Will we be doing the Charleston or the Can-Can?
From Peter Koven: http://business.financialpost.com/2012/12/17/red-back-team-swallows-canaco-in-reverse-takeover-shifts-focus-to-sudan/
Also this one is worth noting and may have a lot to do with the change of sentiment: http://www.reuters.com/finance/stocks/CAN.V/key-developments/article/2660910
And then this to back it up: http://news.canaco.ca/press-releases/canaco-receives-initial-drill-results-from-shark-f-tsx-venture-can-201301220848097003
Now I don't normally even look at countries with dictators who are wanted in the Hague. If there's a rope awaiting them that's usually a bad sign. However, We know Red Back.
A big question is: Can the CAN hold it's value after the consolidation? There's a lot of speculation that it won't unless something galvanizes the share holders. The names behind it are not enough. Generally when a company consolidates and spins off a portion the sp does not hold up. It take some solid news to get it going in the right direction.
I'm putting this one on my radar for reasons. One is obviously the team. Another is that they have done what they said they would do. And a third, I like the Shark data. Yes, I have a long long list of dislikes so this one will be in the pure speculation department for now.