Canyon Resources Limited (AU:CAY)
ASX:CAY
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Canyon Resources Limited
(Sydney:CAY)
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Rating:43Neutral
Price Target:
AU$0.13
▼(-27.78% Downside)
Action:ReiteratedDate:03/12/26
The score is driven primarily by very weak financial performance (no revenue, worsening losses and cash burn in FY2025), only partially offset by a debt-free balance sheet. Technicals also lean bearish with the price below all key moving averages and negative MACD, while valuation provides limited support given the negative P/E and no dividend yield.
Positive Factors
Debt-free balance sheet
Zero reported debt materially reduces refinancing and interest burden, giving management flexibility to fund exploration, permitting or staged development through equity or JV. For multi-year mineral projects, low leverage lessens bankruptcy and liquidity risk over the medium term.
Negative Factors
Pre-revenue status
No operating revenue for multiple years means the company is fully dependent on capital markets to fund operations. That creates execution and timing risk: prolonged pre-revenue status increases probability of dilution, delays to development, and limits financial flexibility absent a financing or JV.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero reported debt materially reduces refinancing and interest burden, giving management flexibility to fund exploration, permitting or staged development through equity or JV. For multi-year mineral projects, low leverage lessens bankruptcy and liquidity risk over the medium term.
Read all positive factors
Canyon Resources Limited (CAY) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$278.39M
Dividend YieldN/A
Average Volume (3M)1.42M
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue GrowthN/A
EPS Growth-91.89%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,062,115,000
10 Day Avg. Volume2,136,652
30 Day Avg. Volume1,422,347
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)7.75
Price to Sales (P/S)0.00
P/FCF Ratio-19.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
Canyon Resources Limited Business Overview & Revenue Model
Company Description
Canyon Resources Limited, together with its subsidiaries, engages in the development and exploration of bauxite properties and engineering studies in West Africa. Its flagship property is the 100% owned Minim Martap Bauxite project located in cent...
How the Company Makes Money
null...
Canyon Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -383.67K | -294.25K | -97.50K | -59.45K | -84.79K | -99.96K |
| EBITDA | -10.33M | -13.23M | -9.44M | -4.93M | -12.69M | -4.65M |
| Net Income | -18.11M | -20.18M | -9.54M | -4.99M | -12.78M | -4.75M |
Balance Sheet | ||||||
| Total Assets | 164.15M | 51.56M | 44.54M | 29.58M | 21.59M | 20.39M |
| Cash, Cash Equivalents and Short-Term Investments | 85.82M | 11.48M | 22.17M | 10.73M | 4.48M | 2.68M |
| Total Debt | 63.58M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 71.63M | 6.50M | 667.54K | 741.89K | 1.18M | 1.24M |
| Stockholders Equity | 92.52M | 45.06M | 43.87M | 28.84M | 20.40M | 19.14M |
Cash Flow | ||||||
| Free Cash Flow | -52.16M | -17.84M | -13.08M | -5.93M | -8.24M | -8.30M |
| Operating Cash Flow | -19.80M | -17.69M | -9.57M | -4.55M | -7.98M | -3.28M |
| Investing Cash Flow | -41.63M | -11.08M | -3.50M | -1.38M | -126.75K | -5.02M |
| Financing Cash Flow | 132.10M | 18.51M | 24.43M | 12.18M | 10.13M | 9.33M |
Canyon Resources Limited Technical Analysis
Negative
0.18
Price Trends
0.18
Negative
0.18
Negative
0.22
Negative
Market Momentum
-0.01
Positive
34.89
Neutral
27.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CAY, the sentiment is Negative. The current price of 0.18 is above the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.18, and below the 200-day MA of 0.22, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 34.89 is Neutral, neither overbought nor oversold. The STOCH value of 27.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CAY.
