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Bob Meister, IR man at CNYC, and possibly other officers of the company, went to Toronto this week to speak to the "Who's who of the resource industry and financial sector."
He told me that,
"We are working on a couple of very interesting scenarios to add value to CNYC that could be very interesting."
I think the time has come for CNYC to make their long awaited move.
Below is also from a recent email I received from Bob. The quote I sent Bob was from Margaret Thatcher, Former UK Prime Minister, "Socialism is great until you run out of someone else's money.":
We are talking with a number of groups that each have specific abilities that would assist in the growth of Canyon Copper. How this all transpires is anyone’s guess ,but we are having very fruitful discussions about the different possibilities. These groups are of the mid-tier market size but with production in place or in preparation stages that bring a wealth of ability, reputation and professionalism. I will keep you posted as best I can.
The election: well I couldn’t have said it better myself. I just told your quote to Ben Ainsworth (president) who is a Brit agree’s with you full heartedly. Haha
Talk soon.
Bob
Info from and email I received from Bob earlier in November:
Thanks, good to hear from you. Things are definitely heating up here. Some very interesting prospects coming up for Canyon Copper.
Talk soon,
Bob
The meat of a Thanksgiving email I received from Bob in Vancouver. I had been told earlier that CNYC is working with several mid level Resource Companies.:
"I am off to Toronto next week to speak to, pretty much the who’s who of the resource industry and financial sector.
We are working on a couple of very interesting scenarios to add value to CNYC that could be very interesting."
It appers that CNYC is close to starting "something" with some well heeled, mid-tier market groups, with operations ready to roll. CNYC is deciding which way to go, is best for them. Probably, as I read it, at least two mid-tier groups, with ample funding, are ready to join forces with CNYC, not each other. I had to read between the lines to get this information. If correct, our long wait might be over. Looking Good!
I agree. I think that a JV is the only path available to CNYC, after the meltdown. If a large company would make a decent buyout offer, they could go that way. But, I don't see a decent buyout offer coming for a 6 cent stock. I hope I'm wrong!
I've heard that they are looking for a major joint venture partner. Talking now.
A few small companies want in, but they are too small to help. Got this from a fellow in Vancouver who follows the company. CNYC won't say much.
That's usually my luck, a real odd number just out of my offer range!
I did get 7100 shares today at 5 cents a share. Tried to get more, but they raised the bid/ask price. I can wait. Doesn't look like anyone else is chasing it.
Looks like some MM bought a few shares at 6 cents a share. a big deal.
Has CNYC hit bottom yet? It can't go much lower.
Well, I guess it could if someone starts dumping their shares. I think a lot of buying would kick in at 3 cents a share!
Probably going to be very short. Just Saying, "Nothing New".
I'm glad that this company is traded in Canada, also. I'm not sure the US dollar will be worth much in the not too distant future. The USA is headed toward being broke. Might be there now!
I agree. They don't want to blow the funds they now have. I think they are going about the process they way they should. The copper could be easy to leach out, but the gold and silver is worth more. Looks like they are cautious about spending the money foolishly.
I just hope they (Management) are all alive by the time they get ready to make a decision! Some of the top fellows in the company aren't very young.
The information below was received a few days ago from CNYC's PR man, Bob Meister. I deleted the first portion of his email about his new family member, born a few weeks ago. As usual, he was very courteous and furnished a few tidbits.:
Hi John,
"I’m still easing back to work but pretty much back to normal now.
The previous news is good. It gives the New York Canyon property an extra luster with the existence of gold and silver. Our new-ish Advisory Board Member, John Kerr, who is very knowledgeable about the area and discovered the Santa Fe Gold Mine which connects to the north boundary of our property has strong beliefs that the geological environment is similar at New York Canyon as to the Santa Fe deposit… and these last sample results backs his theory up. We currently have a geologist at the property now doing more ground work, sampling, mapping , etc which we hope will assist us in outlining new targets on the property.
I’ll try to get some updated information out of Ben Ainsworth and get back to you.
Keep in touch.
