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Not a lot of action today, but about 16,000 shares sold at 12:30 or so, at 10 cents a shares, in two sales.
I got this reply late today to a question I asked Bob about the reason for the delay's in releasing the assay reports. I thought it might be because the material just didn't measure up to what they thought they had. His reply is very interesting.
I usually don't post replies I get from the company. This is an exception. Reply is below:
Hello John.
I hope you had a great weekend.
To be honest with you the answer is kind of the opposite: We already had a good idea about the results from the original samples that were assayed, our goal was to have the samples re-assayed to have the results up to current & satisfactory standards so that we could implement them into our resource calculation (Which we weren’t able to do with our original resource calculation).
“The need to re-assay came about because the 2006 data had not met the QA/QC requirements of management. The re-assay work was carried out by American Assay Laboratories (AAL) in Sparks Nevada, which is an independent ISO 17025 certifiable assay laboratory. A critical problem of the original assays related to another laboratory which used a sample aliquot (weight) of 0.5 gm of pulp out of a total original sample weight of 2-5 kgs for assays. This is typical for geochemical analyses, but it is more appropriate to use a larger aliquot for assay work to give better repeatability in check assays as was conducted by AAL”
The assays are from drill holes that were mainly outlining the Longshot Ridge copper oxide deposit or infilling gaps in the original drill pattern, and will be included in a revised resource estimate. Because they were infill & outlining holes the result is that we will be able to considerably increase the “approved” resource calculation, which is a big priority for us.
We have almost completed our full analysis of the data and calculated the weighted average of the samples so an announcement will be made shortly. We are looking to make a couple of announcements over the coming weeks. We have a very busy 2012 ahead of us and we are working at hitting the ground running here.
Talk soon,
Bob
I was doing the same thing a week or so ago. What I couldn't get at .12, I just raised it one cent and pretty much got what I wanted. Cherry picking is good late in the day, the last hour or so, on a Friday. Sometimes as late as the last 15 minutes, only on a fairly active day, when the price had dropped a bit. Today is a light day, so I would stick with .12. Scares people and some sell to avoid a larger loss. Their loss, your gain!
I hope that the new year brings us prosperity, a little good luck and a higher stock price for CNYC.
HAPPY NEW YEAR TO ALL!
As J Edgar Hoover would write on his personal mail to his associate, Clyde Tolson, "I Concur" H
He would always put the H at the end of his brief statement. I worked there for 30+ years, so I know!
Rig- I picked up 16000 shares in the past hour or so. 15500 of my shares were bought at .155 or .16. I needed the last 500 shares to have a round number, so I paid .18 for them. Didn't care about a few pennies. I feel like I'm in on an IPO at the start. Feeling good now. I got my average down a bit. I think this is a steal right now!
I just returned from a 12 day vacation in the Caribbean. This was recently received from CNYC's IR, in reply to a question I had asked about other larger companies being interested in CNYC:
"As to your question about larger companies:
Yes, now and over the past couple of years we have had preliminary discussions with a number of groups. And we do have one company that is currently doing its due diligence on the company (property visit, sample analysis, speaking with management etc)
We have definitely sparked the interest from some of the biggest companies in the world, but as you know until something is on paper it is only speculation.
We are working to make Canyon Copper a very valuable company, whether we progress towards production ourselves or we are introduced to a partner (of some sort) it is very difficult to say at this time. We will continue to add value to the company."
I agree. This isn't something that's done overnight. Patience will be rewarded! JMHO
You build it and they will come. Or if CNYC does what we expect, the good days are coming and soon, I hope!
They have the assay results, per Bob Meister, but this might not be the best time to release them and begin promoting CNYC. We shall see.
Tax selling season, plus the Holidays!
I would expect that larger companies are looking at CNYC right now. They have massive assets in the ground. Ripe for a very good buyout or partnership with a large company. We could get a $3 to $5 offer for what CNYC has right now. More later, after CNYC starts their new drilling project, and adds to their reserves of metals to be mined. JMHO
I got a 6000 shares at .15. I'm starting to bring my average price down a little. It's been around .30. Every little bit is good for me.
I would like to see the assay reports, but I would think most of the positive news will come after the tax selling season is over.
One thing that ticks me off is the usual 100 or 200 share trade just before the close to paint the share price.
I just got a full education about the importance of molybdenum. I had no idea of the value in our society of this mineral. Thanks to all for the education about this important metal.
Thanks, I'm still a big CNYC booster. Let's hope next year will be our year.
I agree with your statement. If CNYC gets moving we should be in a very good position.
Not negative waves, just telling the truth. I know you must feel the same way. Nothing I can do about how CNYC runs their business, but I can speak up as a stockholder and give my opinion.
The one big problem is that CNYC can't seem to get anything done on time.
Assay results that should have been out months ago, since it was older material being assayed, is still in limbo.
Will they ever start their own new drilling on their Nevada sites?
I bough more today to get a head start on making some money. This is really too good to let go. All the regulars here have been very helpful with all the information that they have gathered. Anyone who misses the boat on this stock is going to be very sorry later. I haven't even thought about selling CNYC at these low prices. This is a sure $3 to $4 stock in a year or so. I hope sooner.
My average price is above .30. Close to .35. This needs a big push for me to get even.
I expect the flow of PR's and other information to start on Monday. We shall see!
I don't think the company would issue anything during Thanksgiving week, with all the travel going on. I think that next week will finally be our week.
Hope all have a great Thanksgiving.
I received the information below from Bob Meister late yesterday. It was a reply to a question I had.
Robert Meister's Reply:
We are working on a number of opportunities that we feel will be significant to us and our shareholders.
