# CAY - Canyon Resources



## System (29 June 2010)

Canyon Resources Limited (CAY) is a gold resource development and exploration company that listed on the ASX in 2010. It has a 100% interest in a gold exploration project in the Cue gold fields, where it will undertake a drilling program to further exploration. It is also reviewing opportunities to establish exploration targets in West Africa.

http://www.canyonresources.com.au


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## Wysiwyg (25 August 2011)

CAY following similar path to Adamus in West African gold rich green-fields. Sure to prove up a decent reserve of gold but with only 33 million shares there will be capital raisings along the way.


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## greggles (4 July 2018)

Canyon Resources forming a nice uptrend that commenced about 14 June. I like the move above resistance at 10c today and get the feeling this could go higher. I haven't gone through the announcements in any detail but suspect that there is news coming and this will be a catalyst for CAY.


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## greggles (9 August 2018)

Breakout for Canyon Resources this morning after announcing that it has been granted exploration permits for the Minim Martap Bauxite Project in Cameroon.


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## greggles (23 August 2018)

Canyon Resources will issue 32,258,064 new shares at 15.5c per share in a placement to institutional and sophisticated investors to raise $5 million. The proceeds will be used to further develop the Company's Minim Martap Bauxite Project in Cameroon.

Since my last post on 9 August, the CAY share price has risen from 17c to 24c today. Sellers look to be drying up.


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## barney (23 August 2018)

greggles said:


> Canyon Resources will issue 32,258,064 new shares at 15.5c per share in a placement to institutional and sophisticated investors to raise $5 million. The proceeds will be used to further develop the Company's Minim Martap Bauxite Project in Cameroon.
> 
> Since my last post on 9 August, the CAY share price has risen from 17c to 24c today. Sellers look to be drying up.




This is an interesting one Greg, and shown up a couple of times in Daily Risers.

The boyz in CAY are having the blow torch put on them from the ASX over their timing with the recent sequence of events including the $5 million cap raise which was arranged over a weekend   The ASX blow torch is about the equivalent of half a box of matches though!!

Boutique Melbourne corporate and investment advisory firm *BW Equities* has been brought on board simultaneously and will be paid $5000 per month in fees plus given 5 million Options which are already 25% in the money ….  ie. A cool $250,000 in profit if they converted and sold them now … nice gig if you can get it

BW equities provide trading advice to professional and Institutional traders … but of course neither they nor their clients would have had any involvement in the current price spiking

The recent granting of CAY's Cameroon Project looks positive, but given it only has a 2004 JORC, it is a long way from being anything just yet. 

It could go higher but if I owned it I'd be running a tight stop loss just in case the last person holding the parcel leaves the room  ….. I'm getting more cynical and suspicious the older I get

Price spikes


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## greggles (3 September 2018)

barney said:


> This is an interesting one Greg, and shown up a couple of times in Daily Risers.
> 
> It could go higher but if I owned it I'd be running a tight stop loss just in case the last person holding the parcel leaves the room  ….. I'm getting more cynical and suspicious the older I get
> 
> Price spikes




CAY has continued to hold up well since my last post on 23 August. Volume has been consistently above average and the uptrend is still intact. Given today's price action, it looks like a break above 30c is imminent. 

Those who got in at 15.5c per share in the placement last month must be laughing.


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## Trav. (22 May 2020)

Well I am going to put a disclaimer here --------- I got told to buy from a work colleague !!!! -------- So that normally means stay away

But out of interest I did have a look and whilst not going to jump in it does look interesting, one to watch maybe


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## Chronos-Plutus (22 May 2020)

Trav. said:


> Well I am going to put a disclaimer here --------- I got told to buy from a work colleague !!!! -------- So that normally means stay away
> 
> But out of interest I did have a look and whilst not going to jump in it does look interesting, one to watch maybe
> 
> ...




Yes, I have this stock on my radar, massive resource by the looks of it.





(https://www.canyonresources.com.au/)

The pre-feasibility study is due to be released soon also:


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## Trav. (10 June 2020)

Bugger, always the way  up 45% since my post.

Hopefully the work colleagues got in, but not for me as I am keeping out of this end of the stock pool.