Talk soon,
Bob"
Perhaps CNYC can get Obama to create some mining jobs in Nevada and California. Should have been in the Dems Platform!
Gold Silver Values Returned From New York Canyon Sampling
(Just got back from a trip north, didn't see this here) From The Sacramento Bee, last week!
By Canyon Copper Corp.
Published: Monday, Aug. 20, 2012 - 7:06 am
VANCOUVER, Aug. 20, 2012 -- TSXV: CNC OTCBB: CNYC
VANCOUVER, Aug. 20, 2012 /PRNewswire/ - Canyon Copper Corp. ("Canyon" "Company") (TSXV: CNC) (OTCBB: CNYC) has carried out a preliminary rock sampling program on copper skarn mineralization located on its New York Canyon Property, Mineral County Nevada (1293 claims with an area of approximately 66.000 hectares or 26,000 acres).
• Significant gold and silver assays were returned from rock samples over 3 km belt of of skarn deposits.
• Copper skarn belt includes Copper Queen-Ideal Mine, Champion Mines, Longshot Ridge Resource Area, and the New York Canyon Basin.
• Gold grades up to 0.5 g/t and silver grades up to 74 g/t (approximately 2 oz/st).
• Copper assays indicate better than expected metal recoveries into solution from single acid (H2SO4) leach (acid consumption not defined by assay method)..
Analytical Results.
32 samples were collected from dumps, surface and underground workings at all of the most significant copper showings in the skarn belt. Except for the Longshot Ridge, much of the belt has not been drilled at a spacing suitable for testing this type of mineralization. The target is a higher grade and lower tonnage mineralization compared to the porphyry style target of Conoco, Phelps Dodge and other earlier workers. Chalcocite and bornite skarn mineralization associated with some oxide copper can offer potential as a feed for a copper leach operation which could produce premium cathode metal with a solvent extraction copper electro-winning plant..
The purpose of the sampling was to determine if any precious metals were present in the skarn mineralization and also to type the pathfinder elements associated with the copper or precious metals. The table below indicates metal associations in samples with possible economic grade copper mineralization in 16 (50%) of the samples.
Sample #
Type
Cu Total
Acid Sol.*
Gold
Silver
%
%
g/t
g/t
Copper Queen
CQ
Grab
0.80
83.8
0.22
9.3
CQ-2
Grab
0.34
73.5
0.16
11.8
Champion Mines Area
CH-6
Horizontal 2 m
2.64
81.4
0.37
28.1
CH-7
Horizontal 1.5 m
1.77
24.0
0.54
40.2
CH-8
Horizontal 3.5 m
1.18
81.4
0.19
17.0
CH-9
Grab from Floor
1.70
84.7
0.19
15.4
CH-10
Pediment Outcrop Grab
1.73
85.6
0.27
13.2
Longshot Ridge
LS-3
Horizontal 2.5 m
1.29
89.2
0.10
1.5
M-1
Dump Grab
1.47
86.4
0.29
11.8
M-2
Vertical 2 m
0.33
70.0
0.01
0.5
.
NY Canyon Basin
NYC-2
Horizontal 2 m
1.24
77.4
0.08
6.6
NYC-3
Grab
1.64
81.3
0.14
21.6
NYC-4
Grab
2.93
80.9
0.11
57.9
NYC-5
Grab
3.65
83.6
0.08
28.6
NYC-V1
Grab
1.50
62.0
0.05
60.8
NYC-V2
Grab
0.41
65.5
0.01
4.1
NYC-V3
Grab
2.75
85.8
0.01
74.5
NYC-T1
Grab
2.03
78.3
0.03
19.7
ACID SOL* The Cu total grade was measured from a sample digested with a strong four acid attack. The calculation of the acid soluble component is made by dividing the total copper value into the copper value of a one acid sulfuric acid digestion of that sample and multiplying by 100 to convert to a percentage for the copper recovered from the sample by the one acid attack. This analysis is carried out because it gives a guide to the metal recovery that may be achieved in a leach plant.
