I think it's worth revisiting this announcement.26 August 2021...

I think it's worth revisiting this announcement.

26 August 2021

Canyon executes Strategic Partnership Agreement and MOU with MCC

https://www.canyonresources.com.au/wp-content/uploads/2021/08/6A1047223_CAY.pdf

According to the Notice:

- MCC will assist CAY in financing, off-take, technical and business issues etc associated with the project.

- MCC's engineering division MCC-CIE is CAY's BFS contractor.

- MCC is active in global bauxite mining and refining and operates mines in Africa.

- MCC and CAY's MOU will expire on 31 December 2022 unless extended, just over six months away.

To me, what this means is:

1. If MCC or any Chinese SOE/Consortium wishes to take over all or part of the project or simply just sign some off-take agreements, they don't have to wait for CAY to announce the BFS to the market. They should have access to all the BFS information, with or without CAY's consent. Are they working on this? IMO, very likely.

OR

2. MCC's MOU with CAY will expire in just over six months. ....." The parties agree to reach a more comprehensive legally binding agreement for the implementation ofthe Project to replace the non-binding relationship established through the MOU and StrategicPartnership Agreement. .....

Are they working on this? IMO, unlikely.

I rule out the BFS notice being held up by ASX.

Enough from me. Let's see what happens next.

DYOR.