Canyon Resources Limited has announced securing a ~US$140 million credit facility from AFG Bank Cameroon to fund Stage One operations of the Minim Martap Bauxite Project in Cameroon. The project aims to expedite operations with the first shipment of bauxite expected in the first half of 2026. The credit facility will be used for acquiring locomotives, wagons, and developing necessary infrastructure for ore transport. Additionally, Canyon's major shareholder, Eagle Eye Asset Holdings, plans to exercise options worth AU$24.5 million to further support the project. This financial backing positions Canyon strongly for its development goals, with significant progress already achieved since receiving the mining license in September 2024.
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