If we read between the lines here perhaps there is more to this news release. It's been almost a month since the last drill results. The company just makes a deal on the Ethiopian play priced in the millions of dollars. Talks about spinning off the new play as a separate entity while Canaco would concentrate on the Tazanian project.
Does this sound like a penny stock play? I don't think so personally I believe there is news coming shortly on the Tanzania properties that will move this exploration play ahead (dbl or trpl the resource ) into the multi million ounce category with very low recovery costs. The spin off will be a dividend to those who hold long here. I think we could see many shareholders sitting tight on their investment and the share situation tighten up even further.

Just my own views everyone. Do your own DD.

Gold up nicely this morning. A bonus.

Regards A