Subject: hot stock mover advisory
osborn ,
canaco resources inc . ( can . h - tsx venture exchange )
shares issued / outstanding as of april , 6 th 13 , 257 , 366
current price : 0 . 54
canaco has recruited a world - class management team and as part of our corporate vision , the company has assembled an advisory board consisting of some of the top and most respected individuals in the junior exploration and mining community to advise and assist the company with an objective perspective on the overall direction of the company and in the search for high grade , multi million ounce potential gold exploration properties .
the board of directors are andrew lee smith b . sc . , p . geo . , geoffrey d . g . peretz , andrew e . saxton jr . and graham johnstone . mr . peretz and mr . saxton bring a wealth of investment , financial and public company experience to canaco . mr . smith has had an extremely successful career in the junior mining markets . the advisory board consists of ; mr . david w . moore , m . sc . , p . geo . advisory board chairman ( formally g . m . global exploration with teck cominco ) , ms . joanne freeze , b . sc . , p . geo . ( president and ceo of candente resources ) and dr . alan carter , b . sc . , phd . ( formally manager of business development with bhp billiton ) .
canaco  s initial acquisitions have recently been announced with the option to acquire both the hajdukovich and the mccomb properties in alaska from teck resources inc . , we are also continuing the aggressive search throughout north america to acquire properties deemed high quality exploration targets .
about the projects :
canaco resources inc . has signed an option agreement with teck resources inc . to acquire up to a 100 - per - cent interest in two gold prospects located in the fairbanks region of alaska .
option terms : the hadjukovitch and macomb properties have a combined area of 131 square kilometres , located 15 kilometres from each other , and are located 70 kilometres southeast of the town of delta junction . in order to earn a 100 - per - cent interest in both properties , canaco must spend a total of $ 2 - million in staged commitments over the next four years . these exploration funds can be spent on either or both of the properties at the sole discretion of canaco .
the hajdukovich property is a newly discovered gold target identified and staked by teck exploration ltd . in 2000 . property reports from teck cominco indicate that gold mineralization on the hajdukovich property includes numerous areas of mineralization having been identified to date . the sneaker zone is the principal exploration target on the property and is defined by sheeted , northeast - trending , low - sulphide gold - bismuth quartz veins over a minimum 600 - metre - by - 900 - metre area at the eastern property boundary . a total of 1 , 293 mineralized grab samples have been assayed from the property with 145 returning values in excess of one gram gold per tonne . these samples range up to 184 . 46 grams per tonne gold with an average of 10 . 97 grams per tonne gold .
breaking news ! ! !
canaco resources inc . has appointed andrew lee smith , bsc , pgeo , to the position of president and chief executive officer of the company , to be effective april 11 , 2005 . mr . smith was the founder and chairman of the company ' s advisory board and became a director of canaco in august , 2004 . his commitment to assume the position of president and chief executive officer brings a wealth of experience to the management of the company . mr . smith brings both technical expertise in the mining industry as well as significant experience in public company management , administration , financing and corporate governance to canaco . as president and chief executive officer , mr . smith will be responsible for the day - to - day administration and management of the company as well as for overseeing the exploration of the company ' s properties , and acquisition of new projects .
mr . smith has over 20 years of experience in successfully exploring , developing and operating north american base and precious metal mining and gem projects . mr . smith was with aurizon mines ltd . from 1983 until he resigned as vice - president of exploration in 1998 . during his tenure with aurizon mr . smith was instrumental in the exploration , development and commercial operation of a number of projects including the " sleeping giant mine " . mr . smith is the co - founder , and retains the position of chairman and managing director , of true north gems , a publicly listed canadian company focused on the exploration and development of north american gem stone projects . to date , true north has discovered sapphires , rubies and emeralds in northern canada . he is also a consultant to galantas gold corp . , a publicly listed canadian company that has re ceiv ed the first mining licence in irish history .
mr . geoffrey d . g . peretz will continue to oversee the company ' s overall operation including strategic direction as executive chairman .
conclusion :
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