Canyon Resources Ltd (ASX:CAY)

Canyon Resources Ltd (ASX:CAY)

Share Price
$ 0.19
0 (0.00 %)
Market Cap
$77.38 m
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Canyon Resources Ltd

Canyon Resources Ltd (ASX:CAY) agreed to a farm-in transaction to acquire up to 75% of the Birsok Bauxite Project in Cameroon.

Market: ASX:CAY
52-week High/Low: A$0.310 / A$0.096
Sector: Mining
Market Cap: $77.38 m
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Big Picture – A Deep Dive Examination of Canyon Resources Ltd

Canyon Resources Ltd Snapshot

Canyon Resources is focused on developing the Minim Martap Bauxite project in the Adamawa Region of Cameroon.

Minim Martap Project - Bauxite

The Minim Martap Project is a large scale bauxite deposit located in the Adamawa region of Cameroon, alongside Canyon’s Birsok Bauxite Project.

(click here for more information on this project)

Birsok Project - Bauxite

Canyon has completed a Prime Ministerial committee review process regarding the company's proposal to develop a Direct Shipping Ore (DSO) bauxite mining and export operation. Having received positive feedback regarding the results of that process, the Company continues to await a final approval regarding its proposal from the Government of Cameroon. Company Management has been in Cameroon and continues to meet with senior Government officials to complete this process.

Canyon sees the potential for the Birsok Project to be a material part of Cameroon's emergence as a potential world-class producer of bauxite.

The Birsok Project is located in central Cameroon and is contiguous to the world-class high-grade Minim Martap bauxite deposit. The Project is comprised of two permits over 1,462km2 and is located along raised plateaux similar to the nearby Minim Martap Deposit.  The project is highly prospective for high grade, low contaminant, DSO bauxite, and importantly is within 10km of the rail line to the Douala port facility.

Burkina Faso Project

Some of the world’s most productive mines are located in West African greenstone belts. These belts cover approximately 3, 000 km², making the area’s exploration potential enormous. Burkina Faso currently accounts for 21% of West Africa’s greenstone belt exposure.

Canyon’s four project areas are along these greenstone belts and have potential to host significant mineral resources, as demonstrated by recent exploration results.

  • Taparko North Project (northeast)
  • Tao Project (northeast)
  • Derosa Project (north)
  • Pinarello Project (south-west)

Canyon’s projects are along strike from operating multi-million-ounce gold mines;

  • Taparko (2MozAu)
  • Essakane (5MozAu)


Last updated 20th December 2018

Non-Executive Chairman

Mr. Netherway received a B.E. in Mining Engineering and a Certified Diploma in Accounting and Finance. Mr. Netherway is a mining engineer with over 40 years of experience in the mining industry.

Mr Netherway is currently the Chairman of Kilo Goldmines Inc.(KGL-TSX-V), Canyon Resources Ltd (CAY-ASX) and Altus Strategies plc(ALS:AIM, ALTS:TSX-V) and a non-executive director of Avesoro Resources Inc.(ASO-TSX & AIM) and Kore Potash plc(KP2:AIM, ASX & JSE)

B.Bus – Managing Director

Mr Gallagher has had extensive experience in senior commercial and operational roles in both private and public companies. He was previously Managing Director of ASX listed Empire Beer Group Ltd, Marketing Manager Western Australia for the Fosters Group for over 4 years and has held various other commercial and general management roles.

Mr Gallagher is the founder of Canyon Resources and has operated in West Africa for the past eight years.

Non-Executive Director

Mr. Correia has 25 years of public company and corporate finance experience in Australia, North America and the United Kingdom. His areas of expertise include IPOs, secondary capital raisings, corporate strategy, structuring, mergers and acquisitions and corporate governance. He has also held various senior positions with Deloitte and other accounting firms and boutique corporate finance houses. He is a founding director of Peloton Capital and Peloton Advisory.

He currently serves as a non-executive director of Canyon Resources Limited, Argent Resources Limited and Orminex Limited and is the Company Secretary of Bluglass Limited and joint Company Secretary of Argent Minerals Limited.


Last updated 20th December 2018

Principle Place Of Business

Canyon Resources Limited
Level 9, 863 Hay Street
Perth WA 6000

Telephone: +61 8 6382 3342
Fax: +61 8 9324 1502

Postal Address

PO Box 7606
Cloisters Square
Perth WA 6000

Registered Office

Canyon Resources Limited
Level 9, 863 Hay Street
Perth WA 6000


David Netherway (Non Executive Chairman)
Phillip Gallagher (Managing Director)
Emmanuel Correia (Non Executive Director)

Company Secretary

John Lewis

Office Administrator

Pauline Blundell

Registered Office Address

Level 9 / 863 Hay Street
Cloisters Square
Perth 6000

Principal Office Address

Level 9 / 863 Hay Street
Cloisters Square
Perth 6000

Postal Address

PO Box 7606
Cloisters Square
Perth WA 6000


HLB Mann Judd
L4/ 130 Stirling Street
Perth WA 6000

Share Registry

Computershare Limited
Level 2, 45 St Georges Terrace
Perth WA 6000

Phone: 1300 787 272
Fax: (08) 9323 2033


Phone: + 61 (08) 9682 3342
Fax: + 61 (08) 9324 1502
Email: [email protected]

Last updated 20th December 2018

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