los Reyes Project comprises 6,302 hectares, covering a past-producing district dating back to 1772. Terms of the option call for Cangold to pay to Vista a total of $5,000,000 in staged payments over three years (a total of $1,000,000 in three payments in the first year, $150,000 of which was paid upon closing) in order to acquire a 70% interest in the project. Cangold may then purchase the additional 30% by making a positive production decision and paying to Vista $3,000,000 plus an escalator payment based upon the price of gold and the number of NI 43-101 Measured and Indicated gold equivalent ounces over and above those in the March 2013 PEA, at the time of the decision. Should Cangold elect not to place the project into production, Vista will have the option to buy back the original 70% for $5,000,000 plus a similar escalator payment.

 

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