BUZZ-Canyon Resources' Cameroon deal to help de-risk bauxite project, says brokerage

Reuters

03-11

BUZZ-Canyon Resources' Cameroon deal to help de-risk bauxite project, says brokerage

** Analysts at Edison Investment see Canyon Resources' CAY.AX strategic investment in Camrail as a positive for the Australian firm

** Says investment by Canyon in Cameroon's rail operator will allow the former to exercise more control over the local rail infrastructure upgrade

** The upgrade is required to bring the Minim Martap bauxite project into production

** Another indication of the company’s progress towards commissioning the project and its de-risking, says brokerage

** Brokerage maintains project-level valuation of Minim Martap at $566 mln

** Stock up 33.3% YTD

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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