Ann: Minim Martap Project - Key Agreement Executed, page-14

I posted this on 25 March 2021 https://hotcopper.com.au/threads/who-could-fund-cay-and-why.5969691/page-15?post_id=52034759

.....Since Cameroon is at high risk of debt distress, no doubt she will be very keen to see the project up and running. Under the circumstances, Canyon should have full support from Cameroon. This means Cameron is likely to fast track any related government approvals. I don't think China will make a move until the Mining Licence is ready to be issued (ML may not be issued until funding is secured) hence it is important for Cameroon to help Canyon to get to that stage as soon as possible. Win-win to Cameroon and Canyon......

Looks like Cameroon is doing what is in the best interest of the country so that Canyon can get this world class project up and running ASAP.

Also, regarding today's notice

1. ".....The Agreement was initially proposed by the Ministry of Mines in Cameroonand followingnegotiation over a number of key points, the Agreement was executed with the Company and theMinister of Mines in Yaounde Cameroon on 17 May 2021........

This is my favourite part. Obviously, Cameroon is very happy with what Canyon has achieved so far otherwise she would not have proposed to Canyon and signed up such an important agreement. Seriously, I strongly suspect the ESIA which is a key component of the mining permit application process for the Minim Martap Project may have been submitted and is well received by Cameroon.

2. ".......The Agreement confirms Canyon’s major obligations and rights in relation to the Project explorationpermits and stabilises the Company’s position in relation to the Project until the completion of theMining Convention for the Minim Martap Project...."

No end date? Excellent!

3. ".....A commitment by Canyon to present one or more technical and financial partners to the Stateof Cameroon prior to the execution of the Mining Convention......

No problem. I bet Canyon Management has been working hard on this for a while. Since Su? or before Su? But potential partner(s)/suitor(s) will not make a move until the Mining Licence is ready to be issued. IMO, this could happen anytime now.

So don't let today's silly price movement bother you. We need to be a little more patient.

Cheers.

Pika