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I agree. Great post. Thank you...eom
If they have had the money to drill since last June/July then why haven't they started? It's like they're trying to do all they can, not to get to the point where they have to drill. Remember, Phase I of their Exploration Program was to have been completed by the end of 2011, as stated in their PR from August 2011.
I don't see a R/S in our future either.. eom
Maybe Bob Meister will answer your questions. He stopped answering my questions because they became to difficult for him to skate around...
I would hope they wouldn't need to affect a R/S with the share structure being as low as it is.
They will need another round of financing for phase II of their exploration program? Last financing was at $.35 - Do you think they'll do one at $.05 next time?
Was hoping someone would pick up on that. Now when will it become a significant factor here?
Shouldn't the PPS be higher with just the copper resources alone they have on the properties? Why doesn't the current PPS reflect these resource totals. Don't they still have to prove the Moonlight resource estimates? How long will this process take?
New investors should take the time to read the PR's from the company's website. They PR's go back to 2004. Even though management has changed it appears history continues to repeat itself for this company. PP, followed by drill program, followed by R/S... Not saying this cycle will continue, but growing more weary of it now than I was last year.
It's well beyond time for them to find big investors to come in and buy on the open market. Also, no insider purchases at these prices? Maybe TSX rules on percentage of shares the insiders can own inhibiting them from buying? If no such rule applies then it doesn't bode well for shareholder confidence that they aren't buying at current prices.
Still looking forward to the day they initiate a drill program on either property. Not saying that will attract new investors, but it would be a relief to know they are working.
As far as the PPS rising, I see no reason at this time for it to happen.
What matters most to me from today's PR is that the proposed drill program will not take place in early summer like they said it would in a PR from March. In fact, it won't happen this summer at all. This is not a surprise. In an earlier post of mine I stated this would happen. The rest of today's PR is just filled with gibberish that will fall on deaf ears.
Now instead of giving a timeline they say the "Proposed Drill Program to start after further Metallurgical Work on Moonlight Property." Really??? -
Bob Meister told me they were going to start a drilling program by February 2011 and that management would be very dissapointed if their stock wasn't trading over $1.00 by the time the TSX listing was approved.
Fingers crossed that this sector as a whole will be better off next year at this time, and CNYC will have accomplished something.
I'll add more shares if this drops below .05
It may someday, but it definitely won't be soon.
Thanks...
Might get down there real soon. See if the guys who were touting the $hit out of this in 2011 have anymore shares for sale...
You think the company has thrown in the towel? If not, then adding at these levels or below could be a good bet. With our averages so high and the amount of money already invested here it's hard to throw anymore at it. Fool me once, shame on the company. Fool me twice, shame on me.”
Can you believe my response to you(below)from last August still holds true today? Truly pathetic...
sweetpepperjam
Thursday, August 25, 2011 8:01:56 PM
Re: crossbow post# 2532
Don't get your hopes up... It'll be a long time before the PPS gets back up to a high enough level where 98% of us will be able to break even.. IMHO
Only a handful of investors are above water here. Okay maybe not that many. But hey, that's okay. Everything will be just fine. We all need to have patience... I'm in nooooo hurry. Why would any investor want to make money quickly? Isn't it better to be in a stock that if you sold you'd lose money than be in one that you'd make money on and move to the next stock?
Getting close to a year that I have been here. I thought this would of done a lot better by now. If you go back 10 months and read the posts here up to present you'll see that I wasn't alone in my thinking.
Of course the market conditions have been horrible, but the company hasn't done anything to help the situation. Delays every step of the way. When we received good news in May and started to get buying pressure a large seller stepped in. Now we have no true Bid until .08 - The company can't find any investors to even hold the Bid. And trading on the TSX has been embarrassing to say the least.
So again I say don't get your hopes up. I see this doing very well by this time next year if they can start production or get a buyout offer. Until then I see no proof of them being able to get the PPS up. Nothing in phase 1 stands out enough to prompt any real buying pressure. If we were to get any buyers in September it'll be met with strong selling pressure from investors trying to break even here and moving on.
