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This blew right by me. Notice that insiders got a big bundle of the now cheap shares. Why not us? I did see that the private placement shares have a hold period until June 25, 2014, about 4 months. If a run starts, we can possibly get some of our money back by selling before any of the cheap shares can trade.:
# Mon Feb 24, 2014
Canyon Closes $400,000 Private Placement
--------------------------------------------------------------------------------
Canyon Copper Corp. ("Canyon") (TSX-V: CNC) is pleased to announce that it has closed its private placement financing previously announced on February 5, 2014 by issuing a total of 8,000,000 units ("Units") for gross proceeds of $400,000. Each Unit consists of one common share of Canyon (each, a "Share") and one non-transferable share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one additional Share at a price of $0.05 per Share for a period of three years following the date of issuance.
In connection with the proceeds raised under the private placement financing, Canyon paid finders cash commissions totaling $7,200.
Canyon's directors and officers subscribed for a total of 2,640,000 Units under the financing. Of the Units subscribed for by insiders, Mr. Ainsworth, Chief Executive Officer, President and a director of Canyon, subscribed for 1,800,000 Units, Mr. Bordian, Chief Financial Officer of Canyon, subscribed for 490,000 Units, Mr. Kerr, a director of Canyon, subscribed for 100,000 Units and Mr. Yates, a director of Canyon, subscribed for 250,000 Units. As a result, the issuance of Units to these insiders is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Canyon is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101.
The securities issued under the financing will be subject to a hold period expiring on June 25, 2014 pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.
The proceeds of the financing will be used for exploration of its mineral properties and general working capital purposes.
On behalf of the Board of Directors,
"Benjamin Ainsworth"
CANYON COPPER CORP.
Benjamin Ainsworth, CEO and President
What happened today. I was shocked to see today's close. About 25 cents a share. Somebody might be working it to help them sell their private placement. Low volume! Can't wait until tomorrow!
I just found this jewel, which Canyon Copper released a few minutes ago. Check the Pacific time at the bottom:
CANYON COPPER CORP. : http://www.canyoncc.com/ : News Releases
# Wed Feb 5, 2014
Canyon Announces Proposed Private Placement Offering
--------------------------------------------------------------------------------
Canyon Copper Corp. ("Canyon") (TSX-V: CNC) is pleased to announce that its board of directors have approved a proposed private placement offering of up to 8,000,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of $400,000 (the "Offering"). Each Unit will consist of one common share of Canyon (each, a "Share") and one non-transferable share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one additional Share at a price of $0.05 per Share for a period of three years following the closing date of the Offering.
Subject to TSX Venture Exchange approval, Canyon may pay finders a fee consisting of either cash and/or share purchase warrants.
The proceeds of the Offering will be used for exploration of its mineral properties and general working capital purposes.
Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
On behalf of the Board of Directors,
"Benjamin Ainsworth"
CANYON COPPER CORP.
Benjamin Ainsworth, CEO and President
Contact:
Canyon Copper Corp.
Investor Relations
1-888-331-9326
(604) 331-9326
(604) 684-9365 (FAX)
info@canyoncc.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Canyon cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Canyon's control. Such factors include, among other things, risks and uncertainties relating to the fact that there is assurance that the private placement will be completed in its entirety or if at all. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Canyon undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Copyright © 2014 by Canyon Copper Corp. All rights reserved worldwide.
For more information, send questions and comments to info@canyoncc.com
This page was created on Fri Feb 14, 2014 at 1:49:32 PM Pacific Time.
CNYCD doubled in price today on a 13 share trading day. Wow!
I'm hoping that CNYCD will surprise us this year.
Makes doing my taxes for 2013 easy. No big write off and no big gains.
My Etrade only has a bunch of numbers for the stock's symbol. No quotes yet, that I have seen. The quote here is based on 12 shares!
Who, in their right mind, would buy or sell 1 share, or 7 shares, of a 4 cent stock?
Got this from Bob Meister on Friday. I just wanted to know if any trading of the new split shares had started:
From: rmeister@canyoncc.com
To: JNCOOK
Sent: 1/24/2014 5:03:17 P.M. Eastern Standard Time
Subj: RE: CNYCD
Hello John,
There haven't been any trades on Canyon Copper on either of the exchanges since the conversion became effective. I do expect that to change once things have all been cleared with brokerage houses.
Exchanges: CNYCD is showing $0.16 with no trades. CNC: is showing a bid at $0.055 and an offer at $0.94 (yes 94 cents), again this will all change very quickly once there is more action/trading.
Have a great weekend.