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## barney (10 June 2020)

Trav. said:


> Bugger, always the way  up 45% since my post ...
> not for me as I am keeping out of this end of the stock pool.




Murphey's Law

Nice looking resource, however:- 

$90 mill market cap

Only about $2.5 mill in the bank  (They had almost $4 mill end of January this year and raised just under $1 mill at 16 cents since, so burning a bit of cash)

West Africa

Still at PFS stage

Volume on the recent rise is not convincing ....

I think you made the right decision Trav, irrespective of whether it goes up further in the short term (I suspect it hasn't got too much left in the tank till another Cap Raise)


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## Chronos-Plutus (10 June 2020)

Trav. said:


> Bugger, always the way  up 45% since my post.
> 
> Hopefully the work colleagues got in, but not for me as I am keeping out of this end of the stock pool.




CAY ticks many boxes, however I am an investor that needs continuous information which requires a management team that can provide a channel of communication that is efficient and trustworthy.

I prefer stocks like Myanmar Metals (which tick the same boxes); as I feel comfortable knowing that this team are essentially striving to do the best they can for the nation that they work in, the shareholders that are invested, and the employees that work for the entity. I am not convinced with CAY that they have these 3 major stakeholders' interests at the center of their work ethic.


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## Chronos-Plutus (1 July 2020)

Trav. said:


> Bugger, always the way  up 45% since my post.
> 
> Hopefully the work colleagues got in, but not for me as I am keeping out of this end of the stock pool.




Investors today were not very happy with the PFS; it seems. Looks like Canyon need to better define the resource.


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## depinto (5 December 2020)

Something's definitely brewing with CAY.
Last couple weeks heaps more volume, MOU'S  for rail and port ticked, reserve 1B tons  TICK, I believe next catalyst is imminent judging by last couple days trading activity .
  The share price is about to be re rated,  FOMO has set in now !

WATCH THIS SPACE


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## barney (5 December 2020)

depinto said:


> Something's definitely brewing with CAY.  Last couple weeks heaps more volume, MOU'S  for rail and port ticked, reserve 1B tons  TICK, I believe next catalyst is imminent judging by last couple days trading activity .   The share price is about to be re rated,  FOMO has set in now !




Could be right Dep, although it has been trying to gain traction for a while. 

Peter Su was in at 10 cents for a fair slice. It does worry me a bit when large Chinese Investors get involved though. Over the years I've seen a lot of promising Specs get strangled by the CI's who are happy to take an age to extract value from something, usually at the expense of less patient punters.  

Not saying Peter has that agenda but I imagine he will be looking to provide value to his fellow Chinese buyers. Whether that reflects in a long term appreciating share price I have no idea. Hopefully it does for holders 




barney said:


> (I suspect it hasn't got too much left in the tank till another Cap Raise




My above post was back on June 10 and ended up being the case.  Peter Su and others got involved at 10 cents for about $10 million back in late August. 

Definitely potential ... Above recent resistance at 14 will look better. 18 cents or above might get breakout traders involved. I've never had much luck timing Bauxite Co's but good luck to anyone involved.


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## depinto (6 December 2020)

barney said:


> Could be right Dep, although it has been trying to gain traction for a while.
> 
> Peter Su was in at 10 cents for a fair slice. It does worry me a bit when large Chinese Investors get involved though. Over the years I've seen a lot of promising Specs get strangled by the CI's who are happy to take an age to extract value from something, usually at the expense of less patient punters.
> 
> ...



At least now there are milestones set in place with Mining License by July 2021 expected.
I actually believe that a MOU for offtake is gotta be close judging by recent activity, I could be right unless there's some other development happening. 
Either way within 6 months I believe the sp will be higher  than 20c at least but still can't rule out a TO which I think is inevitable.


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## depinto (6 December 2020)

depinto said:


> At least now there are milestones set in place with Mining License by July 2021 expected.
> I actually believe that a MOU for offtake is gotta be close judging by recent activity, I could be right unless there's some other development happening.
> Either way within 6 months I believe the sp will be higher  than 20c at least but still can't rule out a TO which I think is inevitable.



Are you on Hot Copper  ?


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