JMHO - FWIW
Shouldn't be long before this hits .03 range - Wait for the next PR to help it get down there... That'll be time to average down IMO.
Plenty of shares still at .075. Last day of July and still no word from the company.
7/16/12 - "I do know that Ben is(or has) composing a news release that updates our shareholders also." Bob Meister...
.05's could be around the corner again. I'll try to get some there. You'd think this could get to .10 at some point again?
I think the advisory board is just made up of a circle of friends in the industry that serve on other boards or in management postions together of other companies. Check out the other companies and you'll see they don't amount to anything either.
Can't wait to see the update Ben has been meticulously working on... Maybe we'll get the PR before August? I highly doubt it.. Bob Meister shouldn't tell investors Ben is working on a PR. IMO It's just a diversion to stop investors from asking him more questions.
Seriously, the next update should be that they received their permits. What else matters at this point? They could put out an PR regurgitating previous PRs and telling us they are still in business. But what does that accomplish?
Maybe we'll get lucky while we wait and they will update their website with more photos of guys posing with rocks.
I was thinking something would happen with this company by late Fall. Now I think it'll be more like next Spring or early Summer. There is no evidence that they are truly serious about breaking ground this year.
Bob Meister always says Ben is making final touches to a PR. Then a month or more later a PR is released with regurgitated material from previous PR's. Same cycle repeated time after time here. Don't see it changing anytime soon.
Maybe tomorrow I'll write what I believe will be in their next PR. Then after they release their next one we'll see how close mine was to theirs.
Thanks. I guess getting much of nothing is better than nothing at all. Okay, maybe not...
July 2012? Have to make sure I put the year in there...
Proposed Drill Program on Moonlight Property (March 12, 2012)
Canyon is also pleased to announce that it has started permitting for a shallow reverse drill program at the Moonlight copper oxide deposit in order to establish a resource estimate of the oxide mineralization in a manner compliant with NI 43 101 regulations. The drill program is planned for early summer 2012
It's early summer now. I'm willing to bet the drilling doesn't start in early, mid, or late summer... If they start at all this year I bet it won't be until late November.
Canyon Copper has assembled a management team with the experience and real-world expertise to move its projects forward towards production. Didn't they use to have written on their website or PR's that they were fast track to production? Maybe that's what Bob Meister use to write in his emails. What a joke.
Tomorrow is the first day of summer and does anyone think they are any closer to drilling than they were in March?
Mar 12, 2012
Canyon Copper Corp. Plans To Revise 2010 Longshot Ridge Resource Estimate
Starting Permitting For Copper Oxide Drilling At Moonlight Copper Porphyry Property
----- Original Message -----
From: Robert Meister
To: 'Larry
Sent: Thursday, January 05, 2012 10:44 AM
Subject: RE: CNYC 2012
Canyon Copper, We have been outlining our plans for the coming months these last couple of days. Canyon Copper will be more pro-active with our marketing/promotion and exploration this year as we have LOTS to make up for and LOTS to accomplish. We have a long list of initiatives that will be launched, so look for a definitive change coming.
Talk soon,
Bob
Yay... Can hardly contain my excitement.
lol - Would like see new pictures of drilling operations soon
CNYC has met their goal for the first half of 2012 by doing absolutely nothing. Congrats to them...
Now lets see if they meet their goal of starting a drilling program in the last 6 months of 2012. I'd bet against them if they weren't 1 for 1 so far for the year.
Canyon Copper Corp = Crickets Chirping
Who knows, maybe there is more than copper in them there hills...
CORPORATE OBJECTIVES
Identify and develop world-class mining properties
Highly regarded management team will advance the corporate vision
Aggressive drill program to expand current NI 43-101 Oxide Copper resource
Develop database for economic scoping study
Target: a 200 million tonne Copper/Molybdenum/Gold Sulphide resource and become a near term producer :ACCOMPLISHED! MOONLIGHT Porphyry Copper Project
Establish a project pipeline of other significant Copper deposits
You better be right!
lol - j/k of course...
Since their Awareness & PR Campaigns are in full swing I'd expect to see something else released this week... JMHO
Right. If it had HUGE potential at .40 last year than it should have ENORMOUS potential now at .05.
