I thank to all posters given information above. I am still...

I thank to all posters given information above.

I am still searching about aluminium (bauxite) and trying to analyse the market drivers for making a forecast if it would be good to buy a bauxite explorer stock.

The first thing we should know is bauxite is very abundant;
you can find it everywhere. As an example; nearly all west part of Cape York QLD (around Rio Tinto's permits) is full of bauxite. There are many explorers there and they are ready for DSO exports. (MMI, MNM, Gulf Aluminium Ltd-private, etc.). And you can find bauxite in many of the Pacific islands; Solomon Islands, etc and they are or held by many explorers.  

And Africa, it's very abundant. There are many deposits in Africa including the one next to and surrounded by CAY's tenements; Minim-Martap and nearby Ngaoundal deposits are owned by Cameroon Aluminium Ltd (CAL), a joint venture between Hindalco Industries Ltd, Dubai Aluminium Co. and Hydromine Inc. They have a bigger and better permit than CAY as CAY have been aware the bauxite potential of this area because of this prospect. They have high grade bauxite; 466mt @ 46.15% AL_²O_3. If they start exporting CAY's development will be in danger. (I didn't check when they will start).

CAY is only exploring Minim-Martip prospect strike extensions IMO. The main prospect is in that area shown in the map below..



No one expects Aluminum market is going to take off quickly.
If it is going to happen it is going to happen in the long run, in 15 years as Rio Tinto said. The price and demand/supply charts show that it is unlikely, as there is also supply cuts by alumina manufactures eg. Alcao) and ore suppliers like Indonesia.

Rio Tinto's Amrun project in QLD is quite a big one for this market.
Rio have to speculate on the commodity market, they have no other choice. But we have choices. We can go and buy the gold stocks instead of buying the aluminium/bauxite stocks if we think that the market is going to be week and or even going to crash in the short or mid term.

When it comes to the recent capital raises haven't dampened in CAY; there are 175m shares on issue. Most of the buyers have bought in around 4.5c as the stock was trading between 4c-4.5c from Feb 2015 to Feb 2016. The current price at 16c nearly gives 400% profit to the majority of the buyers only in 6 months. (Only 6m shares were given at 11c by SPP). So it's very risky to buy at these levels. Another SPP might be imminent again as they only raise 600k-700k in every 3 months.