The uncertainty and lack of communication from CAY is a breeding ground for paranoia and conspiracy theories. The market hates uncertainty and that is what we seem to be getting from CAY at the moment. I can only assume it must be incredibly difficult doing business offshore in places like Cameroon. There is always some inherent mistrust of outsiders on nationalistic grounds. This of course makes it very easy for competitors to incite opposition and division. I am beginning to wonder if we will be still having these discussions about Canyon's progress this time next year. I would also imagine recent global upheaval and conflict will do little to expedite whatever progress is being made. What also concerns me as this whole bureaucratic process lurches on at glacial pace is additional future requirements. Does Canyon have the capacity and capital to fulfill processes required for the additional leases (as per sub7's post) as follows? "According to the permits, Canyon must finalize resource drilling to expand, improve and upgrade the current mineral resource category in the first year and continue infill drilling on priority targets according to JORC standards, conduct supplementary feasibility studies including mining, metallurgy and infrastructure programs, and resource estimation in the second year, which concludes in late February 2024." As usual more questions than answers. However, I have seen nothing in my 3 years as a holder to suggest additional project milestones will be easily accomplished. I'm afraid at the moment I see nothing to be overly optimistic about.
CAY Price at posting:
8.2¢ Sentiment: None Disclosure: Held
