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Keep em' strike'n! lol - Copper prices will continue to rise due to demand. CNYC will be a great company/stock to have been apart of.. I'm all ready looking forward to next year here...
Very nice one...
Errands to run so I'm out of here...
Make some money on your B-day
Happy B-day Bud!
Sometimes unexpected issues arise that take time to resolve, such as what was stated in last Friday's PR. I think they're back on track...
I'm glad to have been here for the TSX listing process and looking foward to seeing this through production which could be late 2012.
Exactly - That's why I put my money here.
I'm missing patience huh? Right...
What I was referring to in my previous post had nothing to do with me having patience or not. I believe in the company but not so much in the services provided to them by MGI. Let's see how much "patience" the company has with them.
The company has had more than plenty of time to get the ball rolling. I've been hearing from them since December about what their intentions were as soon as they got the TSX listing. For them to get listed and then go 2 weeks or more (since there are no plans to release news this week) was not expected by me, you, anyone else on this board, or even the company.
They've even stated they're not happy with how things have been handled the past 2 months. I believe I have the right to say if I'm upset at times here. I don't hide in the shadows and only come out to post cheerleader ra ra posts when something positive happens.
FWIW the last 12,000 shares traded today were bought thru MGI Securities Inc.
I don't have confidence with anything happening with that group. CNC - .22 x .29 now. Am I missing something here? Was getting listed on the TSX a bad thing?
I hear ya... eom
CNC - .21 x .315 - More shares being sold than have been bought since inception on TSX... Where they get the shares to sell? Looks like they didn't obtain the interest of investors with their eblasts they sent out last week... The company had a meeting yesterday with their broker/TSX Sponsor Group MGI Securities. They planned on letting them know they haven't been happy with them the last couple of months. Not good so far.
http://www.mgisecurities.com/Home/p_Home.aspx
3:14 PM EDT 0.250 2,500
3:14 PM EDT 0.250 5,000
3:14 PM EDT 0.260 5,000
3:14 PM EDT 0.270 2,500
12:07 PM EDT 0.275 5,000
On a conservative basis the company estimates (based on past drilling and resource evaluations/calculations) their Copper Resource is over 1 billion lbs. With Copper trading at approximately $4.36 lb and a conservative resource of 1 Billion lbs = an Asset Value of $4.36 Billion dollars. They may have an opportunity to increase that resource 4+X's. Plus adding other significant credits like Molybdenum and Gold.
With the resource being at or near surface their mining costs should be very small…
Also, investors need to realize how low the share structure is. Insiders own approximately around 80% of the OS...
I had SR SR at .002 and PC FG at .0032... Made money off of both, but could of made soooo much more..
CNC - .275 x .33 down now on no volume. Go figure.. lol
See if the PPS moves higher in a few weeks with news... Until then I doubt they'll be much of a change..
I thought we'd be there by now. .21 x .33 currently on CNYC. I say the company has to continue searching for large institution/funds buyers to get involved...
I was told the same thing happened with ALLRF/AAA - Teens then mid .20s and then went to 2.50 very fast.
So I'm keeping the faith...
SR SR - You still holding? I'm hearing this one good make a very impressive move up from here. Of course I wish I had my .003 shares of SR SR & PC Fg... lol
CNC has at least 20k shares traded at .39 - All I have for quotes is the website below that is not in real time. It's shows .305 x .385 with a 15 min delay.
http://tmx.quotemedia.com/quote.php?qm_symbol=CNC
.20 x .33 - I think we need Bid support... We'll see what happens when we chew thru PERT's shares. 43k to go...
Canyon Copper compared to the 4 other Copper companies I mentioned in my previous post...
Canyon Copper - (TSX: CNC)
Location - Western Nevada
Resource - New York Canyon: NI 43-101: 158 million lbs of copper. Historical: 1.13 billion lbs of copper + 40 million lbs of molybdenum.
Stage of Development- Exploration stage. Offering a possible “fast-Track” Copper operation.
Market Cap- $ 21 Million
Shares: 61,928,359
Price: $0.30 - $0.35
Nevada Copper (TSX: NCU)
Location - Walker Lane, Western Nevada
Resource - Pumpkin Hollow: 9.3 Billion lbs of
copper, (using a 0.2% copper cutoff) + 1.45 Million ounces Au,
55 Million ounces Ag, and 30 Million tons of iron.
Stage of Development- Advanced development stage.
