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CAY, CANYON RESOURCES LTD
blacksheep
post Posted: Mar 12 2019, 11:35 AM
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Wonder why this was not identified previously? The resource "identified" is "Inferred" - "Inferred Mineral Resource is the part of a mineral resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological or grade continuity."

QUOTE
CANYON IDENTIFIES WORLD CLASS HIGH-GRADE BAUXITE RESOURCE AT MINIM MARTAP

Canyon Resources Ltd (ASX: CAY) is pleased to report a detailed review of
previous exploration on its Minim Martap Project in Cameroon has identified
significant zones of extremely high-grade bauxite with very low contaminants
within the existing bauxite resource.


The very high-grade resource of 250.9 million tonnes at 50.8% Al2O3 (total)
and 1.9% SiO2 (total), part of the previously announced Minim Martap Project
resource, validates Canyon’s theory that the project is one of the highest
grade very low silica bauxite resources globally, with clear potential to
substantially grow the scale of the very high-grade zones.

Canyon engaged SRK Consulting to review results from previous drilling
campaigns
to identify very high-grade areas within the plateaux used to
calculate the previously announced 550Mt bauxite resource. The resource
previously announced on 9 August 2018 and upgraded to JORC 2012
compliant on 4 September 2012.

The cut-off grades and quality parameters for the bauxite review by SRK were
based on the total silica being <3% and total alumina >40%. For high-grade
alumina plateaux, total silica <4% was generally used when the total alumina
was >48% The review identified significant areas of very high-grade bauxite
within all 11 of the Minim Martap licence plateaux.

As a result of the review, more than 50% of the previously announced resource on the Minim Martap
licence has a grade above 50.8% Al2O3. The high-grade sections within the individual plateau
highlight trends that are consistent with Canyon’s interpretation of the Project’s geology, and the
re-evaluated resource confirms the Company’s assessment of the Project’s potential to supply very
high-grade bauxite.

Canyon Resources Chief Geologist Alexander Shaw said, “By conducting a more detailed assessment
of the historic resource, we have identified significant areas with very high-grade aluminium oxide
and low total and reactive silica on all of the Minim Martap licence plateaux. The remarkably high
grade, combined with very low levels of contaminants, and significant cumulative volume of greater
than 250 million tonnes of bauxite in these areas further reinforces the fact that the Minim Martap
Project bauxite deposit is a true global tier 1 bauxite resource.”

“We are utilising the information from this resource analysis to assist to target the drilling campaigns,
to identify new high-grade zones at the Minim Martap Project.”

Canyon is continuing its exploration drilling program at Minim Martap, focussing on the high-grade
zones identified from the previous data. The Company has completed 157 holes for a total of 1,556m
drilled. Samples from the drilling are currently in the process of being assayed by ALS (Ireland).
Drilling is continuing on the Minim Martap permit, targeting bauxite zones that are consistent with
the very high-grade zones identified by the SRK resource review. Plans are currently being
implemented to extend the drilling onto new and previously undrilled bauxite plateaux on the
Minim Martap and Makan permits that have also been identified as being consistent with the very
high-grade bauxite zones.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 20 2018, 12:38 PM
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Posts: 5,629
Thanks: 2110


Battery Metals Demand to Keep Increasing, Canyon Resources' Kumova Says
Daybreak AsiaTV Shows
December 20th, 2018, 12:38 PM EDT
QUOTE
Tolga Kumova, strategic adviser of Canyon Resources, talks about the outlook for commodity markets. Kumova, who is best known as the founder of Syrah Resources where he took it from nothing to a $1 billion company, speaks with Shery Ahn and Haidi Stroud-Watts on "Bloomberg Daybreak: Asia." (Source: Bloomberg)


https://www.bloomberg.com/news/videos/2018-...mova-says-video




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 6 2018, 11:35 AM
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Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Nov 6 2018, 09:35 AM

Angie is doing the honors this time - Rich-lister Tolga Kumova joins bauxite player Canyon Resources
15 minutes ago | Angela East

Also assisting CAY is Mr Serge Asso’o. Is that the same Mr Serge Asso’o involved with that other Cameroon project belonging to Sundance Resources - the Mballam Iron Project ? SDL hasn't exactly been a great investment - currently still in suspension, last traded @ 0.0055c. Maybe CAY can overcome the Cameroon issues that plagued SDL.

Tolga already on the marketing campaign trail.

QUOTE
Tolga Kumova @KumovaTolga
1m1 minute ago
More Tolga Kumova Retweeted Stockhead
$CAY Tier 1 bauxite assets do not come along every day. I suspect there will be significant corporate interest from #aluminium producers considering quality of the #bauxite and majority of the logistics infrastructure in place
.
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QUOTE
Serge Asso'o whose company, Etablissements Pyros, holds 9% of CamIron. His father is General Benedict Asso'o, a close friend of President Paul Biya since he rescued her during a failed coup in 1984. Serge Asso'o later became General Manager of CamIron, a position he keeps to this day. He is also one of the twenty biggest shareholders of Sundance, with 0.5% of the shares

https://actucameroun.com/2017/09/28/camerou...fer-de-mballam/

QUOTE
Local Partner
Over the last three years Canyon has been in discussions with the Government of Cameroon regarding
the Minim Martap Project.
The Company engaged Mr Serge Asso’o to assist it in its negotiations with the Government and to
navigate the many levels of Government involved in the proces
s.