Bob
Below is from the Pink Sheet OTC Quotes, whatever that means:
CNYCD Canyon Copper Corp.
OTC Pink Current Logo Ordinary Shares OTC Pink
Current Information
0.14250.00 (0.00%)
Real-Time Best Bid & Ask
No Inside Bid/OfferPrevious Close
0.1425
52wk Range
0.121- 0.004Volume
Last Best Bid & Ask Update 17:00:02 EST
The TSX Exchange has the most recent quote below. If it has ever traded, it closed at .075 per share. No trading today in Canada:
Canyon Copper Corp. (CNC)
Exchange: TSX Venture Exchange
$ 0.075
Jan 24, 2014, 4:27 PM EST
Change: 0.00 (0.00%)
Volume: 0
I don't see any trades on ETRADE, but the CNYCD chart there shows it's value at 14 cents a share. Where that came from, I have no idea.
Wonder what stage CNYCF is aiming for!
Stages of Copper Mining
The first stage in copper mining is distinguishing between ore and overburden. Ore is defined as material that can be economically mined; whereas overburden (often referred to as waste) is non-economic material overlaying or intermixed with the ore. All material is first drilled and blasted and the ore is taken to a concentrator for processing. At the concentrator, the ore is crushed and then ground to the consistency of ladies’ face powder. Following the grinding circuit, the ore (now a slurry) is sent to flotation. In the flotation section, the ore and compressed air are introduced at the bottom of large tanks and combined with reagents (mostly soaps and pine oils). These reagents have an affinity for copper and when combined with the compressed air create a froth of bubbles. The copper (and other metals) sticks to the bubbles and ‘floats’ to the surface and is skimmed off. The next step involves a mechanical thickener which separates the water from the skimmed bubbles (ore). The water then re-circulates into the grinding sections and the bubbles (now called concentrate) are sent to a filter plant where more water is removed and recycled. This step is repeated to recover as much copper as possible. The final stage is delivering waste material, called tailings, to a lined storage facility. Here, more water is reclaimed and cycled back to the milling process. The concentrate is then shipped to either a smelter or refinery for further processing.
Where Copper is Found
Copper is found naturally throughout the world in the Earth’s crust. It is most commonly found in deposits with other metals such as nickel, zinc, gold, silver and molybdenum. The largest amounts of low-grade copper-bearing material are found in porphyry copper deposits. Most copper is mined or extracted as either copper sulfides or oxides from large open pit mines in porphyry copper deposits that contain 0.4 to 1.0% copper. Examples include Chuquicamata in Chile, Bingham Canyon Mine in Utah, and the Phelps Dodge Morenci mine in Arizona.
Copper
Copper is a metal that can be readily stretched, molded and shaped. It is resistant to corrosion and has a very high thermal and electrical conductivity. It is also one of only a few metals that have these properties and occurs abundantly in nature. The metal and its alloys have been in use for over 10,000 years. Copper can be found as either native copper or as part of minerals such as chalcopyrite and chalcocite (copper sulfides), azurite and malachite (copper carbonates) and cuprite (copper oxide).
He's been laid up with consumption the past few weeks. Laid a lot of Civil War soldiers down about 150 years ago!
When he gets back on his feet, who knows what will happen?
I would think that if Canyon Copper needs funding, they could borrow from themselves using some of management's profits from the Alpha Minerals bonanza!
Management used our money to provide Alpha with an office, office workers, phones, travel expenses, management personnel, geologists and who knows what else. All Canyon Copper work was put on hold for over a year. We are due something!
I just checked my email and earlier today, I received the message below from Bob Meister. The vote to split the stock was approved. So, we should see what happens now! Bob's email is below:
From: rmeister@canyoncc.com
To: JNCOOK
Sent: 1/6/2014 12:41:58 P.M. Eastern Standard Time
Subj: RE: CNYCF Stock Split.
Hello John,
Happy New Year.
I hope you are doing well. I have actually been out of the office sick for the last while.
As for Canyon Copper: Yes, you are correct, The vote was approved and we will be making that announcement this week.
All the best to you and your family in 2014.
Bob
Has anyone heard how the reverse split vote went yesterday? I can't find any mention on the Internet. I even tried to call Bob Meister on their toll free line a few minutes ago, but a recording said he was out of the office. When I call on the regular phone line, where I pay, I usually get right through.