The results above indicate that the better silver results appear to occur on the east end of the skarn system in the New York Canyon Basin. The better gold values appear to be related to the Champion mines area in the central part of the skarn system and possibly at lower original elevation or closer to any potential copper porphyry metal sources.
Upcoming programs for Canyon Copper:
Proposed Drill Program to start after further Metallurgical Work on Moonlight Property
CNC had announced that it was 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 in a manner compliant with NI 43-101 regulations. The basic permitting process has been started.
A review of earlier drilling results indicates potential for mixed oxide, native copper and acid leachable sulphides in zones related to higher grade structures mineralized by late stage mineralization. These zones lie beneath the oxide zone defined by earlier studies of the oxide cap at Moonlight (see News Release 25th March 2012) and could extend the leachable mineralization to depth.. Further metallurgical work and evaluation of the late stage mineralization will be undertaken to guide the drill program. Sample material from earlier core drilling is available for this work and includes mineralized drill sections which have been well stored in nearby facilities. Samples from this storage facility have also been sent for assay for precious metals in several drill sections that were only assayed for copper.
Property Scale Geochemical Program on New York Canyon Claims
CNC has started a geochemical program to cover the considerable area of the New York Canyon claims with a survey of arroyo/stream sediments. The purpose of the survey is to assess the potential for areas of mineralization that may be associated with the several areas of old prospects and workings within the claims. Gold and silver indications reported above are associated with some moderately anomalous path finder elements such as arsenic, bismuth and antimony. Analysis of such pathfinders will be included in order to outline areas with gold potential. The former Santa Fe gold producer is located on the north boundary of the NYC claim block and reportedly was first investigated as a base metal showing.
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
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 Canyon's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, Canyon's ability to implement its proposed drill programs on the Moonlight Property and the New York Canyon Project, Canyon's ability to obtain additional financing, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of Canyon 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 may use the terms "measured", "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 measures. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable.
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.
SOURCE Canyon Copper Corp.
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Read more here: http://www.sacbee.com/2012/08/20/4741099/gold-silver-values-returned-from.html#storylink=cpy
I would welcome a reverse split. They won't get additional investors at the current price. I can live with a reverse, better than not doing anything.
For me to average down to a good price, CNYC would have to get below 0. I'll wait for that, since it's headed that way. I'd like to see -.05. That would be a good point for me to average down from.
Got this today from Bob Meister:
From: rmeister@canyoncc.com
Sent: 7/16/2012 12:55:37 P.M. Eastern Daylight Time
Subj: RE: CNYC
Hello John,
Sorry for my delays in getting back to you I was out of the office last week.
I hope you are doing well and enjoying your summer.
Ha, no we haven’t closed up shop here at Canyon Copper. I have a meeting with Ben Ainsworth later on this afternoon and a couple of the other managers to get everyone up to speed on the latest news. I do know that Ben is(or has) composing a news release that updates our shareholders also.
We are progressing forward and are still working towards a drill program this summer but we are still awaiting permitting. I will update you more later when I have had the full update from Ben et all.
Talk soon.
Bob
I wonder if the company has interest from Chinese investors to buy stock or buy the company. Interesting!
Looks like the only thing we're closer to is summer!
CNYC jumped 20% today on a late trade of 100 shares.
They might have plans to build a resort there!
Gold Report information from Dr. Michael Berry, Federal Reserve Board expert, released yesterday. He has testified twice a year before the Fed, as a gold, silver, copper, etc. expert:
"If this is a bottom, Dr. Michael Berry sees it as the ideal time to pick up bargains in the mining sector. In this exclusive interview with The Gold Report, the Federal Reserve Board expert gives his diagnosis for what ails the markets and names the companies from Alaska to Brazil that could survive the financial plague wiping out equities all over the world.
The Gold Report: The Gold/Philadelphia Gold and Silver Index (XAU) ratio recently surpassed its high in 2008, slightly crossing 11 and peaked in the high 10s at the bottom in 2008. Do you think we have put in a bottom?