Bids stacked deep at .05 - Not even summer yet. If/when .05's fall I will definitely need to scrape more money together to get .03's or less. Trying to add up how much money I'm down, my family, friends & coworkers... Anyway, just need to have a little light humor during this time.
Buy when no one else is, right? Or is that a sucker is born every minute? I get these two mixed up...
Remember the PPS was never going to get this low because Bob and officers know where 80-90% of the shares are.. lol - Right...
As of May 8, 2012, the Registrant had 68,696,934 shares of common stock...
I know you have had some bad luck with Vancouver stocks, but this one has been through two R/S in the last 3 years. The last one was minute, to fit the TSX guidelines. I don't forsee another one. This is just my opinion.
We got here 2 years to soon and .25 to high... Besides that all is okay... lol
Ok... That's why I'm saying the PPS is going no where fast.
There are no big investors lining up to buy this stock at this point in the game. Highly unlikely until we're much closer to production. Which is when? They haven't even stepped foot on the ground yet. Even the insiders stopped buying shares.
In the meantime there will likely be another round of financing. And we don't know how shareholder friendly that will be...
Anticipated Expenses posted below from FORM 10-Q ended March 31, 2012. IMO There will be another round of financing done in the next 4-6 months. At what price?
As at March 31, 2012, we had cash of $893,983. For the next twelve months, management anticipates that we have sufficient funds to meet our minimum cash requirements to fund our proposed exploration program on the Moonlight Property and to complete Phase One of our exploration program on the New York Canyon Project. However, we will require additional financing in order to implement the proposed test drilling program on the New York Canyon Project and to meet our ongoing expenses due in the late 2012.
PLAN OF OPERATION
The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the nine month period ended March 31, 2012 and changes in our financial condition from June 30, 2011. This discussion should be read in conjunction with the Management’s Discussion and Analysis of Financial Condition and Results of Operation included in our Annual Report on Form 10-K for the year ended June 30, 2011 filed with the SEC on September 28, 2011.
Over the next twelve months, our plan of operation is to complete following exploration programs on our mineral properties:
New York Canyon Project
Phase One of our exploration program on the New York Canyon Project involves the re-analysis of the 2006 Longshot Ridge drill pulps and initiating environmental base line studies, which will permit us to conduct advanced exploration, if warranted. We commenced Phase One of our exploration program in July 2011 by delivering the drill pulps from the 2006 Longshot Ridge to Sparks Laboratory in Nevada. In December 2011, we received new assay results and these results were audited by an independent consultant for quality assurance (QA) and quality control (QC). In March 2012, we engaged an independent consultant to conduct a review of the results in order to provide us with a more robust estimate of the project and assist us in identifying key targets for a drilling program at the New York Canyon Project.
In late 2012, subject to obtaining financing, we plan to drill test the oxide mineralization found to the north and northeast of the Longshot Ridge deposit. This represents the initial stages of Phase Two of our exploration program on the New York Canyon Project.
Moonlight Property
In spring 2012, we conducted a preliminary assessment of the Moonlight Property, which involved a detailed review of all historical data on the Moonlight Property. Based on the results of this preliminary assessment, we have decided to commence a shallow reverse drill program at the Moonlight Property. The drill program is scheduled for early summer 2012 and will target the copper oxide deposit on the Moonlight Property.
Anticipated Expenses
We anticipate that we will require the following funds for exploration programs and our ongoing operations:
ITEM AND ACTIVITY 12 Month Total
Budget
LAND STATUS
New York Canyon Project
2011 - 2012 unpatented claim maintenance fees $184,000
Monthly Payments – Patented Claims 36,000
________________________________________
Moonlight Property
Assignment and Option Payments 50,000
2011-12 unpatented claim maintenance fees 48,000
EXPLORATION PROGRAM
New York Canyon Project
Metallurgical sampling and testing 75,000
Environmental base line study work 55,000
Geological mapping/geological survey 30,000
Field supplies and support 20,000
Contingency 25,000
Moonlight Property
Drilling 250,000
Metallurgical sampling and testing 50,000
Environmental base line study work 30,000
Geological mapping/geological survey 30,000
Field supplies and support 20,000
Contingency 25,000
GENERAL AND ADMINISTRATIVE EXPENSES
General and Administrative 297,000
TOTAL $1,225,000
Moving forward. Finally going to set foot on their properties after all this time. They started permitting in March. We should hear something soon on the approval of their permits. Will drilling begin in June, July, or August?
