This is another company early on in the stages of development but by watching the video below you will see the possibility that exists with this company in Tanzania. Hitting the tip of the iceberg could mean big moves for this company once the finds are made and based on news releases they may actually be on to something. Currently the stock (CAN.V) is trading near highs, but has been supported along the way so it’s
not currently in danger of falling a great amount. Volumes have been good for decent entry into a position as well. Due Diligence always. Take a look.

Who they are:
Canaco Resources Inc. is a Canada-based company engaged in the business of acquiring and exploring gold and diamond projects in Tanzania. The Handeni Project 100% owned by the Company covers 196 square kilometers. The 46 square kilometers Magembe Property is located in the Mwadui District, Shinyanga Region of the United Republic of Tanzania, approximately 35 kilometers north-northeast of Shinyanga town, along the main road to Mwanza. On April 24, 2009, the Company and Candente Resource Corp. (Candente) created a new company, Candente Gold Corp. (Candente Gold) to focus on exploration and development of precious metals in Latin America. On April 30, 2009, the Company and Candente completed the transfer to Candente Gold of their respective 50% interests in Minera CCM, S.A. de C.V. (Minera), the Mexican company that holds the option on the El Oro gold property in Mexico.

What they are up to: News Releases
Canaco announces 94.14% gold recovery from preliminary metallurgical test work at the Magambazi Gold Discovery

SEDAR Filings

1 year chart

Background Video on Canaco Resources Inc:
Canaco Resource company video

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