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Canyon Resources Limited
(Sydney:CAY)
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Rating:42Neutral
Price Target:
AU$0.05
▼(-8.00% Downside)
Action:Upgraded
Date:10/02/26
The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and very large negative free cash flow alongside higher leverage). Technical indicators add modest pressure due to the price sitting below longer-term moving averages and negative MACD, while valuation is also unfavorable given a negative P/E and no dividend support.
Positive Factors
Project asset build
The substantial increase in assets indicates meaningful project investment or asset build around Canyon’s development strategy. If converted into productive bauxite operations, this larger asset base could support future capacity, project financing, and eventual commercialisation of the Minim Martap opportunity.
Negative Factors
No commercial revenue
The absence of revenue shows Canyon has not yet reached commercial operating scale, so its business currently depends on developing assets rather than recurring product sales. This leaves future earnings contingent on successful permitting, feasibility work, construction, and eventual bauxite production.
Read all positive and negative factors
Positive Factors
Negative Factors
Project asset build
The substantial increase in assets indicates meaningful project investment or asset build around Canyon’s development strategy. If converted into productive bauxite operations, this larger asset base could support future capacity, project financing, and eventual commercialisation of the Minim Martap opportunity.
Read all positive factors
Canyon Resources Limited (CAY) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$98.98M
Dividend YieldN/A
Average Volume (3M)507.74K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue GrowthN/A
EPS Growth66.20%
CountryAU
Employees8
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,062,115,000
10 Day Avg. Volume251,682
30 Day Avg. Volume507,743
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)2.04
Price to Sales (P/S)0.00
P/FCF Ratio-2.39
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)AU$213.00M
Canyon Resources Limited Business Overview & Revenue Model
Company Description
Canyon Resources Limited, together with its associated entities, focuses on the exploration, development, and engineering assessments of bauxite deposits across West Africa. The company's principal asset is the Minim Martap Bauxite project, which ...
How the Company Makes Money
Canyon Resources’ expected revenue model is tied to developing and monetising bauxite assets. As of publicly available information, the company is primarily in the exploration/development phase, so it typically does not generate material recurring...
Canyon Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
14
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -188.57K | -294.25K | -97.50K | -59.45K | -84.79K |
| EBITDA | -7.21M | -13.23M | -9.44M | -4.93M | -12.69M |
| Net Income | -9.48M | -20.18M | -9.54M | -4.99M | -12.78M |
Balance Sheet | |||||
| Total Assets | 202.26M | 51.56M | 44.54M | 29.58M | 21.59M |
| Cash, Cash Equivalents and Short-Term Investments | 45.84M | 11.48M | 22.17M | 10.73M | 4.48M |
| Total Debt | 108.60M | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 115.07M | 6.50M | 667.54K | 741.89K | 1.18M |
| Stockholders Equity | 87.19M | 45.06M | 43.87M | 28.84M | 20.40M |
Cash Flow | |||||
| Free Cash Flow | -74.19M | -17.84M | -13.08M | -5.93M | -8.24M |
| Operating Cash Flow | -7.17M | -17.69M | -9.57M | -4.55M | -7.98M |
| Investing Cash Flow | -120.77M | -11.08M | -3.50M | -1.38M | -126.75K |
| Financing Cash Flow | 159.84M | 18.51M | 24.43M | 12.18M | 10.13M |
Canyon Resources Limited Technical Analysis
Neutral
0.05
Price Trends
0.05
Positive
0.06
Negative
0.11
Negative
Market Momentum
>-0.01
Negative
56.06
Neutral
111.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CAY, the sentiment is Neutral. The current price of 0.05 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.05, and below the 200-day MA of 0.11, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 56.06 is Neutral, neither overbought nor oversold. The STOCH value of 111.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | AU$49.59M | -87.73 | -2.00% | ― | 104.42% | ― | |
52 Neutral | AU$68.71M | -6.69 | -7.34% | ― | -100.00% | 22.03% | |
52 Neutral | AU$287.75M | 14.00 | 21.31% | 5.00% | ― | 119.59% | |
51 Neutral | AU$168.15M | 3.50 | 7.74% | 3.70% | -13.27% | ― | |
44 Neutral | AU$70.39M | -26.58 | -2.99% | ― | -100.00% | 70.00% | |
42 Neutral | AU$98.98M | -9.80 | -10.55% | ― | ― | 66.20% |
* Basic Materials Sector Average
AU:CAY
Canyon Resources Limited
0.05
-0.13
-73.33%
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4.48
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―
―
―
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0.22
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Canyon Resources Limited Corporate Events
Canyon Resources Sets AGM Date and Director Nomination Deadline
Oct 2, 2026
Canyon Resources Limited has announced that it expects to hold its Annual General Meeting at 2pm WST on Monday, 30 November 2026 in Western Australia. The formal Notice of Meeting will be released to the ASX and sent to shareholders ahead of the e...