Market Cap- $300 Million
Shares: 56,531,920
Price: $5.30 - $5.60.
Baja Mining (TSX: BAJ)
Location - Baja Mexico
Resource - 265 million tonnes grading 1.50% copper equivalent.
Stage of Development- Pre-production.(2013)
Market Cap- $350 Million
Shares: 34,173,087
Price: $1.00 - $1.00
Copper Mountain (TSX: CUM)
Location - Princeton, British Columbia, Canada
Resource - 5 Billion lbs Cu + Gold-Silver credits
Stage of Development- Full Production 2011(expected), Construction initiated in 2009
Market Cap- $650 Million
Shares: 89,880,002
Price: $7.10 - $7.30
Taseko (TSX: TKO)
Location - British Columbia, Canada
Resource - Gibraltar: 75% ownership 450M tons .315% Cu Approx 2.9 B lbs Cu. - Prosperity: 5.3 B lbs Cu +13.3 M oz Au
Stage of Development- Gibraltar: Producing - Prosperity: Predevelopment
Market Cap- $1.1 Billion
Shares: 187,497,853
Price: $5.75 - $6.00
4 other Copper companies I was told were comaparables to CNYC...
Nevada Copper (TSX: NCU) = $5.40
Baja Mining (TSX: BAJ) = $1.22
Copper Mountain (TSX: CUM) $7.32
Taseko (TSX: TKO) = $4.47
Soon they'll be over 100 followers (Board marks) on this board. I believe there were approximately 20 when you mentioned this company last October.
Copper swiftly becoming the new gold - and more profitable, experts say...
Mohr said opportunities to buy smaller, established copper miners are rare, and with the price of copper so high, many companies could start bidding wars to get their hands on one.
http://ca.rss.news.yahoo.com/s/capress/110426/business/copper_prices
The Chinese have been approaching most companies with legitimate copper projects.
http://watch.bnn.ca/the-close/april-2011/the-close-april-6-2011/#clip445752
Earlier this year I asked Bob Meister what current TSX company is most comparable to CNYC. He told me Western Copper Corporation (WRN). This company dual trades on the AMEX just like CNYC expects to do.
http://tmx.quotemedia.com/quote.php?qm_symbol=WRN
http://www.westerncoppercorp.com/
Copper Exploration and Development
How are Copper deposits found and developed?
Copper mineral exploration is the principal method for finding the world's copper deposits. This is the domain of exploration geologists and the key phases of copper exploration and deposit discovery are:
•Area selection: Geologists apply geologic theories behind regional or large scale geology models to predict possible occurrences of copper deposits and the genesis of their formation. Once prospective areas are screened, land positions are sought by application for exploration rights, fee simple land purchases, or numerous forms of joint ventures or partnerships with land or rights holders.
•Target definition: Once prospective land and exploration rights have been acquired, geologists refine the prospective land, to delineate drill targets in areas with the highest probability of discovering economic copper deposits. Geologists use a number of tools to aid in this target selection. These tools can be broadly categorized as:
?Geological rock sampling and rock mapping: Geologists collect surface level rock samples and map rock structures to better understand regional and local geology conducive to copper deposits.
?Geophysics: Since copper is highly conductive, geophysical methods can be used to measure conductivity, resistivity and magnetism. This allows the explorationist to make a view on sub surface structures and detect anomalies of conductive suphide copper minerals and resistive host rocks
?Geochemstry: Geochemical analysis involves the use of the analysis of chemistry of sediments to target potentially mineralised zones that have surface level chemistry "signatures". Geochemical data is investigated for anomalies (single or multiple elements) that may be related to the presence of sub surface copper mineralisation
?Remote sensing: Often aerial photography and satellite imagery is used in the analysis of land structures that may indicate conditions favourable to the formation of copper deposits.
•Resource evaluation Resource evaluation is undertaken to quantify the grade and tonnage of a copper deposit and this is achieved by drilling . Drill holes are carefully planned on anomalies identified in the target selection phase. Once a drill hole has been completed, the drill core is removed so that subsurface rock can be assayed for grade and the rock types and mineralization can be recorded and mapped. The ultimate aim is to generate a density of drilling sufficient to satisfy the statutory standards of a mineral resource in terms of volumes (tonnage) and copper metal content (grade). There are several international recognized codes that define what is required to classify drill data as an ore resource.
