Canyon Resources’ Minim Martap bauxite project in Cameroon has received a big tick of approval in recently initiated stock coverage by Foster Stockbroking.
The attractive economics of Canyon’s (ASX:CAY) Minim Martap – a project with a 1 billion tonne mineral resource at 45.3% aluminium oxide and 2.7% silica dioxide, and reserves of 99Mt at 51.6% aluminium oxide and 2.4% silica dioxide – led to Foster branding it with a speculative buy tag and setting a 12-month price target of 32c.
That’s a 20c premium to the price of the stock on the report’s release, and an attractive increase on the company’s 12-month share price high of 18.5c...........
https://unauthorised investment advice/resources/canyons-cameroon-bauxite-behemoth-gets-a-tick-of-approval/
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Canyon’s Cameroon bauxite behemoth gets a tick of approval
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