Canyon Resources Secures $140M Funding for Minim Martap Project

Canyon Resources Limited ( (AU:CAY) ) has issued an update.

Canyon Resources Limited has secured a US$140 million credit facility from AFG Bank Cameroon to fund the first stage of operations at its Minim Martap Bauxite Project. This financial backing, along with additional funds from Eagle Eye Asset Holdings, positions Canyon to advance its project development, aiming for its first bauxite shipment in the first half of 2026, thereby enhancing its market position and stakeholder confidence.

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 the development of the Minim Martap Bauxite Project in Cameroon. The company is engaged in the acquisition and development of infrastructure necessary for bauxite ore transport and export.

Average Trading Volume: 669,409

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$355.5M

For detailed information about CAY stock, go to TipRanks’ Stock Analysis page.