Canyon Resources Limited provided a development update for its Minim Martap Bauxite Project ('Minim Martap' or'the Project'), located in Cameroon. The road contractor has mobilised additional equipment to site, with upgrade works progressing well and remain on track for completion by the end of first quarter, 2026. The commencement of mining at Minim Martap is on track for February 2026 following the arrival of the surface miner at the Port of Douala in Cameroon in December 2025.
Key senior operational appointments have been completed, with the recruitment of an experienced Mine Director, who is a mining engineer with over 15 years of experience in Africa and Asia and previously worked in bauxite operations in Guinea, as well as an experienced Port Manager, who is an engineer with over 15 years of port operations experience in Asia and Guinea, with significant bulk tonnage ore shipments, port handling and off-shore transhipping expertise. Both appointees are scheduled to be in-country in this month, materially strengthening Canyon's on-the-ground leadership team as the Company transitions from development into operations. These appointments significantly enhance operational readiness across mining and port logistics and support the continued progression of the Minim Martap Bauxites Project toward first production.
At the Annual General Meeting held on the 25th of November 2025, shareholders approved the CAD 70 million equity raise pursuant to Tranche 2 of the Placement, announced on the 25th of September to Afriland Bourse & Investment ('Afriland'). refer to ASX announcement dated 25 September 2025 for further details in relation to the Tranche 2 Placement.
