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.
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