Canyon Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$405.56M | 3.25 | 81.38% | ― | 45.56% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$446.39M | -10.44 | -63.51% | ― | ― | -98.20% | |
49 Neutral | AU$556.93M | -18.79 | -179.67% | ― | -100.00% | -6.00% | |
46 Neutral | AU$348.35M | -3.97 | -12.76% | ― | ― | 51.47% | |
43 Neutral | AU$278.39M | -15.09 | -26.32% | ― | ― | -91.89% |
* Basic Materials Sector Average
AU:CAY
Canyon Resources Limited
0.14
-0.10
-41.30%
AU:SVM
Sovereign Metals Limited
0.69
-0.14
-16.36%
AU:MMI
Metro Mining Limited
0.07
<0.01
10.00%
AU:MAU
Magnetic Resources NL
1.89
0.42
28.23%
AU:LOT
Lotus Resources Limited
1.28
-0.68
-34.78%
Canyon Resources Limited Corporate Events
Canyon Resources Flags Key Risks and Uncertainties for Minim Martap Bauxite Project
Mar 23, 2026
Canyon Resources has issued a detailed presentation dated 23 March 2026 outlining key assumptions, risks and uncertainties surrounding the development of its Minim Martap Bauxite Project and associated financial forecasts. The company emphasises t...
Canyon Resources Releases Interim Financial Report for Half-Year 2025
Mar 12, 2026
Canyon Resources Limited has released its interim financial report for the half-year ended 31 December 2025, including the directors’ report, financial statements, and the independent auditor’s review. The document outlines the company...
Canyon Resources Confirms Funding and Timetable for 2026 Minim Martap Bauxite Launch
Mar 10, 2026
Canyon Resources has advanced development of its Minim Martap Bauxite Project in Cameroon, with a surface miner now mobilised and mining scheduled to start before the end of March, targeting first bauxite production in early Q2 2026. The company i...
Canyon Resources Cancels Second Tranche of Planned Share Placement
Mar 9, 2026
Canyon Resources Limited has notified the ASX that its earlier filing for a proposed issue of securities via a placement has been formally cancelled. The move follows the company’s confirmation that shareholder approval was not obtained for ...
Canyon Resources Shareholders Reject Key Capital and Governance Resolutions
Mar 9, 2026
Canyon Resources shareholders voted on three ordinary resolutions at a general meeting held on 9 March 2026, all of which failed to secure sufficient support on a poll. The defeated items included the issue of Tranche 2 placement shares to EEA wit...
Canyon Resources Locks in 2026 Milestones for Minim Martap Bauxite Development
Feb 6, 2026
Canyon Resources has reported steady progress on the Minim Martap Bauxite Project in Cameroon, with commissioning of its surface miner set for February 2026 and haul road upgrades on track to support first ore haulage to the Inland Rail Facility i...
Canyon Resources Calls March General Meeting and Pushes Digital Shareholder Communications
Feb 5, 2026
Canyon Resources Limited has called a general meeting of shareholders to be held at the Park Business Centre in West Perth, Western Australia, on 9 March 2026 at 2:00pm AWST. In line with changes under the Corporations Act, the company will not be...
Canyon Resources to Release 2.3 Million Shares From Voluntary Escrow
Feb 5, 2026
Canyon Resources Limited has notified the market that 2,307,692 fully paid ordinary shares will be released from voluntary escrow on 12 February 2026, 12 months after their original issue. The release of these escrowed shares will modestly increas...
Canyon Resources Advances Minim Martap Bauxite Project and Bolsters Funding Ahead of 2026 Production Start
Jan 27, 2026
Canyon Resources has made substantial progress on the development of its Minim Martap Bauxite Project in Cameroon during the December 2025 quarter, advancing construction of the ore haulage access road, completing engineering designs for its Inlan...
Canyon Resources Switches Auditor to Ernst & Young Ahead of Bauxite Production Push
Jan 12, 2026
Canyon Resources Limited has appointed Ernst Young as its new external auditor, replacing HLB Mann Judd following a board-led review of the company’s audit arrangements and receipt of regulatory consent for the change. The switch to a Big F...
Canyon Resources Keeps Minim Martap Bauxite Project on Track for First Shipment in June 2026
Jan 7, 2026
Canyon Resources has confirmed that development of its Minim Martap Bauxite Project in Cameroon is on schedule, with the surface miner already in-country and mining operations slated to begin in February 2026. Key logistics milestones are progress...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.