A comparison of those two Bauxite miners is quite striking.
CAY
BFS is scheduled for Jan 2022
https://www.canyonresources.com.au/wp-content/uploads/2021/12/6A1067542_CAY.pdf
Bauxite has to be shipped a long way by (existing) train route
High grade Bauxite
Aluminum Smelter in Cameroon
No production, still has to get financed for mining
Neg. income
MC AUD66m
MMI
Producing Bauxite
No earnings in the last years
But new management
New process introduced to increase capacity for loading ships
New strategy to go with bigger ships hence reduce freight costs
Big CR in 2021 - though money needed (desperately)
Short term loan in place for wet season
Neg. income (still?)
MC AUD60m
Anything I have missed?
https://**promotion blocked**/resources/aluminium-prices-spiked-62pc-this-year-which-bauxite-players-could-be-placed-to-benefit-in-2022/
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