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I got this from Bob in answer to a question about Sandfield...
"Things are progressing very well for Canyon Copper and now that a number of "side issues" have been attended to the focus is on moving the Company forward as quickly and as smoothly as possible.
The work that Sandfield had conducted was very basic to get an updated technical report completed so that their application to the exchange could be compliant and completed as soon as possible. As for a news release I have asked Management to prepare a corporate update for our shareholders."
Hopefully we see a real news release soon instead of emails...
I bet they are talking to Victoria Gold Corp. they have been making a lot of noise about the adjacent Santa Fe property and how similar the geology is. It might make sense to JV with them...you could have the same geologists and drill teams working both properties.
They recently sold some of their Nevada mines to Barrick for $24 million. So Barrick might be watching this play out too.
http://www.vitgoldcorp.com/s/news_releases.asp?ReportID=533567
Regardless, I wish they would come out with real news.
My understanding is that a JV is preferred to going after a private placement with PPS this low. I think the name recognition of a well known partner would be a huge boost as well. maybe Barrick will come to play...
from the 10-k...For the next twelve months, we have sufficient funds to meeting our annual claim payments, carrying out our geochemical sampling program on the New York Canyon project and meeting our ongoing reporting obligations. However, we will require additional financing in order to implement the proposed shallow reverse drill program on the Moonlight Property and the test drilling program on the New York Canyon Project
The fact that they have a geologist onsite developing new potential targets (with the gold and silver angle in mind) is interesting. I don't mind if they don't drill this year. It shows some responsibility with the cash they have on hand. they could announce a drill program and get the PPS up a bit or hold on to the cash and use it when they have a better idea where to drill for gold.
Meanwhile progress is being made toward getting at the surface deposits that can be easily leached into high grade copper. Sounds like they are trying to avoid further dilution.
time to wake up!
This is from a while back...It's interesting that the site offers a Chinese translation of the company profile...fishing for Chinese investors?
http://www.nafinance.com/zGetCompanyProfile.aspx?tradedSymbol=Cnc&langCd=En
I got a very similar email response from Bob when I asked about the site visits. He also had this to say about the resource summary that we are waiting on:
-I have been told that, with the recently announced site visit some of the details and findings from the geologists visit will be part of the updated resource calculation. This information is currently being implemented into the report, but I do not have any definitive timeline for that completion.
I'd also be interested to know how the adjusted resource estimate is coming along...
sorry that wasn't supposed to be on there...I was reading TSX.
Looks like we are seeing progress on the list below...plus they have started the permitting on Moonlight and plan a drill campaign in New York Canyon later this summer as well.
AWAITING:
1. Marketing campaign targeting brokerage houses in Canada. (we're seeing evidence of this)
2. 3-5 drill units on site.
3. Hiring of new geologist for site management.(Just hired geologists for each site both already familiar with their project)
4. Property reassessment of core samples for value.
Revise Longshot Ridge resource estimate incorporating re-assayed values of 2006 drill & systematic road cut samples. (in the works should be seeing this soon...)
5. Apply for permit to dril on & around Longshot Ridge & adjacent copper oxide targets.
5. Apply for permits to drill Copper Queen & Champion target areas.
5. Assess potentials of copper oxide systems similar to the Longshot Ridge at the nearby Power Line & Buffington mine workings.
5. Initiate further work on metallurgical testing & environmental base line studies for Longshot Ridge deposit.
5. Pre-feasibility study.
6. Feasibility study.
7. Production (not restricted by season changes).
8. US uplisting to AMEX. (Done!)
9. Acquisition of neighboring properties w/ significant resources around existing site in near future. * COMPLETED *
looks like it went through some sort of computer translater... maybe they are reaching out to european or French canadian investors too?
OK so the totals that they gave (16,250,000 at .43%, etc) were re-hashed figures but the chart inserted was the re-assay figures of holes that had not been included in the previous estimate. I'd like to see a map of the property with these holes labeled by grade. There were some pretty good intersects in that list and if they are toward the edge they could add quite a bit to the estimate.
After all of the waiting this is a bit less than thrilling. Giroux consulting is the same group that put together the 2010 estimate so they should be faster bringing the assay results in to the estimate. I expected to see the results from re-assayed holes not a re-hash of the old estimate and a lesson on the logistics of bringing ore to market...CNYC get the ball rolling.
I'm sitting tight and holding. The copper is still in the ground and I figure the assays are only going to be either additive or confirm the previously known resources. The company added the moonlight porphory project for a bargain price, doubling potential assets and the PPS has slipped over 60% since last year.
I think this management team knows what they are doing so I'm not going to panic yet. No news isn't bad news, it's just no news.
Moxy, where do you get the 6.37 PPS for a buyout? I would love to see that much if it happens.
Insider buys....
http://www.mmdnewswire.com/12-84190.html
VANCOUVER, BRITISH COLUMBIA, CANADA (MMD Newswire) January 23, 2012 -- Yates James Ernest purchased 50,000 shares of Canyon Copper Corp stock, or $5,500 worth, as noted in an SEC Filing today. As reported in the filing, the transactions occurred on January 18, 2012.
After the transaction, Yates James Ernest's stake was reported as 484,067 shares of Canyon Copper Corp stock (a 11% increase from before the transaction took place). Yates James Ernest's title was listed as "Director" at Canyon Copper Corp within the filing.
As noted on January 23, 2012, Yates James Ernest's purchase was done directly over 1 transaction on January 18, 2012. The share price for the transaction was $0.11 according to the regulatory filing detailing the trade.
If we look over the past 12 months, Yates James Ernest has sold a total of 104,900 shares of Canyon Copper Corp, proceeds from the sale totaled $13,537. Over the same time period, Yates James Ernest has purchased 304,900 shares of Canyon Copper Corp, with a total cost of $73,787.
Let's take a quick, high-level look at insider trading at Canyon Copper Corp over the past 12 months. A total of 104,900 shares of Canyon Copper Corp stock was sold by insiders, totaling $13,537. Over the same time 12 month time period, 1,193,042 shares of Canyon Copper Corp, for a total value of $393,673 were purchased by company insiders.
Good historic article on the moonlight project. Looks like Placer Dome was consolidated into Barrick Gold (explaining the shift in focus to Gold noted in Canyon's PR)...
http://www.smallcapmedia.com/articles/gold-metals-exploration/gold-metals-exploration-september-18-2007.html
Bucle your seat belts, we're getting ready to take off.
I'm encouraged by the recent volume. Maybe the Canucks are waking up to CNYC. Still, I agree..There won't be any real move up without a positive report from the assay results or some other major news.
SPJ- Things are definitely moving slower than anyone thought, but I would be happy to see any progress on the list. That list is what will move this mine into production. A producing copper/Moly play won't be trading at .28 for long... Weren't we talking about this being a 10 to 20 dollar stock a couple months ago based on the current estimate. If the new figures are additive, all the better, but even if they aren't that doesn't change what they have had in the ground all along. I'm still buying when i can.
hit the ask for a few today. hoping volume picks up.
Great summary,
but if copper queen is at .35% moly at today's $17/lbs the moly value should be $168,980,000,000.(much more than the copper value)
I'm going to check on the company site to see what they say about the moly content of the samples taken before I get too excited.
Anyone out there following this? I've been slowly buying over the last few months, but it is getting really thin. Company says they are waiting on docs to file their annual financials. Any insight?
Here is a link to some one reselling Kryron terminator body armor kits...
http://www.resolutiongroupinc.com/index.php?option=com_weblinks&view=categories&Itemid=120
looks like they are having success at building marke share. lots of pics and videos from the Alabama demonstration.