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Canyon Resources Limited ( (AU:CAY) ) has provided an update.
Canyon Resources Limited has announced an update on its Minim Martap bauxite project in Cameroon, confirming that construction work is ongoing and the project remains on schedule despite minor delays due to post-election unrest in the country. The company is fully financed to reach Stage 1 production, with first bauxite shipments expected in the second quarter of 2026. The project is supported by a combination of debt and equity funding, and key equipment deliveries are on track for early 2026, ensuring the project’s development timeline remains unchanged.
The most recent analyst rating on (AU:CAY) stock is a Buy with a A$0.40 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 an Australian company operating in the mining industry, primarily focused on the development of the Minim Martap bauxite project in Cameroon. The company is engaged in the extraction and production of bauxite, a key raw material for aluminum production.
Average Trading Volume: 1,131,307
Technical Sentiment Signal: Hold
Current Market Cap: A$345.9M
For detailed information about CAY stock, go to TipRanks’ Stock Analysis page.