Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Canyon Resources Limited ( (AU:CAY) ) just unveiled an update.
Canyon Resources Limited has made significant progress in its Minim Martap Bauxite Project in Cameroon with the approval of port access at the Port of Douala, allowing for the development of key infrastructure. The company has secured a credit facility of approximately US$140 million from AFG Bank Cameroon to fund the acquisition of locomotives and the development of necessary transport infrastructure. These developments are expected to enhance operational efficiency and reduce capital expenditure, positioning the company for its first bauxite shipment in the first half of 2026. Additionally, the company has appointed new leadership and increased its cash balance, while planning to update its mineral resource estimate and finalize a definitive feasibility study in the coming months.
The most recent analyst rating on (AU:CAY) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on Canyon Resources Limited stock, see the AU:CAY Stock Forecast page.
More about Canyon Resources Limited
Canyon Resources Limited is a company operating in the mining industry, primarily focusing on the exploration and development of bauxite projects. The company’s key project is the Minim Martap Bauxite Project in Cameroon, which aims to produce and export bauxite ore.
Average Trading Volume: 625,030
Technical Sentiment Signal: Buy
Current Market Cap: A$437.3M
See more insights into CAY stock on TipRanks’ Stock Analysis page.