viewCanyon Resources Ltd

Canyon Resources bauxite project PFS on track for June quarter release

The pre-feasibility study (PFS) on the two-stage, two-port development of the Minim Martap Bauxite Project is on track for a June quarter release.

Canyon Resources Ltd -
Canyon’s study and development team has met with port and rail representatives

Canyon Resources Ltd (ASX:CAY) continues to progress work on the infrastructure required for its two-stage development of the Minim Martap Bauxite Project in Cameroon.

Canyon completed a scoping study in November 2019 which supports a two-stage, two-port development strategy for Minim Martap.

This involves exporting bauxite through the Douala port as a Stage 1 standalone project, with a higher output planned for Stage 2, which would use the Kribi deep-water port. 

Formalising a development pathway

Canyon has been meeting with Cameroon's rail operator Camrail, as well as executives from both ports.

Representatives from Camrail and both ports have been supportive of Canyon's proposed pathway to project development.

Notably, the ports' representatives and Canyon have agreed to formalise the development pathway including timelines and outcomes to expedite the process and execute access agreements. 

Right team and partners in place

Canyon’s Director of Projects James Durrant said: “Achieving alignment with all key stakeholders on a clear path to progress access agreements for port and rail is a significant step in the commercial development of Minim Martap’s supply chain solution.

“The support for our project is fantastic and we are confident that we have the right team and partners both in-country and globally to ensure the success of this country critical project.” 

Quick facts: Canyon Resources Ltd

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Market: ASX
Market Cap: $62.4 m

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