https://newsletter.mw.creamermedia.com

Canyon hopes to combine Cameroon bauxite projects

10th August 2018

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

Aim- and TSX-V-listed Altus Strategies’ joint venture (JV) partner in Cameroon, ASX-listed Canyon Resources, has been granted three further exploration licences, including for the Minim Martap bauxite project, which is located adjacent to the Birsok project that is subject to a JV between Altus and Canyon.

Under the terms of a previously announced JV, Canyon has the right to earn up to a 75% interest in the Birsok project.

"Altus and Canyon are now in discussions in respect of vending the joint venture into Canyon. As part of our original JV terms, Altus currently owns eight-million shares in Canyon, which had a value of approximately A$1-million as at the close of trading in Canyon's shares prior to their announcement,” Altus CEO Steve Poulton said on Thursday.

Altus staked the strategically located Birsok project and cost-effectively advanced it, spending about $140 000 on exploration.

Canyon has subsequently completed two drill programmes at Birsok, which have successfully confirmed the presence of a number of high-grade bauxite plateau.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.132 0.255s - 142pq - 2rq
Subscribe Now