The Company agreed to pay Mr Asso’o a success fee comprised of Canyon shares upon the successful
granting of the Project to Canyon and the satisfaction of a number of project related milestones:
Subject to shareholder approval, Mr Asso’o will be issued:

1. 30,000,000 ordinary Canyon shares following shareholder approval.
• 50% of the shares will be voluntarily escrowed for 6 months after their issue.
2. 20,000,000 ordinary Canyon shares 12 months after the granting of permits.
• 50% of the shares will be voluntarily escrowed for 6 months after their issue.
3. 20,000,000 ordinary Canyon shares upon the completion and execution of a final detailed Mining
Convention with the Government of Cameroon for the mine and infrastructure related to the Minim
Martap project. A final Mining Convention includes all rail, port, other infrastructure and land
access agreements for the Project, all taxation agreements and other duties relating to the
Project, commitments regarding local employment, environmental and community agreements
and all other agreements with the Government of Cameroon that relate to the long term operation
of the Project.
4. 30,000,000 ordinary Canyon shares following the issuing of a Mining Permit, the securing and
confirmation of full mine funding and the Final Investment Decision by the Board to commence
mine construction. A mining permit can only be issued by the Government of Cameroon upon the
execution of the Mining Convention, a detailed Bankable Feasibility Study (BFS) being accepted
by the Government and the securing of full funding for the mine construction.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 6 2018, 09:35 AM
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Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Aug 22 2018, 09:32 PM

Canyon Resources appoints Tolga Kumova as a Strategic Advisor

QUOTE
Mr Kumova’s role includes;
1. Providing strategic direction and advice in relation to the Project’s key development activities.
2. Providing strategic advice in relation to the Company’s planned investment marketing program
and activities.
3. Introducing Canyon to major Australian and international funds, investment banks and potential
offtake partners.
4. Working with management to develop key relationships with stakeholders including the local
community, off-take groups, investors, engineering firms and operational partners.
5. Providing advice and support to the Company’s bauxite marketing, price and sales strategy.


QUOTE
In part consideration for the provision of his services, Mr Kumova will be entitled to receive the
following options:
Tranche No. of Options Exercise Price Expiry Date
1 10,000,000 $0.35 4 years after the date of grant
2 10,000,000 $0.60 4 years after the date of grant
3 10,000,000 $1.00 4 years after the date of grant


"part consideration" - shouldn't they reveal to shareholders the "whole consideration" ?

Wonder if Mr Fitz will write a piece in coming days on the man with the midas touch ...

Buyers yesterday must have anticipated this news wink.gif
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 22 2018, 09:32 PM
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Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Aug 21 2018, 08:39 PM

Updated chart - SP down 16.33% @ 20.5c
Volume traded - 5.7 mil
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 21 2018, 08:39 PM
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Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Aug 21 2018, 12:04 PM

Seems I was right - but what a pathetic response. It certainly doesn't pass my sniff test,. https://www.asx.com.au/asxpdf/20180821/pdf/...jjhnb5kfb57.pdf

Will be trading again tomorrow. No doubt there will be many retail holders totally unimpressed with the dilution they now face. Lucky stiffs once again are the insto's & sophisticated investors.


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Aug 21 2018, 12:04 PM
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Posts: 5,629
Thanks: 2110


QUOTE
In accordance with Listing Rule 17.2, the Company provides the following information in relation to the request: a) the voluntary suspension is sought to allow the Company to deal with a query from the ASX;


Wouldn't be surprised if ASX have some questions re recent pump to 24c, for which they received a price query, followed by a TH to announce a heavily oversubscribed placement.to institutional and sophisticated investors @ 15.5c together with appointment of BW Equities as Corporate Advisor. Tolga Kumova's SISU International Pty Ltd appeared on CAY's register back in September 2017 with 5,3mil shares and a tweet or two - https://twitter.com/KumovaTolga/status/918650472407425026. Will be interesting to see if Regal Funds are one of the insto's to pick up shares in the placement

QUOTE
$5 Million Institutional Placement Appointment of Corporate Advisors
Canyon Resources Limited (ASX: CAY) (“Canyon” or “the Company”) is
pleased to announce that it has received commitments from institutional and
sophisticated investors to raise $5.0 million in a heavily oversubscribed
placement.
The Company will issue 32,258,064 new shares at $0.155 per share under the
Company’s existing 7.1 placement capacity. The proceeds will be used to further
develop the Company’s Minim Martap Bauxite Project in Cameroon, providing the
Company with the ability to accelerate work on;
• Reviewing existing geological, metallurgical and environmental data;
• Commencing geological works, including confirmatory and exploration
drilling;
• Commencing geological, environmental, community & infrastructure
studies; and
• Defining an initial JORC (2012) compliant resource
The placement price represents a 8.3% discount to the 30-day volume weighted
average price (VWAP) of $0.163 and a 16.9% discount to the 15 day VWAP of
$0.181. The Company expects to complete the capital raising within the next 5
business days.
BW Equities Pty Ltd was the Lead Manager to the placement.


QUOTE
Appointment of BW Equities
Canyon is also pleased announce the appointment of BW Equities Pty Ltd (BW) as the Company’s corporate advisors.
BW have been appointed to an initial 12 month term and will assist the Company with capital requirements, strategy and market communications.
BW will receive a monthly retainer of $5,000 per month for corporate advisory services and will be issued an allocation of 5,000,000 options to acquire Canyon shares with an exercise price of $0.20 and an expiry of 36 months from the date of issue.


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
captainchaos
post Posted: Oct 3 2012, 05:30 PM
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SP < 25c = opportunity IMO

Anticipating drilling results within next 4 weeks

This stock has a very low market cap and is capable of moving quickly on good news
The good news is the gamble, Im in.

 
captainchaos
post Posted: Sep 26 2012, 04:22 PM
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This stock is going to start warming up again soon, real low market cap, lots of potential

 
captainchaos
post Posted: Dec 9 2010, 09:26 PM
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CAY starts drilling soon!

 
 


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