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The latest update is out from Canyon Resources Limited ( (AU:CAY) ).
Canyon Resources Limited has announced a strategic funding package of approximately A$215 million to accelerate the development of its Minim Martap bauxite project in Cameroon. The funding, which includes a two-tranche placement and an options exercise, will enable Canyon to enhance its investment in Camrail and support the commencement of operations by early 2026. This strategic move is backed by major shareholder Eagle Eye Asset Holdings and Afriland Bourse & Investissement, highlighting confidence in the project’s potential and its importance to Cameroon’s economic landscape.
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 a company operating in the mining industry, focusing on the development and production of bauxite. The company is primarily engaged in the Minim Martap project in Cameroon, which is a significant bauxite mining venture.
Average Trading Volume: 572,505
Technical Sentiment Signal: Buy
Current Market Cap: A$490.8M
See more data about CAY stock on TipRanks’ Stock Analysis page.