I've made my reasons for the choices I have made very clear above.
I'll repeat them again here.
Canyon need to do a few things to get credibility back.
Firstly, dump the request for executive bonus shares that value the company at pennies when they have been know to tout vastly higher prices.
Secondly, take a pay cut rather than trying to scrounge extra shares via 'salary sacrifice' at 10c, which given the past form of some directors and associated companies (Manny and Altus come to mind immediately) they will only sell anyway.
Thirdly, stop giving away the value in the company (shareholder funds) to exotic consultants (Serge 30%?) and then throwing in a one liner that the Cameroon Government has the right to take an additional 25% for being such lovely chaps ...before they then start taxing what is left. They have already reduced the potential value significantly.
Fourthly, stop hiding under a mushroom and start promoting the company through traditional channels/PR/media etc. If the company can't afford it we can't afford the MD's salary.
Fifth, stop regurgitating the same old pieces of news as if they are new....same companies in multiple MOUs as mentioned above for years!
Sixth, stop pretending an MOU is anything other than a letter of intent, an intent that can be changed at any time by either party. The fact that they are still at MOU level after these years is an indictment of their capability, not a plaudit. Where are the contracts?
I've poured a lot of money in and taken part in most capital raisings. No more money from me until I see all of the above addressed, especially contracts and I've been convinced China is not trying to steal the best available bauxite resource on the planet.
VOTE NO...nil, nada, zip!
CAY Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
