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Canyon Resources Limited ( (AU:CAY) ) has shared an announcement.
Canyon Resources Limited announced significant progress in its Minim Martap Bauxite Project, highlighting a Definitive Feasibility Study that confirms the project’s strong economic potential with a net present value of over US$830 million and an internal rate of return of 29%. The company has commenced construction on key infrastructure, including an Inland Rail Facility and ore haulage road upgrades, with the first bauxite shipment scheduled for Q2 2026. The company also completed a strategic funding package, raising approximately A$205 million, and welcomed new leadership with the appointment of Peter Secker as CEO.
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 engaged in the mining industry, focusing on the development of bauxite projects. Its primary project is the Minim Martap Bauxite Project in Cameroon, which is positioned as a world-class, tier-one bauxite asset.
Average Trading Volume: 1,013,891
Technical Sentiment Signal: Buy
Current Market Cap: A$413.2M
Find detailed analytics on CAY stock on TipRanks’ Stock Analysis page.