•Reserve evaluation Reserve definition is undertaken to convert a copper mineral resource into a copper reserve, which has a higher degree of certainty to be extracted economically. The process is similar to resource evaluation, except more intensive drilling and engineering, aimed at statistically quantifying the grade continuity and volume (tonnage) of ore. This process involves cost estimates and takes into account the mining, processing and extractability characteristics of the copper mineralisation, and generates bulk samples for metallurgical testwork, involving crushability, floatability and other ore recovery parameters necessary for economic extraction.
•Feasibility studies A feasibility study is a study undertaken to determine and document whether a copper deposit is economically viable to become a mining operation. The study involves detailed engineering, permitting, and environmental, social and cost analysis. The results of this study are used to make a decision whether to proceed with the project, and are often used to evaluate whether financing will be available to construct a mine. Based on a positive decision to proceed, mining companies, together with engineering, procurement and construction contractors build the mine operation and prepare to extract the copper ore.
Does it make a difference to you or not, that they are now listed as a Tier One Company on the TSX Venture Exchange?
So is Bob Meister... eom
I'm sure they will...
No harm done... IMHO
They have stricter guidelines and higher standards to adhere to on the TSX for top tier companies. The company updated their disclosure on their website and the eblast... I'm glad there is a commission to review these items.
It's not a PR we want to see out of the gate, but they cleared up the issues and are back on track.
Now they need to work with their brokerage firm on bringing more investors to the table. This should have been taken care of prior to the TSX listing.
Plenty to look forward to..
1. Marketing campaign targeting brokerage houses in Canada.
2. 3-5 drill units on site.
3. Hiring of new geologist for site management.
4. Property reassessment of core samples for value.
5. Pre-feasibility study.
6. Feasibility study.
7. Production
8. U.S. up-listing to AMEX
9. Acquisition of neighboring properties w/ significant resources around existing site in near future.
I'm expecting the second week of trading for CNC to be better than the first week. It can't be any worse. I'm sure the company feels like we do and is upset with the dreadful start. They are working on the issues at hand and will have more positive developments to share with us in the coming weeks/months.
Canyon Copper Corp. issues clarifying news release
VANCOUVER, Jul 22, 2011, 2011 (Canada NewsWire via COMTEX) -- TSXV: CNC OTCBB: CNYC
Canyon Copper Corp. (the "Company") (TSX-V: CNC) (OTCBB: CNYC)
As a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure. The information contained in this news release is intended to provide clarification to prior disclosure contained in a stockwatch eBlast dated July 21, 2011 (the "eBlast") and disclosure on the Company's website (the "Website").
We are issuing this news release to clarify the following disclosure:
1. Non-Compliant Disclosure of Mineral Resources
The eBlast and Website disclosed a mineral resource estimate for the Longshot Ridge target at the New York Canyon Project contrary to National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). This mineral resource estimate disclosure is non-compliant with NI 43-101 for the following reasons: (i) inferred mineral resources cannot be added to other categories of mineral resources; (ii) fails to provide written disclosure applicable to mineral resource estimates; and (iii) fails to state the mineral resource estimate in tonnes and grades. Accordingly, we advise that such mineral resource disclosure is retracted and has been removed from the Website.
Instead, the Company's mineral resource estimate on the Longshot Ridge target should have been disclosed as an indicated mineral resource estimate, at a cut-off grade of 0.2% copper, of 16,250,000 tons at an average grade of 0.43% Cu, and an inferred mineral resource estimate, at cut-off grade of 0.2% copper, of 2,900,000 tons at an average grade of 0.31% Cu (see NI 43-101 Technical Report filed on SEDAR on May 6, 2010 and news release dated May 3, 2010).
2. Non-Compliant Disclosure of Historical Estimates
The eBlast and Website also disclosed a historical estimate prepared by Conoco Oil Company that is contrary to NI 43-101. This historical estimate is non-compliant with NI 43-101 for the following reasons: (i) fails to identify the source and date of the historical estimate; (ii) does not comment on the relevance and reliability of the historical estimate; (iii) fails to provide key assumptions, parameters, and methods use to prepare historical estimates, if known; (iv) does not state whether the historical estimate uses categories other than those set out in NI 43-101; and (v) does not state that the qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and that the Company is not treating the historical estimate as current. Accordingly, we advise that such historical estimate disclosure is retracted and has been removed from the Website.