Below is Bob Meister's reply to my email to him concerning the stock split. I have been busy with Christmas stuff and didn't notice his reply until this morning. I had told him that I guess the stock split was the only option left. Not being on the inside, I had no idea what their options were, but I knew that this would get a reply:
From: rmeister@canyoncc.com
To: JNCOOK37
Sent: 12/20/2013 4:47:57 P.M. Eastern Standard Time
Subj: RE: Stock Split
Thanks John,
I agree it's a tough pill to swallow, however you are right, we need to do something to survive and this will allow us that opportunity. We are looking at some very interesting opportunites. So hopefully 2014 will be a successful one for Canyon Copper.
Happy Holidays to you and your family.
Cheers,
Bob
I heard that some of the stockholders from Cook County, IL, were going just to insure an honest count.
You are correct!
So, Canyon Copper paid for the office rent and expenses, management fees. We paid the expenses of operating an office for Alpha, in other words. What did we get from Alpha in return? Nothing, except our stock value fell to sub penny.
The entire Copper Canyon Management team and other employees all started working out of the CNYCF offices in Vancouver and began working there and in the field for Alpha. I think Alpha owes us. Our stock went down as it was put aside for a year or so while everyone at CNYCF started doing Alpha's work.
Since both companies (Alpha Minerals and Canyon Copper) have the same management, they should work out a joint venture or buyout, if that is legal in Canada. I know uranium is not on the board now, but Alpha has money and stock in the company that bought their uranium portion of the company. At our expense!
All of the off shore investment companies would probably vote with management, with Ben's reputation for turning a company around. But, who knows? Not me. I don't like the way this company was ignored, but Alpha had a very fortunate find. This should be interesting.
I have been critical of management in the past for ignoring CNYCF. I just hope for the best for all CNYCF stockholders. Myself included.
It's a done deal since management has control of most of the outstanding stock. Without a reverse, they are dead.
I would think that CNYC's Management would get into action after the split. What else do they have to do now that Alpha is a done deal? I would think that management would be in a position to start buying the split stock to drive the price up. The higher they can get CNYCF's stock price up to, they will be able to raise more money with a secondary stock offering to raise money to proceed with their original projects.
Bob Meister said that the Alpha business was what he had been working on until recently. With Alpha out of the way, they can, if they will, concentrate on CNYCF. I would expect the 1 for 15 stock to start trading about 15 cents or better. Then they can disclose details about any offers they have received in the past year or so. Joint Ventures, buyouts, etc. I think they can do the same type of deal that worked at Alpha. Not that they have a massive uranium find, but they surely have something of value that someone wants. We shall see!
I see some action today for CNYCF, all around .01, except the last 100,000 share trade at .08. Most action in a little while. Either some interest in the company or tax sales. Most of the action was a little after 2 PM EST.
Anything happening today in regards to the split?
CNYCF TRADING OTC:
14:07:02 0.008 100000 OTO
14:06:58 0.01 79104 OTO
14:03:23 0.012 3000 OTO
14:03:01 0.0097 10000 OTO
14:02:54 0.0097 10896 OTO
11:36:10 0.0097 30000 OTO
I received this last Friday evening from Bob, but due to my wife's Christmas shopping season, I just got back into my email today. Here is Bob Meister's reply to me, the entire version, except my email address:
From: rmeister@canyoncc.com
To: JNCOOK
Sent: 12/6/2013 4:50:06 P.M. Eastern Standard Time
Subj: RE: Check out Canyon Copper Corp (CNYCF): There's no time like the present, here
Hello john,
Thank you for your emails. I have been out of town for the last while for meetings and conferences for Alpha Minerals. The acquisition of Alpha has just been completed so we had a number of things to sort out before the deal could close.
We were in beautiful Saskatoon Saskatchewan where it was -32 C (approx -25 F)! A little too cold for my liking!
We are all looking forward for things to progress for Canyon Copper now. It was a difficult decision to make (by our Board, as I only found out the day before it was announced) but I do think it will ultimately be a good plan for Canyon in moving forward. We have had numerous opportunities thrown at us, but as usual it's sorting out the best one for the longevity of the company and its shareholders.
All the best to you and your family! Happy holidays.
Talk soon,
Bob
Why today and not the past few weeks or months? Tax loss sellng doesn't explain today's timing!
You might be right, but now that the Alpha issue is settled, maybe our company officials can turn their attention back to CNYCF. They did well with Alpha and came out with a good deal of money and stock, plus all the non uranium assets of the old company. Better for us that they did well rather than failed badly and lost a lot of assets. Just thought it was of interest to CNYC stockholders. It doesn't make us rich, but it is not exactly bad news! The wording doesn't matter!
