Canyon Resources Secures $24.5 Million for Rapid Development of Minim Martap Bauxite Project

Reuters

2025/05/21

Canyon Resources Secures $24.5 Million for Rapid Development of Minim Martap Bauxite Project

Canyon Resources Limited has announced a significant development in its flagship Minim Martap Bauxite Project located in Cameroon. The company has received a capital injection of $24.5 million from its major shareholder, Eagle Eye Asset Holdings, which exercised 350 million options. This financial boost will strengthen Canyon's balance sheet and support the predevelopment workstreams necessary for the project's progression. The funds will be used to complete the Definitive Feasibility Study, scheduled for Q3 2025, and other key development activities ahead of the final investment decision and construction. With plans for the first bauxite shipment in 2026, this advancement marks a significant step towards establishing Minim Martap as a sustainable, long-term operation, contributing value to the company, Cameroon's economy, and its shareholders.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Canyon Resources Limited published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9455501-en) on May 21, 2025, and is solely responsible for the information contained therein.

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The company has received a capital injection of $24.5 million from its major shareholder, Eagle Eye Asset Holdings, which exercised 350 million options. This financial boost will strengthen Canyon's balance sheet and support the predevelopment workstreams necessary for the project's progression. The funds will be used to complete the Definitive Feasibility Study, scheduled for Q3 2025, and other key development activities ahead of the final investment decision and construction. With plans for the first bauxite shipment in 2026, this advancement marks a significant step towards establishing Minim Martap as a sustainable, long-term operation, contributing value to the company, Cameroon's economy, and its shareholders.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Canyon Resources Limited published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9455501-en) on May 21, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BKPKM429.USD","symbol_name":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250521:nNDL78R3xG:1","article_id":"2537762236","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2537762236","pubTimestamp":1747795413,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Canyon Resources Limited has announced a significant development in its flagship Minim Martap Bauxite Project located in Cameroon. 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The company has received a capital injection of $24.5 million from its major shareholder, Eagle Eye Asset Holdings, which exercised 350 million options. This financial boost will strengthen Canyon's balance sheet and support the predevelopment workstreams necessary for the project's progression. The funds will be used to complete the Definitive Feasibility Study, scheduled for Q3 2025, and other key development activities ahead of the final investment decision and construction. With plans for the first bauxite shipment in 2026, this advancement marks a significant step towards establishing Minim Martap as a sustainable, long-term operation, contributing value to the company, Cameroon's economy, and its shareholders.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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