lack of news...., page-10

It’s the EOFY sell off, some holders making a profit, maybe some taking a loss.

Lets put this whole Cameroon bauxite project into perspective:

CAY’s latest quarterly page 1 quoted below:

“The committee agenda was extensive and covered a number of key items, in particular, an assessment of the impact of a major mine development on the local population, the capacity and implications for existing infrastructure as a result of the possible construction of a major mining project in the Adamawa Region of the country, an assessment of the economic impacts of the Project both locally and nationally and an assessment of Canyon’s capacity and technical expertise to execute its proposal.”

In this paragraph CAY does not mention that it is Birsok that they want to develop, they talk about a region. The deposits of bauxites in this region are Minim Martap, Birsok, and Ngaoundal, but the only deposit in close proximity is Minim Martap.

Birsok contains very high grade Al2O3 with low SiO2, as does Minim Martap. I have tried to find how much Al2O3 that is estimated to be available for DSO at Birsok, but I cannot find a number.
The deposit of bauxite that borders Birsok is Minim Martap in the Adamawa (Adamaoua – it has a number of ways of being spelt) region.

But currently Minim Martap has 554MT at 45.5% Al2O3 with only 2.06% SiO2.

Now compare that to Metro Mining MMI who own a deposit in the Cape York Peninsular. They have a mineral resource of 65.3MT and an Ore Reserve of 48.2MT at 38.4% Al2O3 and 6.4% SiO2. An equity research firm has placed a valuation price on MMI of 45c/share and an expected target price of 35c/share.

Ill let you all do the math. I won’t suggest too much here on this forum as I don’t want to keep typing “IMO” etc, but the I believe the CAL JV does not exist anymore – so the government of Cameroon now holds the ground again.

Ok, so if CAY access an exploration permit for Minim Martap, what would that do to the share price?
And CAY confirms through a drilling program the CAL JV drill results, what would that do to the share price?
And, as mentioned in their latest quarterly, they want to establish a MAJOR mine in the area, so what will that do to the share price?

Finally, this is a DSO product, so capital costs to construct a mine will be low. They will need some drill and blast equipment, some diggers/shovels, some trucks, a primary crusher, maybe some secondary crushing, and a train load out, and finally the 10km rail spur line and some locomotive consists.

Easy Peasy – 2 – 3 years and this exploration company will be a mining company.

Oh yeah – AIMO….