Canyon Resources files updated ASX corporate governance disclosures
Sep 30, 2026
Canyon Resources Limited has lodged its corporate governance statement for the year ended 30 June 2026 with the ASX, confirming that the statement is current as at 30 September 2026 and approved by the board. The company has also submitted the req...
Canyon Resources Details Governance Structure in 2026 Annual Report
Sep 30, 2026
Canyon Resources Limited, an ASX-listed mining and resource development company based in West Perth, Western Australia, operates under a non-executive board structure with a dedicated chief executive officer and company secretary. Its corporate fr...
Canyon Resources takeover bid from A2MP lapses, control status unchanged
Sep 23, 2026
Canyon Resources has confirmed that an unsolicited, conditional off-market takeover bid by A2MP Investments for all remaining Canyon shares it did not already own or control has closed and lapsed. With the offer expiring on 21 September 2026, all ...
Canyon Resources Tightens Governance as It Urges Rejection of A2MP Takeover Bid
Sep 21, 2026
Canyon Resources has strengthened the governance framework around A2MP Investments FZCO’s unsolicited conditional off‑market takeover bid by voluntarily amending its Independent Board Committee (IBC) Charter in line with Takeovers Pane...
Takeovers Panel Tightens Governance in Canyon Resources Takeover Battle
Sep 14, 2026
Australia’s Takeovers Panel has accepted undertakings from Canyon Resources and bidder A2MP Investments aimed at strengthening governance around Canyon’s response to A2MP’s off‑market takeover bid, due to close on 21 Septem...
A2MP lifts control in Canyon Resources as takeover bid conditions remain outstanding
Sep 14, 2026
A2MP Investments FZCO has launched an off-market takeover bid for all Canyon Resources Limited shares it does not already own, under Australia’s Corporations Act. The offer is detailed in a series of bidder’s statements lodged since la...
A2MP Declares Canyon Takeover Bid Best and Final as Board Opposition Limits Support
Sep 11, 2026
A2MP Investments FZCO has issued a fourth supplementary bidder’s statement for its off-market takeover offer for Canyon Resources Limited, confirming that its bid price of A$0.05 per share is now declared best and final and will not be incre...
S&P Dow Jones Unveils September 2026 Rebalance of S&P/ASX Indices
Sep 4, 2026
SP Dow Jones Indices has announced its September 2026 quarterly rebalance of the SP/ASX indices, with several additions and removals across the SP/ASX 50, 100, 200 and 300 benchmarks, while leaving the SP/ASX 20 unchanged. The reshuffle, which inc...
A2MP Escalates Canyon Resources Takeover Battle With New Supplementary Statement
Sep 2, 2026
A2MP Investments FZCO has lodged a third supplementary bidder’s statement with ASIC in relation to its off-market takeover offer for Canyon Resources Limited. The new document responds to Canyon’s target’s statement and accompany...
Canyon Resources Dispatches Target’s Statement on A2MP Takeover Bid
Aug 31, 2026
Canyon Resources has released and begun dispatching its target’s statement responding to A2MP Investments’ unsolicited off‑market takeover offer for all remaining Canyon shares. Shareholders and optionholders as at 29 July 2026 a...
Canyon Resources Board Urges Shareholders to Reject A2MP Takeover Bid
Aug 31, 2026
Canyon Resources’ Independent Board Committee and chairman Mark Hohnen have urged shareholders to reject an off-market takeover offer from A2MP Investments FZCO, which proposes A$0.05 in cash per share. An independent expert has concluded th...
Takeovers Panel Freezes A2MP’s Bid Activity in Canyon Resources Dispute
Aug 28, 2026
The Takeovers Panel President has issued interim orders in response to an application by shareholder Jeremy Raper concerning affairs at Canyon Resources Limited, an Australian-listed company currently subject to an off-market takeover bid from A2M...
Takeovers Panel receives challenge to A2MP’s bid for Canyon Resources
Aug 26, 2026
Australia’s Takeovers Panel has received an application from shareholder Jeremy Raper concerning A2MP Investments FZCO’s off-market takeover bid for Canyon Resources Limited, which holds 55.56% voting power and is offering $0.05 per sh...