Michael Berry: If I were 100% sure, I would be a very wealthy person. I think we’re close to a bottom here. Gold is too important. The long-term secular bull markets, such as we’ve seen in gold and silver and in fact in many of the metals, do not end this way. They end with a parabolic move upward. That is why I don’t think this is the end of the gold bull market at all. I think it’s probably a welcome reprieve. But ultimately, if we are not at the bottom, we’re fairly close to it.
TGR: You testify to the Federal Reserve Board twice a year. In the last meeting, was there any indication of more easing on the way?
MB: There is every indication of more easing; there is every necessity of more easing. But the Fed is divided. Some of the Federal Reserve Bank presidents and governors believe we should tighten, while others have followed the Bernanke line, pushing easing. I cannot even imagine how we could raise rates in this market. I’m not saying that we don’t have food price inflation, but the Fed really wants to inflate out of this problem. So I think we’ll have more easing. But for now, the Federal Open Market Committee is divided between hawks and doves in a way it has never been in the past. It is going to be very interesting to see what happens as we move forward.
TGR: Many of your preferred companies have significant byproducts, primarily copper. Is this because you think copper has a bright future or because having significant byproducts tends to lower cash costs for gold and silver miners?
MB: I think it’s the former. If we are going to go into an irrecoverable economic depression, then there’s no future for copper. But I’m an optimist, and even though these are very difficult days for global growth, I think companies that own copper deposits are going to be very valuable when we exit this down period.
Therefore, I like copper—not necessarily as a byproduct, but as a major primary product. And if you look around the world right now, many countries are nationalizing their copper deposits. Good copper deposits are hard to come by. Copper is clearly an indicator of global economic health, and we are going to continue to grow again. It’s just going to take some time, perhaps a long time."
The information below is also from yesterday's Gold Report by Michael Berry. It looks tough everywhere right now, but better times are ahead, I hope:
"I don’t think catalysts matter today because right now the Toronto Stock Exchange Venture Exchange is off approximately 50%. This isn’t just a bear market, it is a disaster for these exploration stocks. All of these stocks have been taken out and shot, metaphorically. I am not sure such catalysts are going to do much until we unwind the sovereign debt problems. Companies are just learning how to survive through this."
This is from the Gold Report today. Most of this report is about gold stocks, but read what Michael Berry says about copper.
MB: I think it’s the former. If we are going to go into an irrecoverable economic depression, then there’s no future for copper. But I’m an optimist, and even though these are very difficult days for global growth, I think companies that own copper deposits are going to be very valuable when we exit this down period.
Therefore, I like copper—not necessarily as a byproduct, but as a major primary product. And if you look around the world right now, many countries are nationalizing their copper deposits. Good copper deposits are hard to come by. Copper is clearly an indicator of global economic health, and we are going to continue to grow again. It’s just going to take some time, perhaps a long time.
I'm leaving Friday for a short vacation in the mountains of WV, VA and MD. Since I live in Florida, the beach is getting old. My wife has relatives in VA and we will go with them to a few Civil War battle sites.
There is a small town in WV, called Union, that hasn't changed in the past 100 years. Near the VA line. Last year we talked to a University of Minn grad student, from Iowa, who spent the summer organizing their old Indian artifacts, arrow heads, etc. for the local museum. He was not happy about the Confederate Civil War encampment in Union, since he had to give a speech, on the last day of the encampment, about the Confederate States in the Civil War. Being from Iowa, he was clueless and was reading some Civil War material, so he would not appear out of touch. It was fun!
I hope all will have a nice summer and keep cool.
My wife was recovering from some minor surgery last week and I didn't get to post this email I received from Bob at CNYC. Looks like John Kerr thinks there is gold on the CNYC properties, as well as copper, etc.
I'm shocked by the current giveaway price of CNYC's shares. Until some numbers come in, I guess that we are stuck with the low price. Notice how low the trading volume is. No big rush for anyone to sell.
I got some of the same info from a good friend that writes about resource stocks:
"I just received some pictures and information from our Geologists in the field and they are very happy with the properties and replied with comments like:
“Being on site and noting all the copper oxides brings back the excitement of the property...”