Also in March they engaged Giroux Consultants to incorporate the 2006 drill program results into the 2010 Long Shot Ridge oxide resource estimate. It's been 2 months. I assume we'll get an update soon on this as well.
I wonder what part of the process will actually bring in institutional investors. Heard they would be buying once the TSX listing was approved. That was almost 1 year ago and the buyers never came. Not meant to be sarcastic with this question. Just wondering at what point will we see this. I don't see it happening until both properties resource estimates have been updated and that won't be until 2013. JMHO - Anyone else have an idea?
Seriously, what would bring in new buyers at this time?
If the company keeps moving forward as planned everything will be fine once production nears...
Canyon Copper Corp. - Oxide copper targets to be reviewed by geological team including independent consultant
Canyon Copper Corp (OTCBB:CNYC)
Wednesday 16 May 2012
Canyon Copper Corp. ("Canyon" "Company") (TSX-V: CNC) (OTCBB: CNYC) is pleased to announce that it has commissioned a visit to the Moonlight and New York Canyon Properties both located on the famous Walker Lane mineral belt. A team of Canyon's senior geologists with an independent consultant will be looking in some detail at the properties with particular emphasis on the potential to expand the copper oxide potential of the Longshot Ridge and Moonlight systems. It allows an opportunity to review the immediate exploration plans for each property. The independent consultant visit is important for the continuing development of the Moonlight project as it is planned to update the earlier NI 43-101 report completed for Sheffield Resources Limited in 2006.
Upcoming programs for Canyon Copper:
Canyon is focusing on the copper oxide deposits at the start of the exploration and development of both the New York Canyon and the Moonlight Copper properties for the following reasons:
Both have the potential to be brought into production in a shorter time frame than the much larger operational size that is represented by the sulphide bodies associated with the oxide bodies.
The capital and operating expense for a copper leach operation would be expected to be much less than that of a larger sulphide recovery plant. This could allow senior financing of the project with a combination of an off-take agreement to buy premium grade copper cathodes, contracted bank loans and equity financing.
The oxide deposits can produce high quality cathode copper that is typically sold promptly at a premium to the traditional refined metal prices for copper.
Sulphide concentrates are sold to a smelter and are subject to variable treatment and refining charges (TC/RC), currently at about $80/tonne of 90% of the contained copper in the concentrate, and higher freight costs since the sulphide concentrate generally has less than 30% by weight of copper metal in it. This results in additional freight costs for the 70% waste and moisture in the copper sulphide concentrate. Payment may take months to complete through times of varying metal prices and foreign exchange rates.
Proposed Drill Program on Moonlight Property
Canyon has announced that it has started permitting for a shallow reverse circulation drill program at the Moonlight copper oxide deposit in order to establish a resource estimate of the oxide mineralization. The drill program is planned for early summer 2012 and will be greatly facilitated by the network of new logging roads in the area. In support of this work, the old drill core, in storage in nearby Crescent Mills, will be re-logged to confirm the limits of the oxide mineralization and the bornite chalcocite sulphide mineralization.
As previously disclosed, the Moonlight copper oxide deposit represents a significant target for Canyon's exploration and in a 1972 internal report for American Exploration and Mining Company ("Amex"), a wholly owned subsidiary of Placer Dome, C. Gillette, a mining engineer employee of Amex, reported a historical oxide "resource" of 12.2 million tons of "ore" at an average grade of 0.54% Cu at a cutoff grade of 0.25% Cu, overlain by 10.8 million tons of "waste". This "waste" was so characterized because of a lack of assaying of the top 3 - 9.1 meters (10 - 30 feet) of the drill holes. Sheffield recovered more than 0.25% copper from virtually all the near surface material when drilling adjacent to holes where Amex had drilled and reported 6m (20 feet) of overburden. This suggests a target size for the oxide resource could be larger than the preliminary Amex estimate. The historical "ore" 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 Canyon as it represents a significant target for future exploration work by Canyon. 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. Canyon is not treating this estimate as current mineral resources or mineral reserves as defined in NI 43-101. Historical "ores" are not equivalent to mineral reserves or resources as they are not supported by at least a feasibility study.