This announcement: We do have a draft news release ready to go however (as stated) we are dealing with some minor issues with the exchange. Again as was stated we have had to adjust an agreement to appease the exchange… it’s annoying but when it comes to the exchange we have to be very diligent in keeping under their rules and regulations. The issue is nothing that they can say no to, it’s just a matter of structuring the agreement so that certain guidelines of the exchange are adhered to.
We have been working very hard to position Canyon Copper in the best place possible for success. We have been following our Corporate Objectives and are starting to make some significant developments:
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
· Establish a project pipeline of other significant Copper deposits
ALSO: Another news release we are about to release is the assay results.
Talk soon,
Bob
I also thought that a Press Release would be made today. Maybe tomorrow!
I hope we get some positive news from the company sometime in the near future. I was thinking that this might be the week that some of the promised news would show up. This stock won't go antwhere without information about what they are doing. It couldn't go down much more or it would vanish. I guess that patience is required with CNYC.
I can smell $1.00 by the end of December. I hope my smeller is right.
Let's hope the Sleeping Giant comes out of his slumber this week. Not expecting much, but hoping for the best. Good Luck to all.
Only time will tell, but there are some very good mining people behind this company and they have a lot of their own money invested in it. JMHO
Any really good news and I think this could fly. I hope next week is our good week.
Someone must be after a Guinness Record.
I'm still on board. Not going to give away my CNYC stock. Been holding it too long to give up this near the promised land. Good work by all the loyal stockholders on this board. I'm getting ready for our coming out party in Nevada in the Spring, if not sooner!
Good work keeping us advised about the progress of CNYC. If you weren't here, we would all be a little less informed. Looks like you helped to move the stock price up a little, also. THANKS!
Same for most of the metals. They will come back up. Copper is still in demand.
When CNYC's stock moves, it could soar. Didn't know the float was so low. It appears that most CNYC stockholders, like us, are holding. I'm not giving mine away. I can wait. Good job!
Message below just received from Investor Relations at CNYC. Looks like we are getting close to some real action with CNYC, I hope. It appears that Canyon pretty much knows what the assay results will be. A good deal of copper and other minerals, I would think. JMHO:
From: rmeister@canyoncc.com
To:
Sent: 9/27/2011 12:06:20 P.M. Eastern Daylight Time
Subj: RE: CNYC
Hello John,
Sorry about not hearing from me/us in a while but in these crazy markets I’m thinking that’s not a bad thing.
With that being said though, we have not received the assay results back from the lab yet. We had originally hoped on getting the results back last week but I guess it’s taking longer than anticipated. We are pretty positive about what the anticipated results though. After the results are in we have a number of news releases that will follow… some corporate news and some geology news… we are looking to get quite aggressive in these markets on numerous fronts!
It is always a difficult thing when you see a stock “flounder” around and look like they are not doing anything… I can guarantee you that we have a definite plan and goal for Canyon Copper and we will be aggressively moving forward with plans of becoming a producing company.
Take care.
Talk soon,
Bob
Looks like someone knew something and was taking advantage of the chance to pick up some cheap shares. Looking for a good assay report, but the real test will be after they do some drilling themselves and get that material assayed. Looking for better times!
That's the beauty of CNYC. It's controlled mostly by insiders, who wouldn't be likely to sell for a quick profit. Not a lot of "daytraders" would be involved in a company like this.
I think that this is still a little known company. When the word gets out to all, it should be a gusher, using an oil term! "Bonanza" would be a more likely term to describe CNYC.
I do believe you might be right. May be a bit conservative. I'm thinking it could hit $4.00 or more, later this year. When it takes off it should move fast. The patient investors here should reap the rewards. See you in Nevada for the stockholder's party!
Info about CNYC or CNC on TSX:
This just out on a list of "Stock Catalysts":
September 2011 Stock Catalysts
Mon, Sep 12, 2011
Resource Stock Catalyst
Post by Jody Bartley, Resource jody
Savvy investors, brokers, and institutional investors try to identify future news items or “Catalysts” that address significant company milestones. Identifying and anticipating these news items can greatly influence an investor’s success.
Following are significant upcoming news catalysts that are expected in the next 30 days which have the potential to move the listed companies stock. These stock catalysts are a reminder of already publicly released plans.
Canyon Copper (TSXV:CNC)Canyon Copper’s is in the midst of its Phase One exploration program on its New York Canyon project, in Nevada. The program involves the re-assay of 1,440 drill samples from its 1996 drill program in order to verify copper values. The results will be used to update the Longshot ridge resource estimate. The current indicated resource contains 16.25 million tons averaging 0.43% copper, and an inferred resource of 2.9 million tons averaging 0.31% copper, using a cut-off grade of 0.2% copper
This just out on a list of "Stock Catalysts":
September 2011 Stock Catalysts
Mon, Sep 12, 2011
Resource Stock Catalyst
Post by Jody Bartley, Resource jody
Savvy investors, brokers, and institutional investors try to identify future news items or “Catalysts” that address significant company milestones. Identifying and anticipating these news items can greatly influence an investor’s success.
Following are significant upcoming news catalysts that are expected in the next 30 days which have the potential to move the listed companies stock. These stock catalysts are a reminder of already publicly released plans.
Canyon Copper (TSXV:CNC)Canyon Copper’s is in the midst of its Phase One exploration program on its New York Canyon project, in Nevada. The program involves the re-assay of 1,440 drill samples from its 1996 drill program in order to verify copper values. The results will be used to update the Longshot ridge resource estimate. The current indicated resource contains 16.25 million tons averaging 0.43% copper, and an inferred resource of 2.9 million tons averaging 0.31% copper, using a cut-off grade of 0.2% copper