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Canyon Resources to raise capital for bauxite project in Cameroon
Edited by : AL CIRCLE
1 min read
Bauxite-focused Canyon Resources has been granted a trading halt this morning, as the company prepares capital raising details.
Canyon's shares are currently in pre-open.
The company has entered into a joint venture to acquire up to an initial 75% interest in the Birsok bauxite project, which is located in Cameroon.
Birsok has the potential for direct shipping ore with low impurities.
The project is drill-ready with the potential for definition of a maiden Resource for less than $1 million worth of drilling.
The halt will remain in place until the opening of trade on Monday 3rd March 2014, or earlier if an announcement is made to the market.
Canyon's shares are currently in pre-open.
The company has entered into a joint venture to acquire up to an initial 75% interest in the Birsok bauxite project, which is located in Cameroon.
Birsok has the potential for direct shipping ore with low impurities.
The project is drill-ready with the potential for definition of a maiden Resource for less than $1 million worth of drilling.
The halt will remain in place until the opening of trade on Monday 3rd March 2014, or earlier if an announcement is made to the market.
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