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7.5¢ canyon resources limited

Ann: High Grade Resource at Minim Martap, page-4

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16/11/18

09:17

Post #: 36527446
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Originally posted by damosid88: ↑

“The initial drilling campaign is designed to produce a bauxite resource of more than 200MT at greater than 50% Al2O3 and with very low silica.”

I can fully understand why Tolga Kumova has taken on a role with this company and bought in here. Has pegged his success in attracting funds to invest to a swag of options from 35 cents to a $1. Essentially, they have told the market they are going to keep drilling the high grade zones (only touched 30% so far) during the next six or seven months. So we can only imagine how large and high grade this resource will become. Struggling to find a better tier one bauxite prospect of this size anywhere else to be honest.

This is exciting enough on its own but have a look at how close it is to existing infrastructure and I like the tie up with Mota-Engil who have been engaged in infrastructure building in Africa for years. Project adjacent to rail line with heavy ore transport capacity straight to Kribi deep-water port has capacity to direct ship load Panamax size vessels.

Majors will be frothing at getting their hands on this before too long. Global bauxite shortage tipped for early 2020.

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CAY Price at posting: 21.0¢ Sentiment: Buy Disclosure: Held
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