Project 12 statements
The deposit 5
Key takeaway. Management describes the deposit as bauxite with a resource size of over 1.1 billion tons.
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In April 2026 they reported a grade of 51% alumina and 2% silica, while in December 2025 they cited the same alumina grade but less than 2% silica.
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Jurisdiction 4
Key takeaway. Management reports that the company's mining license for its Cameroon project was granted in late 2024 (mid third quarter) and reaffirmed as granted late last year (Dec 2025).
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According to the company, the environmental impact statement was completed two and a half years ago and the project is permitted to export (Apr 2026).
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Technical risk 3
Key takeaway. Regarding technical risk, Canyon Resources' management identifies rail capacity as the critical factor.
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"Without rail capacity, we basically have no cash flow," they stated in April 2025. Their projections assume bauxite prices stabilize at around $65 US a ton (Guinea standard) and target production of 5 million tons by 2029 and 10 million tons by 2031 (stated in December 2025).
Economics 11 statements
Economics 8
Key takeaway. Management has laid out the project's economics across two updates.
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In December 2025, the company reported a 97-million-US-dollar capex, a $35/ton operating cost, an NPV of over US$800 million, an IRR of 29%, and a payback of three and a half years. By April 2026, the capex had moved to just under US$100 million and the operating cost to about $36/ton to put it on a boat plus roughly $20/ton to final destination, with a price assumption of $65/ton for Guinea standard and $76–78/ton for Mini Martite at 51%.
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Financing 3
Key takeaway. Regarding financing, management stated in December 2025 that about $140 million US is needed.
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By April 2026, the company reported about $40 million cash in the bank and an undrawn debt facility from AFG, a local bank, of about $95 million. Management did not reconcile these figures or explain how the earlier $140 million estimate relates to the later cash and debt facility total.
Timeline 12 statements
Timeline 11
Key takeaway. Management has provided timelines that differ between two statements.
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In December 2025 the company said mining would begin in January 2026, locomotives would arrive in February and be commissioned in March, road construction would finish in March, and first shipment would occur in June 2026. By April 2026, management updated those estimates: locomotives are now expected to arrive "towards the end of May, early June," road construction is 80% complete with completion in "the next couple of months," construction overall is 50% done and should reach 100% over the next three to four months, and first shipment is now slated for "towards the end of September" at about 50,000 tons grading 51% and 2%. The company still expects first production in mid-2026, with trial mining in the coming weeks and production mining in May and June.
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Catalysts 1
Corporate 7 statements
Management 1
Market 3
Key takeaway. Management says Canyon Resources holds the highest-grade undeveloped bauxite deposit in the world, positioning it favorably on the cost curve.
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The company reports a projected cost of $35 per ton FOB or CIF, with a $25–30 margin based on a selling price of $81–82 per ton. To support growth, management notes a World Bank facility of $820 million has been allocated for rail upgrades that would increase capacity from 2 million tons to 10 million tons per year, reflecting strategic interest in the project.
Sources 2 interviews
Every interview 2
| Date | Channel | Interview | Statements |
|---|---|---|---|
| 07 Apr 2026 | Crux Investor | Canyon Resources (ASX:CAY) - World's Highest-Grade Bauxite Project Targets September Production | 20 |
| 09 Dec 2025 | Crux Investor | Canyon Resources (ASX:CAY) - Premium Cameroon Bauxite Mine Ships First Ore Mid-2026 | 22 |
What else those interviews covered
Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.
Questions people ask
What is Canyon Resources's project and where is it?
Canyon Resources is a developer bauxite company. Everything here is drawn from its executives' own interviews.
Which interviews mention Canyon Resources?
We track 2 interviews mentioning Canyon Resources, across 1 channel (Crux Investor).
What are investors saying about Canyon Resources?
No independent commentary is on record yet — so far the page carries only the company's own voice.
What do recent interviews with Canyon Resources cover?
The most-discussed topics on record are timeline, economics, the deposit, jurisdiction — each claim quoted and dated in the sections above.