61 Days Until The AGM, page-20

Fully aware that there has been talk of setting up a refinery in Cameroon but you obviously are not aware that holds no relevance at this stage.

Yes a refinery is relatively straight forward project to get into place but the energy to feed it is not. A refinery could be at least 10 years away, maybe longer. Furthermore keep in mind at this stage it's simply just talk.

An energy crisis in China to the point of needing to shutdown refining bauxite plants can only mean bauxite stockpiles growing, meaning downward pressure on the bauxite price, and refining of aluminium pulled back, meaning an upward pressure on the aluminium price.

There is a lot of talk of how the upward trend in the aluminium price is positive for Canyon, why? CAY wants to mine bauxite, not refine aluminium.

The fact is my post holds a ton of relevance because positive feasibility metrics are based on one point, the price of bauxite.