Minim Martap Undertaking Replace | INN

Canyon Assets Restricted (ASX: CAY) (‘Canyon’ or the ‘Firm’) is happy to supply an replace on key growth workstreams on the Firm’s flagship Minim Martap Bauxite Undertaking (‘Minim Martap’ or ‘the Undertaking’), positioned in Cameroon, because the Firm continues to make fast progress towards manufacturing.

Minim Martap ranks among the many world’s richest bauxite deposits, underpinned by an Ore Reserve of 109Mt at 51.1% whole Al₂O₃ and a pair of.0% whole SiO₂ and a JORC Mineral Useful resource Estimate of 1,027Mt at 45.3% whole Al₂O₃ and a pair of.7% whole SiO₂

The Definitive Feasibility Research (DFS) stays on schedule for completion in Q3 2025, with a give attention to optimising operational efficiencies, guaranteeing sustainable economics and confirming the popular pathway to manufacturing. The Firm stays assured that the DFS will reinforce the viability of Minim Martap as a world-class bauxite mission. Concurrently, discussions with choose debt suppliers are progressing positively, as Canyon seeks to safe an optimum funding construction in alignment with strategic aims and outcomes from the DFS.

As a part of the DFS, Canyon is presently evaluating the implementation of a two-stage growth technique, geared toward accelerating manufacturing by way of a phased ramp-up to allow a primary bauxite cargo in 2026. This method would allow earlier income technology, strengthen provide chain relationships and strategically place Minim Martap for future development as rail capability expands. Along with this course of, Canyon has engaged a number of internationally recognised consultants to refine and optimise the present rail infrastructure required for the transport of the bauxite ore. Detailed assessments are actually underway to boost logistical effectivity and discover capability enlargement methods that can help long-term operational development.

As a part of mission execution planning, Canyon is working with main mining tools distributors to outline procurement schedules and supply timelines, guaranteeing well timed entry to crucial mining tools, which can be important for assembly focused manufacturing timelines and targets and sustaining operational effectivity. The Firm stays targeted on aligning tools availability with its potential staged growth technique to help seamless mission execution.

Discussions with potential offtake companions are advancing nicely, with negotiations reflecting robust market curiosity in Minim Martap’s high-quality bauxite product and supporting the Firm’s efforts to safe long- time period gross sales agreements. Establishing these strategic partnerships is a key step in de-risking the Undertaking, working by way of the related financing discussions and guaranteeing an environment friendly pathway in direction of graduation of operations.

Bauxite market fundamentals and pricing has strengthened over the previous 12 months, with the CIF China value for 45% Al₂0₃ and three% whole SiO₂ ex Guinea reported to be roughly $US 100/DMT in February 2025. The product from Minim Martap with a proved or reserve grade 51.1% whole Al₂0₃ and whole SiO₂ ought to obtain a substantial premium value in comparison with a forty five% Al₂O₃ and SiO₂ bauxite product.

Lastly, Canyon continues to give attention to constructing out its mission crew and administration crew to make sure the Firm is well-positioned in the course of the subsequent part of growth development, as Canyon works towards turning into a near-term bauxite producer.

Mr Jean-Sebastien Boutet, Canyon Chief Government Officer commented:“Progress at our world-class Minim Martap Undertaking continues as deliberate, reinforcing our confidence in our timeline in direction of manufacturing. Notably, the evaluation of a possible two-staged growth technique has been notably promising, providing the chance for fast-tracked manufacturing and income technology, whereas strategically positioning the Firm to capitalise on increasing rail capability and the institution of key provide chain relationships.

“Our crew stays dedicated to remodeling the Minim Martap Bauxite Undertaking right into a world-class operation that delivers sustainable, long-term worth for shareholders and stakeholders alike. We’ll proceed to supply well timed updates as we obtain key milestones and advance towards manufacturing.”