Canyon Resources Ltd, has announced the release of its updated Definitive Feasibility Study (DFS) for the Company’s flagship Minim Martap Bauxite Project in Cameroon. The DFS confirms the Project’s strong economic fundamentals and outlines a clear pathway for the phased development of what is expected to become a significant new bauxite producer.
The DFS has been released alongside an updated Mineral Resource and Ore Reserve statement. The Ore Reserve estimate has been increased by one third, now standing at 144Mt of direct shipping ore (DSO) grade material, with an average grade of 51.2% Al₂O₃ and 1.7% SiO₂. This reserve will underpin the long-term future of the Minim Martap Project.
Key highlights of the DFS include: Stage 1 capital expenditure of US$96 million to achieve first ore shipment, a pre-tax net present value (NPV6) of US$835 million, and a pre-tax internal rate of return (IRR) of 29%
This latest report provides in-depth insights into the Project’s updated resource base, phased development strategy, infrastructure plans and financial modelling. It demonstrates the potential for Minim Martap to become a tier-one, long-life bauxite operation with significant economic impact for Cameroon and strong value for investors.
To access the full DFS and Ore Reserve Update to explore the details behind these results, go here:
https://api.investi.com.au/api/announcements/cay/76c1485b-0cf.pdf
https://api.investi.com.au/api/announcements/cay/c87b964b-42c.pdf
