"LIN just bought 75% of a similar resource for A$500,000"...prove it. Some of the tenements they have claimed to own in the past are still locked up in courts, are they not? So, did they really buy anything? Don't personally pay any attention to news that comes out of that company.
You know the grade coming out of Minim Martap if right at the top end. This last news only confirms it yet again. Problem with Canyon is many promises were made from various brokers about quick results...2 years ago...If you just evaluate what they have done; PFS completed, DFS 12 months away, rail upgraded, ports strategy negotiated? They are actually moving at typical speed for this type of development. I read enough in the industry press to know their product will be sought after. So while all is on track, the mindset that was projected was incorrect. Maybe they'll pull a rabbit out of the hat but if not I'm predicting outcomes will be clearer with delivery of PFS.
and the problem with guinea is twofold; country risk see https://www.garda.com/crisis24/country-reports/guinea and China risk, ie, if u are not Chinese u can't buy much bauxite. Will China try to lock up Cameroon as well?
CAY Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
