Australia's Canyon Resources jumps on exploration update for Cameroon project

Canyon Resources

07/10/2022 05:45

** Shares of Australia's Canyon Resources  CAY.AX  rise as
much as 7% to A$0.05 - set to climb the most since Sept 29, if
gains hold
    ** Bauxite and gold producer gives an exploration update for
Makan Bauxite Permit, a contiguous tenement to the Minim Martap
Bauxite Project in Cameroon  urn:newsml:reuters.com:*:nASX5C2MJj
    ** Says the priority will be the identification and
definition of long-term Direct Shipping Ore (DSO) options
    ** Adds exploration activities planned will satisfy the
requirements to maintain the permit under the terms of the
extension granted in February 2022
    ** Stock down 4.3% so far this week, on track for a second
straight week of losses
    ** Stock had fallen 55.2% this year, as of last close
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))