Instead, the historical estimate should have disclosed that Conoco Oil Company, completed a significant drilling program and outlined a historical "drill indicated reserve" at Copper Queen. In an internal report dated September 21, 1979, Conoco Oil Company outlined a historical "drilled indicated reserve" of 142,000,000 tons grading 0.35% copper and 0.015% molybdenum for Copper Queen. The historical "drilled indicated reserve" cited above is mentioned for historical purposes only and uses terminology not compliant with current reporting standards. The reliability of these historical estimates is unknown but considered relevant by the Company as it represents a target for future exploration work by the Company. The qualified person has not made any attempt to re-classify the estimates accordingly to current NI 43-101 standards of disclosure or the CIM definitions. The Company is not treating this estimate as current mineral resources or mineral reserves as defined in NI 43-101. Historical reserves are not equivalent to mineral reserves as they are not supported by at least a preliminary feasibility study.
3. Failure to Name Qualified Person
The eBlast and Website failed to identify a qualified person who prepared or supervised the preparation of the information in the eBlast and the Website. This is contrary to NI 43-101 which requires that all written disclosure, containing scientific or technical information on a mineral project, must disclose the name of the qualified person who prepare or supervised the preparation of the information that forms the basis for the written disclosure, or approved the written disclosure. As a result, the Company has now disclosed on its website that Benjamin Ainsworth, P.Eng, BC, the President of the Company, is a Qualified Person as defined by NI 43-101 and has approved the written disclosure of the New York Canyon Project contained on the Company's Website.
Qualified Person
Mr. Ainsworth, P. Eng, BC, with Licence #8648 and the President of the Company, is a Qualified Person as defined by NI 43-101 and has reviewed and approved the contents of this news release.
On behalf of the Board of Directors,
"Anthony Harvey"
CANYON COPPER CORP. Anthony Harvey, CEO and President
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from the Company's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, the Company's ability to obtain additional financing, the Company's ability to complete the planned exploration program on the New York Canyon Project, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Cautionary Note to U.S. Investors Regarding Estimates of Measured, Indicated and Inferred Resources
This News Release uses the terms "measurer", "indicated" and "inferred" "resources." We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the SEC does not recognize them. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher category. Under Canadian rules, estates of "inferred mineral resources" may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute "reserves" as in-place tonnage and grade without reference to unit measurers. The term "contained copper pounds" used in this News Release is not permitted under the rules of the SEC. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or its economically or legally mineable.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/22/c7143.html
SOURCE: Canyon Copper Corp.
CONTACT: Canyon Copper Corp. Investor Relations 1-888-331-9326 (604) 331-9326 (604) 684-9365
(FAX) info@canyoncc.com
Copyright (C) 2011 CNW Group. All rights reserved.
-0-
KEYWORD: British Columbia
INDUSTRY KEYWORD: MNG
EM XC - I was looking a it last month when it was trading at .0003 - I knew I should of got some. It always cycles well...
Buys this morning on CNC...
10:45 AM EDT 0.330 500
10:45 AM EDT 0.325 2,500
10:41 AM EDT 0.280 20,000
Copper May Extend Rally to Record on China Demand
By Bloomberg News - Jul 17,
2011 Copper may rally to a record $12,000 a metric ton in the first quarter as stronger-than-expected demand from China, the largest user, and tumbling inventories spur imports, according to Maike Futures Co.
“If Chinese imports don’t pick up in the second half, there will certainly be a serious shortage,” Ren Gang, head of Maike’s research department, said in an interview. “Destocking is nearing the end.” The brokerage’s affiliate Xi’an Maike Metal International Group Co. trades up to 500,000 tons of metals and minerals a year, according to the company’s website.
Higher demand from China may extend a 49 percent rally in London copper prices amid expectations for global consumption to exceed supply. Imports of copper and products by China rebounded for the first time in three months in June after stockpiles tumbled 38 percent from this year’s high. Increased government investment on infrastructure projects and affordable housing may also boost demand.
“Besides the traditional demand from power grids, development of high-speed railways, subways, wind and hydro power plants add more demand,” said Wang Jun, an analyst at metals researcher Beijing Antaike Information Development Co.
Total investment in the power sector may surge 66 percent to 5.3 trillion yuan ($820 billion) in the 2011-2015 period from the previous five years, said Wang Qiankun, a researcher at the State Grid Energy Research Institute. That investment may require 25 million tons of copper, Wang said. The power industry accounted for half of China’s copper consumption in 2010, according to Antaike.
