Canyon Resources Secures Strategic Stake in CAMRAIL to Boost Bauxite Project Logistics

Canyon Resources Limited ( (AU:CAY) ) just unveiled an update.

Canyon Resources Limited has completed the acquisition of a 9.1% stake in CAMRAIL S.A., enhancing its logistics strategy for the Minim Martap Bauxite Project. This strategic investment secures a seat on the Camrail Board, aiding in the development of an efficient transport network crucial for the project’s success. The acquisition is a significant step toward de-risking logistics for the project, with the company progressing on mine planning, rail facility engineering, and port negotiations, aiming for first production by 2026.

More about Canyon Resources Limited

Canyon Resources Limited is a company operating in the mining industry, primarily focused on the development and production of bauxite. The company is advancing its Minim Martap Bauxite Project, which is one of the world’s richest bauxite deposits, aiming to establish a robust logistics network to support its operations.

YTD Price Performance: 22.22%

Average Trading Volume: 1,003,921

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$312.2M

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