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Canyon Resources Boosts Cash Reserves with $24.5M Investment

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Canyon Resources Boosts Cash Reserves with $24.5M Investment

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Canyon Resources Limited ( (AU:CAY) ) has shared an announcement.

Canyon Resources Limited has announced the issuance of 123,741,836 fully paid ordinary shares to major shareholder Eagle Eye Asset Holdings Pte Ltd, following the exercise of unquoted options. This transaction has increased the company’s cash reserve by $24.5 million, which will support the advancement of its Minim Martap Project. The company has also provided a cleansing notice under the Corporations Act, allowing the new shares to be traded immediately.

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, focusing on advancing its flagship Minim Martap Project towards production.

Average Trading Volume: 605,998

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$412.1M

See more data about CAY stock on TipRanks’ Stock Analysis page.

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