- Canyon Resources (CAY) enters a trading halt in regards to an upcoming capital raising
- The company will remain in the halt until August 2 or when more details are released, whichever occurs first
- On June 17, Canyon revealed it had appointed André Henry as Director of Port Rail and Rail, Camalco
- At Canyon, Mr Henry will lead negotiations between Camalco and the government, and between Camrail and the Port Authority of Douala
- Shares in Canyon last traded at 9.3 cents on July 28
Canyon Resources (CAY) has entered a trading halt in regards to an upcoming capital raising.
The company will remain in the halt until August 2 or when more details are released, whichever occurs first.
Canyon is yet to disclose how much it intends to raise or what it will use the funds for once received.
On June 17, Canyon revealed it had appointed André Henry as Director of Port Rail and Rail, Camalco.
Mr Henry has more than 35 years of rail development and operational leadership experience
Additionally, he has operated his own successful rail consultancy business for 10 years and has worked on the Cameroonian rail network.
At Canyon, Mr Henry will lead negotiations between Camalco and the government, and between Camrail and the Port Authority of Douala to ensure alignment with technical studies.
Mr Henry is excited to join the Canyon team and says his experience will help.
“This project benefits greatly from the rail network, and I am absolutely ready to take on this challenge and deliver the infrastructure solutions for the Minim Martap Bauxite Project,” Mr Henry said.
“I’ve worked with Vecturis in the past and have worked on the Cameroon railway, so I know it intimately and I understand the challenges and opportunities exceptionally well.”
Shares in Canyon last traded at 9.3 cents on July 28. The company has a $58.02 million market cap.