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Canyon Resources Limited ( (AU:CAY) ) just unveiled an update.
Canyon Resources Limited has commenced construction of the Inland Rail Facility and the upgrade of the ore haulage access road in Cameroon, crucial for the Minim Martap Bauxite Project. These developments are pivotal for the company’s supply chain, enabling efficient transportation of bauxite to the Port of Douala, with production expected to start in early 2026. The project signifies a major step towards Canyon becoming a significant ASX-listed bauxite producer, with plans to expand bauxite storage and transport capacity in line with increased production.
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 leading bauxite developer focused on the Minim Martap Bauxite Project in Cameroon. The company is involved in the mining and export of bauxite, a key raw material for aluminum production, with a market focus on global export markets.
Average Trading Volume: 655,248
Technical Sentiment Signal: Buy
Current Market Cap: A$473M
For detailed information about CAY stock, go to TipRanks’ Stock Analysis page.