PS I've decided most of Cameroon is safe so will likely be doing a site visit in February. I've spoken to a number of people about the prospective journey, people who are on the ground over there. I wont be visiting the distant regions where there are troubles. I wouldn't walk through the back streets of Kings Cross at 2am on a Saturday night either.
If you just read Wikipedia or the articles put out by NGOs who are simply pushing their bias as definitive you might come to a negative view about the country and call it research. I do not. All countries have issues but IMO nothing is that black and white. In every country there are multiple shades of grey. There are good news stories in Cameroon too which also exists alongside more troubling issues. Canyon is contributing to the good news theme IMO. With Guinea being the model Cameroon likely wants to follow and the realisation that it is time for Cameroon to take control of its own destiny this seems like an opportune moment in history to make many positive changes. It appears Cameroon has already worked this out.
Furtehr to risk, the Congo has a multitude of mines that operate regardless of the situation in other parts of the country and it's in everyone's interest to keep them running. As they do. Otherwise the pain would be even greater for most. The economy would be the greatest victim and therefore the people. Sovereign risk? I've lost more on Australian companies than African or Asian companies.
The only way these countries will be brought into the developed world is if they adhere to some of the principles of the west and development is undertaken. Benefit then flows to all levels of society. What is important in my eyes is that governments and juniors act with integrity and look out for the benefit of all parties, a win win. A world class bauxite resource that offers clients a diversified source of low contaminant ore is a great start along that path.
I think Canyon are built this way. They are aiming to create the win win. Is it zero risk? No, but life is for living and calculating your risk/reward ratios, not for running away
DYOR but I've done mine and am very happy.
CAY Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