Price Gains
“I expect copper to touch $11,000 in the fourth quarter, and maybe $12,000 in the first quarter next year,” said Maike’s Ren. Three-month copper on the London Metal Exchange gained 0.2 percent to $9,694.25 a ton at 10:20 a.m. in Shanghai. It reached a record $10,190 on Feb. 15.
Based on downstream growth, copper demand in China could rise by almost 20 percent this year, said Ren. Still, the high price may damp consumption and trigger substitution, paring the increase to 10 percent, Ren said.
Copper consumption may grow 6.5 percent to 6.7 million tons this year, Standard Bank Plc said in a report on July 12. Demand may expand by at least 8 percent, said Cai Jinrong, a researcher at metals trader Wanxiang Resources Co. The global market faces a deficit of 377,000 tons in 2011, according to the International Copper Study Group.
China’s gross domestic product rose 9.5 percent in the second quarter, exceeding economists’ median forecast of 9.3 percent, after a 9.7 percent rise in the first quarter. Industrial output advanced 15.1 percent in June, the most since May 2010.
Housing Investment
China is on track to grow about 9 percent, boosted by local government investment, said Chang Jian, an economist at Barclays Capital. The expansion last quarter came even after the central bank boosted lending rates five times since mid-October and lifted bank reserve requirements to a record.
“Affordable housing starts will help China achieve a soft- landing this year, while at the same time providing space for demand expansion next year,” Ren said.
The nation started building more than 5 million units of affordable housing as of the end of June, exceeding half of the government’s full-year target, and more than 4 million units are expected to be completed within the year, Xinhua News Agency reported on July 14.
Imports Rebound The world’s largest metals and minerals consumer imported 1.7 million tons of unwrought copper and products in the first half, 24 percent lower than a year ago, according to the General Administration of Customs. Imports rose 10 percent in June from the previous month to 280,009 tons as buying from overseas became profitable and supply tightened.
Bonded warehouse inventories of copper are expected to fall by 450,000 tons this year from about 600,000 tons at the end of March, according to Ren’s estimates. About 400,000 tons of refined copper and products will be bought from commercial warehouses, according Ren.
Inventories at the Shanghai Futures Exchange-monitored warehouses were 109,461 tons last week, compared with this year’s high of 177,365 tons, according to the bourse data.
To contact the editor responsible for this story: Richard Dobson at rdobson4@bloomberg.net
.
Copper open pit mining...
Even before they start to mine it, the scientists know the value of the rock/minerals below the surface.. (Drilling, core samples)
http://library.thinkquest.org/05aug/00461/open.htm
http://library.thinkquest.org/05aug/00461/copper.htm
All those factors sound great.
Open Pit Mining...
http://en.wikipedia.org/wiki/Open-pit_mining
BU KX -
$0.1000 100 OBB 15:56:55
$0.1500 5,000 OBB 15:21:11
$0.1000 1,000 OBB 15:17:26
$0.1500 7,000 OBB 15:17:04
$0.1500 5,000 OBB 15:16:30
$0.1100 50,000 OBB 15:16:11
$0.1500 8,000 OBB 15:15:26
$0.1500 5,000 OBB 15:15:12
$0.1500 15,000 OBB 15:14:35
$0.0200 4,700 OBB 07/15
$0.0300 300 OBB 07/13
$0.0300 100 OBB 07/06
$0.0300 1,000 OBB 05/28
$0.0300 500 OBB 05/10
$0.0300 500 OBB 05/07
$0.0100 7,500 OBB 04/21
$0.0200 6,000 OBB 04/16
$0.0100 1,000 OBB 04/13
$0.0100 7,500 OBB 03/16
$0.0110 7,000 OBB 12/30
$0.0100 4,999 OBB 12/28
$0.0400 1,000 OBB 12/09
$0.0400 100 OBB 12/01
$0.0100 12,000 OBB 11/18
$0.0100 2,000 OBB 11/13
$0.0200 5,000 OBB 11/09
$0.0200 12,000 OBB 11/05
$0.0200 4,999 OBB 11/04
$0.0200 5,000 OBB 11/04
$0.0200 220 OBB 11/03
Trading was available on the TSX for CNC today. Not even one trade... All most laughable, but not quite. We'll see how the rest of the week goes..
They didn't do all this to have the price remain down at these levels. The CEO has a proven track record and is invested heavily in the company. I'm betting Harvey knows what the hell is going to happen here...
Should of sold all my CN YC this morning and bought MGR ND at .0008
I'll never learn...
Of course I'm joking...