Canyon Board Urges ‘No Action’ on Discounted A2MP Takeover Bid
Aug 24, 2026
Canyon Resources’ Independent Board Committee has urged shareholders to take no action on A2MP Investments’ unsolicited A$0.05 per share takeover bid, highlighting that the offer represents a steep discount to Canyon’s pre-bid tr...
Canyon’s Minim Martap Project Advances Logistics as Funding Pressures Mount
Aug 24, 2026
Canyon Resources has confirmed that the first 60 of 160 rail wagons for the Minim Martap Bauxite Project will arrive in Douala over the next two months, enabling locomotive and wagon trials in the fourth quarter of 2026. The dedicated haulage road...
Canyon Resources Wins Extra Time to Respond to A2MP Takeover Bid
Aug 21, 2026
Canyon Resources has secured a seven-day extension from the corporate regulator to lodge its formal response to an unsolicited conditional off-market takeover bid from majority shareholder A2MP Investments. The company now has until 3 September 20...
A2MP Extends Canyon Resources Takeover Offer Deadline
Aug 21, 2026
A2MP Investments FZCO has extended the offer period for its off-market takeover bid for all remaining shares in Canyon Resources Limited, following a request from Canyon. The bid, originally due to close on 14 September 2026, will now remain open ...
Canyon Resources Seeks Voluntary Suspension Ahead of Bauxite Project Update
Aug 20, 2026
Canyon Resources has requested a voluntary suspension of trading in its securities on the ASX, effective immediately, following an earlier trading halt. The suspension will remain in place until either 24 August 2026 or the release of a forthcomin...
Canyon Resources Halts Trading Ahead of Minim Martap Bauxite Project Update
Aug 17, 2026
Canyon Resources has requested and been granted a voluntary trading halt in its securities on the ASX, as it prepares an announcement on the Minim Martap Bauxite Project, covering the development schedule and existing project funding. Trading in C...
A2MP Advances Takeover Bid for ASX-Listed Canyon Resources
Aug 12, 2026
Canyon Resources Limited is an ASX-listed mineral resources company whose ordinary shares trade under the ticker CAY. Operating in the mining and exploration sector, Canyon attracts strategic investment interest from parties aiming to consolidate ...
Canyon Resources Urges Shareholders to Hold Fire on Discounted A2MP Takeover Bid
Aug 11, 2026
Canyon Resources’ Independent Board Committee has been formed from directors not associated with majority shareholder A2MP Investments to evaluate an unsolicited, conditional off‑market takeover bid for all remaining shares. The commit...
Canyon Resources Corrects Quarterly Cash Flow Report
Aug 10, 2026
Canyon Resources has issued an amended quarterly cash flow report after identifying an incorrect value in its previously lodged Appendix 5B for the quarter ended 30 June 2026. The correction affects specific cash flow line items, while all other f...
A2MP flags funding and timeline concerns in Canyon Resources takeover bid
Jul 31, 2026
A2MP Investments FZCO has issued a supplementary bidder’s statement in connection with its off-market takeover bid for all Canyon Resources shares it does not already own or control. The document responds to Canyon’s June 2026 quarterl...
Canyon Resources Tightens Grip on Cameroon Logistics as Minim Martap Rail Fleet Nears Operation
Jul 31, 2026
Canyon Resources has advanced development of its Minim Martap bauxite project in Cameroon, delivering seven locomotives, completing most commissioning tests and preparing for initial ore transport between the inland rail facility and the Port of D...
Canyon Resources Reviews Unsolicited Takeover Bid From Majority Shareholder
Jul 29, 2026
Canyon Resources Limited, an ASX-listed mineral exploration and development company headquartered in West Perth, operates in the resources sector with a portfolio of commodity-focused projects and a majority shareholder, A2MP Investments FZCO. Its...
A2MP launches A$0.05-per-share takeover bid for Canyon Resources
Jul 29, 2026
A2MP Investments FZCO has initiated an off-market cash takeover bid for all ordinary shares in Canyon Resources Limited that it does not already own or control. The offer is priced at A$0.05 per share, with the bidder’s statement lodged with...
Canyon Resources appoints new director with no disclosed shareholding
Jul 2, 2026
Canyon Resources Limited has notified the market of the appointment of Mr Rory McGoldrick as a director effective 2 July 2026, in compliance with ASX Listing Rule 3.19A.1. The filing forms part of the company’s ongoing governance disclosures...
Canyon Resources Adds Experienced Director as Bauxite Project Nears Production
Jul 2, 2026
Canyon Resources Limited has appointed Rory McGoldrick as a Non-Executive Director, adding deep experience across the energy and resources sector, corporate law, capital markets and ASX compliance. McGoldrick currently holds several executive and ...
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.