Mr. Bradford J. Cooke M.Sc., CEO of Canarc and Endeavour Silver. Stock recently went from .10 to .18 (closed at .17 today).

Talk about proven management. This company is new to me. But looks interesting and watch list candidate.

All feedback welcomed.

Thank You
Earl


Canarc Resource Corp.
700 West Pender Street
Suite 301
Vancouver, BC V6C 1G8
Canada - Map
Phone: 604-685-9700
Fax: 604-685-9744
Website: www.canarc.net

finance.yahoo.com/q/pr?s=CRCUF.OB+Profile

Business Summary

Canarc Resource Corp., a gold exploration company, engages in the acquisition, discovery, exploration, and development of precious metal properties in Canada and the United States. Its principal property includes the New Polaris gold mine project located in north-western British Columbia, Canada. The company also has an option to purchase a 100% interest in the Tay-LP gold property located within the Tintina Gold Belt in south-central Yukon, Canada. Canarc Resource Corp. was founded in 1987 and is headquartered in Vancouver, Canada.


Highlights of 2011

Completed an updated NI 43-101 Preliminary Economic Assessment Report for the New Polaris gold mine project in northwestern British Columbia, which significantly enhanced the robust project economics for Canarc to build and operate a 72,000 oz per year gold mine at New Polaris.

At US$1400 per oz gold and a $1.00 CA/$US exchange rate, the Discounted NPV (5%) = US$195 million, Internal Rate of Return (IRR) = 42.8%, Payback Period = 1.85 years, Capital Costs were estimated at US$75 million and Cash Operating Costs were a low US$481 per oz.

Received several expressions of interest from mining companies interested in an option and joint venture to advance New Polaris through mine development and a feasibility study, and agreed on a non-binding letter of intent with one party, but they were unable to close the agreement.

Amended the Tay LP property option agreement with Ross River Minerals Inc. to extend the option commitments by one year.

Identified several new exploration targets on the Tay LP property in the light of the positive results from the 470 kilometer airborne geophysical survey that Cap-Ex completed in 2010.

Acquired the Windfall Hills project (3,780 hectares) located in central British Columbia about 90 km northwest of New Gold’s 7.8 million oz Blackwater gold deposit.

Staked three additional gold properties called Devils Thumb, Devils Thumb East and Windfall Hills East (15,175 hectares) north and east of the Windfall Hills project.

Defined initial drill targets on the Windfall Hills project by completing a Phase 1 exploration program including detailed soil and rock geochemical sampling over the main target area

Evaluated several attractive merger and acquisition opportunities in order to take the Company to another level of growth in an accretive manner

Outlook for 2012

Canarc recently received several new expressions of interest from mining companies interested in an option and joint venture to advance New Polaris through mine development and a feasibility study, and management will continue to focus on trying to close an agreement with a new partner.

Since the Company is seeking a significant initial payment or investment from any new partner on New Polaris, the Board of Directors elected to provide temporary debt financing to Canarc in order to avoid issuing new equity at this time

Canarc also plans to drill several attractive gold targets at the Windfall Hills and Tay LP gold properties, subject to securing either option and joint venture partners or appropriate financing

The Company has identified and will continue to evaluate merger and acquisition opportunities to grow its gold exploration and mining portfolio in North America.

Earl, what we have here is fairly common in the mining industry: a small junior has discovered and explored what looks to be an economical deposit, which can be developed within favorable financial parameters - i.e. a projected Internal Rate of Return of more than 40%.

BUT, as is the case with MANY of these juniors, they can't get FINANCED to go to production without taking on DEVASTATING dilution (because of the present low share price). Some of these juniors are simply biting the bullet, financing at these low share prices, and sacrificing dilution in return for continuing progress in operations.

However the management of Canarc have made it clear they don't want to go that route. The GOOD news for shareholders is that this likely means they won't face any DIRECT, massive dilution. The BAD news for shareholders is that FIRST the Company has to find a partner with the "deep pockets" to finance the project, and SECONDLY if/when they DO find a dance partner they will have to surrender much of (and possibly MOST of) the interest in their own project.

In other words, instead of diluting their own share count they are intending to dilute the interest they own in their own project. Note that I'm not intending to be critical here. Often companies are better off doing a JV, surrendering a portion of their project, and the shareholders are still better off over the long term than by attempting to go it along.

The problem is that there are LOTS of juniors looking for "sugar daddies" to finance their projects, and VERY LITTLE capital being thrown around (due to poor sentiment). Indeed, what we see are a lot of the better financed miners not even bothering with JV's but simply buying up these under-valued, cash-starved juniors.

So the RISK for shareholders here is that you could wait a while for a "deal", only to see some vulture swoop in and just buy the whole company (at some low-ball price). Under present circumstances, we must place a high (higher) priority on how well-capitalized companies are and LESS priority on the fundamentals of their main project(s).

Jeff,

"Thank You", for the reply and learning points.

I haven't had time to do much DD on this company (cash flow, ect.).

The CEO was what caught my eye and the recent shot in price (80%).
Personally, I don't purchase after such a "shot". But, I figure it's worth looking into. I always seem to learn something- the location (there are so many locations).
Your comments are always interesting.

Also, the CEO and Endeavour connection. I believe it was "slyboy" who posted about Impact Silver's CEO Fred Davidson also CEO of Energold Drilling. Impact was my one bright spot this year. Now, I'm watching both those companies and really like there finances and future.

I don't have a feel of how the connections all work. But, I do see your point of- operating capitol, profitable and future projects. Then looking at the present and future economic picture.

One thing may not lead to another, but Endeavour has future projects in Chile. Could Canarc be a future Canadian "endeavor" ?

I appreciate the information the members present and share. It all helps in the research ( what to watch and look for ). Just to be reminded how these projects come together in many phases, that they don't happen overnight.

Everyone's help and input is so important. In discovering new companies (like Energold Drilling was for me recently), staying focused on the basic business fundamentals, or the stage of the project and the financing and work that needs to still happen before any profit at any stage. Possible points to take some profit or understanding why sometimes good news is just good news.

All the information shared is appreciated.

Thank You
Earl

Earl, MANY of these small juniors would have EXTREMELY bright futures - if/when the banksters' latest choke-hold on these miners is broken.

Indeed, "choke-hold" is a very appropriate metaphor as the banksters are literally STRANGLING many of these companies.

Understand the underlying dynamic here:

1) Destroying the miners destroys SUPPLY
2) Destroying supply destroys INVENTORIES
3) Destroying inventories causes the prices of gold and silver to EXPLODE
4) EXPLODING PRICES causes people to invest in the miners.



...and so we see the banksters' short-term cycle of futility: the more effective they are in strangling those miners TODAY, the more $BILLIONS will flow into this sector tomorrow.

I continually tell people that the ultimate EXPLOSION of the PM market and the ultimate EXPLOSION in the miners are PRE-ORDAINED functions of simple arithmetic.

The ONLY way the banksters can DELAY this explosive rise is through ruthless manipulation - which MUST always lead to even MORE demand and even HIGHER prices over the long-term.