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Canyon Resources (CAY) investor relations material
Canyon Resources Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Definitive Feasibility Study (DFS) and Ore Reserves Upgrade confirm Minim Martap as a world-class, tier-one bauxite asset with initial capex under US$100M and first shipment targeted for Q2 2026.
Project NPV exceeds US$830M with an IRR of 29%, underpinned by a 20-year mine life and high-grade ore reserves.
Construction commenced on key infrastructure, including the Inland Rail Facility and haulage road upgrades, with first locomotives and wagons to arrive in Q1 2026.
Strategic funding package of A$205M secured, including a major commitment from Afriland and options exercised by Eagle Eye Asset Holdings.
New CEO and Non-Executive Director appointed, strengthening leadership for project execution.
Financial highlights
Cash balance of A$30.8M as of 30 September 2025.
Net cash from operating activities for the quarter was negative A$13.35M, with development and exploration outflows totaling A$10.8M and A$10M, respectively.
Net cash from financing activities was A$49.84M, driven by equity raises and borrowings.
Proceeds from borrowings totaled A$40.54M, with A$9.54M from option exercises.
Total available funding at quarter end was A$211.87M, with estimated 11.2 quarters of funding available.
Outlook and guidance
First mining operations and bauxite shipment scheduled for early and Q2 2026, respectively.
Ore Reserve estimates for Makan and Ngoundal expected in H2 2025; alumina refinery feasibility study to complete in Q3 2026.
Offtake negotiations and mining permits for additional tenements targeted for Q4 2025 and Q1 2026.
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