Short Term trading Week Starting: 19 Dec, page-99

STTCOMP CAY, FA Long

(ASX: CANYON RESOURCES LTD : (CAY)
SP: 10.5c
MC: $21.02Million
Cash: $730,000 as at 30^th SEPT 2016
Shares: 239,723,495
www.canyonresources.com.au


Canyon Resources Limited is engaged in bauxite and gold exploration. The Company is focused on development of Birsok Bauxite project in Cameroon. The Birsok project is located in central Cameroon and is contiguous to Minim Martap bauxite deposit.

The Birsok project consists of over two permits covering an area of over 1,460 square kilometers and is located along raised plateaux. The Birsok project consists of two exploration licenses, the Birsok and Mandoum licenses, which are located in Adamawa bauxite province in central Cameroon. It has Taparko North project, Tao project, Derosa project and Pinarello project at Burkina Faso, West Africa.

Its Tarparko North and Tao projects are along strike from operating gold mines Taparko and Essakane. Its Tao project lies in Gorouol Greenstone belt. The Taparko North project is located in Yalogo belt. The Pinarello and Konkolikan projects consist of over six exploration permits. The Derosa project consists of over six exploration permits.

https://www.google.com/finance?cid=7007773

Catalyst: In their ASX 16^th December Market update, the Company advised that “the Chairman, CEO and General Manager have been in Cameroon “discussing the exploration and project development plans for a bauxite mine exporting DSO with representatives of the Government of Cameroon.”

I find it interesting that CAY management are in negotiations to secure additional permits in close proximity to the Companies existing Birsok joint venture project.

The mere fact CAY has engaged French specialist Legal Counsel to guide them, is a reflection of the significance of how the Company views the vast project potential.

CAY is in negotiations with operators of the rail line as a bauxite mining and export project must have solid infrastructure in place.

I cant help but remain Bullish CAY. The above ongoing developments are significant and I can see the project developing. The Company has its highest level of management involved at the coal face in Cameroon, has paid for expert Legal Guidance, and is in negotiations to secure more strategic permits, and is in consultation with relevant infrastructure operators.

The Company has advised that they will keep the market informed of any material developments.

Imo if any Company can pull this off, then it is CAY for the abovementioned reasons. Please also refer below for further information.



https://hotcopper.com.au/threads/ann-company-update.3117851/?post_id=21379622#.WFfJAeZ96Uk

https://hotcopper.com.au/threads/an...cay-ax.3006482/?post_id=20261261#.WFfHvOZ96Uk



Please DYOR as this is not a buy or sell recommendation
Cheers
GF