Ann: High Grade Resource at Minim Martap, page-59

Yabster, the previous owners did not pull out. They had ambitions way beyond reality...they were attempting to pull together billions in finance to build a smelting operation in Cameroon. They failed to raise the capital and the government eventually got tired of waiting for the 'talk with no action' to translate into something that would benefit the country. As a consequence the Cameroonian government cancelled their license to operate.

A lot of opinions being thrown around in the past 24 hours in here with little or no research to understand the issues.

A few quick points;

Yes freight will be a major cost in this operation but not what some in here are imagining.
Most other costs in this operation will be VERY modest.
There is more high grade coming.
This bauxite will attract a premium. Not just because of the high grade gibbsitic bauxite but equally as importantly because of the low silica content (do some research on alumina waste).
The rail solution will benefit far more people/companies in Cameroon and beyond than just Canyon Resources. CAY will not have to bare the cost of this operation alone and much of it is already in place. (https://www.bollore-transport-logistics.com/en/business-lines/bollore-railways.html ) One poster was suggesting that returning empty wagons were a deal breaker, do people really believe that wagons would be going out into the countryside empty? This is an infrastructure project that is designed to help open up Cameroon AND land locked neighbouring countries. It's being supported by the IMF. There are new mega hydro projects (recently funded) going in close by.


The list goes on but you get the picture.