Birsok is the poorer little brother in this Bauxite region. However, via this placement the region is consolidated and Altus got what? 5% of issued capital?
The consolidation was arguably necessary and although the price seems vaguely on the upside, does it matter? Altus would argue they put the Minim Martap option in play I'm sure. If management succeed, which I expect they will, this will seem like loose change but it did succeed in creating a monster potential project .
What we really need to see though is more news on resources and infrastructure. I am literally sitting in Sydney Airport waiting on a series of flights that will land me in Cameroon. I will be soaking up data for the next week and will report bck when I can.
I am interested in not only the hard facts of the resource and rail/port but also the soft facts of internal community relationships etc. I will have an opinion on the politics even if it will be less informed than that of the mineralogy.
I plan to visit Kribi port and I will be travelling on the main rail link that Canyon will use to transport their bauxite. I'm also keen to do a visual inspection of the 'high grade zones' that Canyon exploration is now focused upon. Loupe is in the backpack along with camera.
Given all the recent noise about Alumina shortages and the expected demand spike for Aluminium, Canyon should be very well positioned with the only as yet unallocated high grade bauxite deposit available.
CAY Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