Our shares are up 25% today, at around 3:30 PM EST. Let's see how it plays out. A much larger number of shares of CNYCF traded today. Much larger than usual, I should have said!
A portion of the recent Press Release from Alpha Minerals, Very interesting.
"Read the 2nd paragraph below, very carefully. It could include "Canyon Copper" in some way. Isn't the current Management of Alpha the same people that also manage CNYCF?" Notice the mention of Joint Venture.
The Arrangement is subject to final approval by the TSX Venture Exchange (the "TSX-V"). Completion of the Arrangement is expected to occur on December 6, 2013. The Alpha shares will commence trading on the TSX-V on an "ex-distribution" basis at the open of market on December 3, 2013, as of which date purchasers of Alpha shares will no longer have an attaching right to receive AEX Shares in accordance with the Arrangement. Upon completion of the Arrangement, all of shares of Alpha shall be owned by Fission, and Alpha shares will be de-listed from trading on the TSX-V.
Under the Arrangement, Alpha Exploration Inc. ("AEX") will be spun out and shall receive Alpha Minerals assets, other than its joint venture interest in the PLS property, and approximately $3,000,000 in cash. The current directors and officers of Alpha will substantially form the board and management of AEX, and will guide the exploration and development of the inherited portfolio of mineral properties located in Ontario (Mikwam), Saskatchewan (Hook, Cluff Lake-ACME, Cluff Lake-Logan, and Cluff Lake-Rio Tinto) and British Columbia (Donna), in conjunction with reviewing new opportunities under the normal course of business, whether by staking, acquisition or joint venture.
An application for listing of the AEX Shares on TSX-V has been filed, however listing is subject to final TSX-V acceptance.
Additional information regarding the terms of the Arrangement are set out in the Circular, which is available under Alpha's profile at www.sedar.com.
About Alpha Minerals Inc.
Alpha Minerals Inc. is a mineral exploration company whose principal focus is the exploration and development of uranium properties in Athabasca Basin in northern Saskatchewan, Canada. Common Shares are listed on the TSX Venture Exchange under the symbol "AMW".
Additional information about Alpha is available on Alpha's website at www.alphaminerals.ca or under its profile on SEDAR at www.sedar.com.
On behalf of the Board of Directors of Alpha Minerals Inc.
Ben Ainsworth, President, CEO and Director
Read more at http://www.stockhouse.com/news/press-releases/2013/12/02/alpha-minerals-receives-court-approval-plan-of-arrangement-including-the-spin#LQoCDJyWKah1r8ST.99
And since I talked to or emailed Bob weekly, he never once mentioned Alpha to me unless I asked. No heads up. I exchanged a large number of messages with Bob, and he never once gave told me anything about Alpha unless I asked. Then he didn't tell me much. I got my information by watching Alpha's stock price go up!
Later Bob told me the whole story about Alpha. It appears that Ben Ainsworth had thought for a number of years that the property where Alpha was looking for minerals might have a vast uranium deposit. He sent his son, a geologist, to explore the property. With limited funding, his son found the mother lode of uranium. Ben sent him there and told him what to look for. His son did what he was told and it worked out.
I'm sure that everyone at CNYCF knew about the project. Bob helped a reporter write a story about the bonanza.
Several years ago, Bob told me that Esouranium, later Alpha Minerals, was too risky to buy. I had received an email from Bob using the ESOURANIUM email site. I inquired about the company. He told me not to buy it at the low price then. They were going through a Reverse Split.
Thanks Bob!
Good find! CNYCF should not be a dead company. Management should have a lot of money from their other company, Alpha. I haven't been folling it recently.
I just sent an email to Bob asking a question about another company. Sometimes I'll get a small tid-bit of information, if he replies. I'll let you know. This company has to be worth more than the current price!
Closed at 2 cents today. I'm shocked that anyone would pay that much for nothing. Just my 2 cents worth.
Sometimes I wonder if CNYCF's management even remembers Canyon Copper still exists. Their main interest is on AMW and the uranium they are finding.
They need to sell Canyon to someone who will make some moves. For God's sake, Do Something Guys!
It was like an office agreement with the guy who sits next to you. And they don't know what the other guy is doing.
They deserve that wonderful salute you sent them. Great job!
They should build a big resort and Casino on the Nevada site. Have a nice lodge where hunters can come and hunt bear and rattlesnakes.
You hit the nail on the head. Not one reply from Bob in about a month. Maybe he's joining Snowden in Moscow to study Russian culture. Or gone to look for uranium in the Outback in Australia. He's not on the radar at this time.
Kind of like a big "Back To School" Sale.