The Company has identified some material opportunities to optimise the BFS and improve the project efficiency and economics. The BFS optimisation work has necessitated additional time, hence the current timing targeting BFS release in
The key drivers for this revised BFS release date centre around opportunities realised for improved rail production capacity (which directly influences project throughput), and a superior port handling facility location and capacity. As part of the BFS, Canyon engaged Vecturis, a West African-focused railway engineering consultant, to evaluate
The traffic capacity of the railway determines the throughput of the
Bankable Feasibility Study Update Canyon Resources Limited Page 2 of 6 Following compilation of comprehensive rail traffic data, Vecturis developed a static traffic capacity model, followed by a dynamic simulation model using specialised railway modelling software. Initially targeting a 5 million tonnes per annum (Mtpa) production rate (throughput), as established in the Project's Prefeasibility Study (PFS), the Vecturis dynamic simulation model concluded that rail traffic capacity is significantly better than previously anticipated. As such, the Project's throughput has increased by more than 20% - a material improvement from the PFS assumptions. In addition to the rail studies, a review of the rail operations methodology, with the support of the
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Forward looking statements
All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Canyon, are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'future', 'intend', 'may', 'opportunity', 'plan', 'potential', 'project', 'seek', 'will' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that are expected to take place. Such forwardlooking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of Canyon that could cause Canyon's actual results to differ materially from the results expressed or anticipated in these statements. Canyon cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Canyon does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing requirements.
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Email: info@canyonresources.com.au
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