Australia's largest stock trading and investment forum Australia's #1 stock forum

CAY

2.74%

7.1¢ canyon resources limited

Tolga on register, page-4

First 4 Last

Share
Profile

Follow
Musi

82 Posts.

25

18/10/18

15:02

Post #: 36174140
Share

None
Sell
Hold
Buy
Not Held
Held
Preview

Originally posted by damosid88: ↑

Have been having a real close look at the 'whole' Canyon story, potential and scenarios. There is almost universal agreement that a bauxite shortage is coming in the next couple of years, these guys are sitting on a tier one bauxite asset and we are finally starting to see African nations realise that they need to get some of these major resources mined and shipped to bring much needed growth and income to their economies.

What I liked about this company when I first looked at it related to the development of the new deep water port at Kribi, the new highway being built from Kribi and the established rail infrastructure in place that links rail, road and port. Importantly, Cameroon actually has a strong history of granting mining licences and conventions and then sticking with them. I mean, have a look at a company like SDL that despite so many own goals they created themselves over ten plus years including having to fund and build a new 500 kilometre rial line through the jungle across two African nations, still had the support of the Cameroon government who granted them extention after extention to their mining licences and coventions. So sovereign risk in Cameroon from the potential loss of a mining licence is minimal in my view.

Putting aside the fact that Canyon has a world class massive tier one DSO bauxite asset, it only needs to build a 20 km rail spur to connect to existing rail that heads to the Kribi port. You think some of the aluminium majors won't have CAY on their radar?

There is another reason I am watching this one very closely. Seeing Tolga Kumova 'back in Africa' and on the Canyon register (albeit he is keeping very low key about this at present) suggests to me that he is looking for his next Syrah mark two. While Tolga has been investing some money into pure exploration plays whose share prices naturally go up and down while waiting for drill results and assays to be released, Canyon has clearly outlined its road to become a mining company with a ready made tier bauxite resource and a massive amount of work going into getting the necessary mining licences and convention asap. When you have had success with a company like SYR, you want another one to prove you can do it all over again. Investing in junior exploration plays are one thing but when you can get your hands on another tier one asset (watch it grow imo) and it can be mined and making $$ in quick time, that is what gets these guys out of bed each day in my opinion.

Watch this space I think.

Expand

Hi Damo,

Where is the evidence of him holding?

I have look at the Top 20 and can not find him on there?

Thanks

CAY Price at posting: 20.5¢ Sentiment: Hold Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

NWC

New World Resources inks complete PFS for Antler Copper Project in Arizona, USA

ATH

Trial for Alterity's neurodegenerative drug ATH434 shows reduced disability

VMM

Virdis Mining flags breakthrough with 76% neodymium and praseodymium recoveries

CTT

Cettire shares jump on FY24 revenue growth up 80% vs pcp – but stock still badly bruised

LRL

Labyrinth shares rocket by 219% on news of Comet Vale and Vivien gold project acquisitions

There are more pages in this discussion • 2 more messages in this thread...

First 4 Last

Add CAY (ASX) to my watchlist

(20min delay)
Last 7.1¢		Change -0.002(2.74%)		Mkt cap ! $100.3M

Open	High	Low	Value	Volume
7.3¢	7.3¢	7.1¢	$32.72K	449.1K

Buyers (Bids)

No.	Vol.	Price($)
2	91469	7.1¢

Sellers (Offers)

Price($)	Vol.	No.
7.2¢	45332	1

View Market Depth

No.	Vol.	Price($)
1	45206	0.072
3	121539	0.071
4	140870	0.070
1	95600	0.068
3	287726	0.067

Price($)	Vol.	No.
0.073	42964	1
0.074	65332	1
0.076	182000	1
0.078	41770	1
0.079	40071	2

Last trade - 15.36pm 17/07/2024 (20 minute delay)

CAY (ASX) Chart

Tolga on register, page-4

New World Resources inks complete PFS for Antler Copper Project in Arizona, USA

Trial for Alterity's neurodegenerative drug ATH434 shows reduced disability

Virdis Mining flags breakthrough with 76% neodymium and praseodymium recoveries

Cettire shares jump on FY24 revenue growth up 80% vs pcp – but stock still badly bruised

Labyrinth shares rocket by 219% on news of Comet Vale and Vivien gold project acquisitions

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Tolga on register, page-4

Top Stories

New World Resources inks complete PFS for Antler Copper Project in Arizona, USA

Trial for Alterity's neurodegenerative drug ATH434 shows reduced disability

Virdis Mining flags breakthrough with 76% neodymium and praseodymium recoveries

Cettire shares jump on FY24 revenue growth up 80% vs pcp – but stock still badly bruised

Labyrinth shares rocket by 219% on news of Comet Vale and Vivien gold project acquisitions

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News