Proposed Drill Program on Longshot Ridge
In 2012, Canyon plans to drill test oxide mineralization that was identified to the north and northeast of the Longshot Ridge deposit. Two other areas of oxide copper occur in the north central part of the claims, the Buffington Springs and the Powerline Showings. These have yet to be assessed but have potential as additional sources of oxide copper. Historically, high grade oxide copper was hand mined from these two areas for direct shipment.
Qualified Person
Benjamin Ainsworth, P. Eng, BC, with Licence #8648 and the President of Canyon, 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,
"Benjamin Ainsworth"
CANYON COPPER CORP. Benjamin Ainsworth, President
I'm down 30k here. So if anyone has a problem with my posts they can blank blank blank...
Of course I hope this turns around for us. I may need to get a second job if it doesn't..
Late for an appt. Take care!
I know.. I was just having a bit of fun with it.. Either that or cry.. lol
Gotta run...
You actually have an extremely low average here compared to 99% of the other investors. I would assume most average .25-.35
Yep - I just happened to take time to look at the stock and was a bit surprised to see so many shares had traded at this level. .05 do look like they will come unless management decides to buy more.
I don't see a R/S in the future so anything around this price I can pickup will help when things turn next year.. JMHO
I just did. Probably should of waited for .05's though. Going to be a lonnnnngggg year..
Under 60,000 shares to .20!!! - lol
Come on people. If this was so cheap at .15 why aren't you buying now?
Cheerleading rah rah rah... lol
No. You're welcome.
Someone ought to call Tony Harvey at 1-888-331-9326 ext. 224, and tell him he should focus his time on CNYC, not that complete POS uranium company... They're so busy with the other POS company that they put out a PR in March saying they have decided to write off 2012 for CNYC.. Yep, that's how you instill confidence with current shareholders and work to get new ones.
That's why their awareness campaign has attracted no buyers. Interested investors who read the awareness matierials and then go check out the company's recent PR's will be as baffled as we are.
They've known for 2 yrs that their buddies Jenkins & Kerr were going to be working with them. Could of easily released that non-impact news anytime since 2010...
Gee.. I wonder why the overseas investors they had lined up for financing never came through???
If you look at it positively 2012 won't be a complete waste. Atleast it gives Bob plenty of time to work on his hockey game.
Very slow progress. I've been waiting for 1.5 years for them to start work on any of their properties. I'll feel like a kid in a candy store if they ever do.
Who knows why they decided to wait until summer and LATE 2012 to start their(PROPOSED)drill program when they should of started it some time last calendar year.
You know how long it took them to update their last resource estimate. Don't expect these to be any quicker.
Glad they are moving forward, but check out the companies the 2 guys are associated with they just hired and you will see we are trading higher than them.
Patience... Funny how people were throwing this word around last year when investors, including myself, were asking WTH was going on behind the scenes. Now we've gone from over .40's to under a dime. To each their own. I decided to stick it out of my own free will. I will try to average down once this hits bottom.
I don't know what will draw new investors to CNYC in 2012. 2013 is only 8 months away. 2013 could be a good year for this company if all goes as planned.
They have money in the bank so let's hope any new financing deal favors us shareholders.
DYNV - Nice call. I picked up a few at .13 this morning.. Thanks
I wish their awareness campaign would of brought in at least one large investor... I love the recent articles but hate the zero buying interest is has obtained.
Almost May now so hopefully they'll be drilling on their properties By August... Who knows, maybe they'll surprise us with something positive between now and then.
I hope the company has a PR with substance lined up for next week. I really did like the recent articles on the company, but I may have been the only one who did. The investor community sure didn't open up their pocket books and share in my enthusiasm...
Time for the company to walk the walk...