Also, one of our new Advisory Board members visited the New York Canyon property recently also (John Kerr who discovered the Sante Fe Gold Mine, on the north edge of the property) and commented this:
“The one impression that was left in my mind was the similarity of geology to the Santa Fe area. Although I wasn't near the Bullfrog or Power Line prospects, I would think this geology is identical to Santa Fe. The strike of Santa Fe aligns itself to the Power Line showing area. I would definitely be looking for potential Santa Fe types of deposits in this northern area. Santa Fe was originally a base metal mine.”
We are VERY encouraged about the possibilities for both projects and with a newly regrouped outlook and excitement after having boots on the property we are very much looking forward to commence work and moving everything forward.
I wish you and your family all the best and I look forward to sending you some more positive news again shortly.
Talk soon,
Bob
Part of the CNYC mining properties is next to the Santa Fe Gold mine property. I believe that one of the new geologist Advisory Board members, John Kerr, brought in recently by CNYC, was involved in finding gold on the Santa Fe property. They were just looking for copper and other base metals, but also found gold. I have heard that he is very excited about the CNYC properties that he has looked at in Nevada and possibly California. I didn't get any other details, except that Kerr compares them to the Santa Fe property.
This information did not come from CNYC, but a gold mining newsletter writer that I contact at times.
Gold, if found, could boost CNYC's stock a good deal. Depends on how much gold and how easy it is to mine. This stock could be a very big winner. A little interest yesterday more than doubled the stock's price. If word gets out that gold and a good copper report, I believe that a big company will come knocking on CNYC's door! JMHO
Maybe there is more and we don't know about it. They did mention gold early on, and that would be a great find for us. Gold in CNYC's properties would be a big kicker for the stock. I guess that we will just have to wait and see. Geologists are looking over the property right now.
This is getting interesting!
This thing could really take off more with some good news. I hadn't thought about how it doubled on such low volume.
This is a sure fire 10 bagger if all goes well. Maybe even a 20 or 30 bagger from these low prices!
Looks like some buying today. Not real heavy. Someone trying to average down their share cost, I guess. No news out there!
Up today, down tomorrow!
I would love to see CNYC hit it big. No reason why not.
According to Bob Meister, the company's geologists are working the properties right now. One thing, the stock can't go much lower.
When I saw this baby hit 5 cents, I put in an order for 50,000 shares at 5 cents.
I don't really think there are many sellers at that price, it's a steal at that price! I'll wait it out.
I just checked the 5 cent trade. It was a 100 share deal. I guess somebody needed 5 bucks! I hope they didn't have to pay a commission or any fees. Down to a pack of crackers from the vending machine now!
I did not to intend to imply that anyone on this board was a part of the pumping or dumping. CNYC was the pumper and I have no idea who dumped.
Most of the posters on this board appear to be decent, polite and honest people. It's not the common stockholder that I have a gripe with, it's the CNYC IR people!
I agree with ChinaDude. You have to be kidding if you missed all the pumping by the CNYC IR people! Both before the TSX listing and just after.
Looks like we were all caught in the old "Pump and Dump" sceme!
How are they going to raise additional funds to start processing the copper ore? Another placement at the current CNYC price will eat up a lot of shares and leave us with shares of very little value.
I don't see this company really making this thing work. Where will the additional money come from? Only a buyout can save us and it doesn't appear to be on the agenda!
I was going to try and buy some more cheap shares, but changed my mind. It's throwing good money after bad!
I put an order in several hours ago for 40,000 CNYC shares at the Bid, .051. Raised it to .06, when the bid went up.
I sold my Facebook, at a little profit, after I saw the direction it was headed, down!
Analyst on CNBC gave a Sell to his clients for FB. He said it's worth about $30 a share. Buy back lower. I concur! I sold and didn't lose anything.
The sky is the limit for the possibilities of a company with 900 million users. What's going on now at FB is only a drop in the bucket to what the furure holds. If FB was a good deal yesterday at about the same price, it's a better deal today.