Canyon Resources Limited has laid out significant steps to advance its Minim Martap Bauxite Project in Cameroon toward production in early 2026. The company secured a medium-term syndicated credit facility of approximately US$140 million from AFG Bank Cameroon and received an option exercise of A$15.8 million from Eagle Eye Asset Holdings Pte Ltd. These funds have enabled the purchase of key long lead items and the appointment of essential contractors, setting the stage for stage one operations at the project. Among the major developments, Canyon Resources Limited has placed an order for 22 locomotives with CRRC Ziyang Co. Ltd, with the first deliveries expected in Q1 2026. The company has also appointed contractors for both road upgrades and mining and ore haulage operations. Additionally, the groundbreaking for an Inland Rail Facility, positioned near Ngaoundal and close to the existing Makor Railway Station, is expected to commence in July 2025. This facility will serve as a critical transit point for bauxite ore from the mine to the Port of Douala, ensuring a robust logistics chain for the first bauxite shipment planned in the first half of 2026. Canyon further anticipates updating its JORC-compliant Mineral Resource and Mineral Reserve estimates by the end of July 2025, reinforcing its technical foundation for the project. Executive Chairman Mark Hohnen expressed confidence in the company’s rapid progress since receiving its Mining Licence in late 2024. He highlighted the crucial support from Eagle Eye Asset Holdings and emphasized the well-timed execution of major workstreams that include finalizing a comprehensive Definitive Feasibility Study aimed at a two-stage ramp-up strategy. The announcement underscores the company’s commitment to establishing itself as a reliable supplier of high-quality bauxite ore in a market with increasing demand. The outlook on this development displays a mix of bullish and bearish sentiment. From a bullish perspective, the secured funding, strategic contractor appointments, and firm production timelines signal robust project execution and growing infrastructure investments, which could position Canyon Resources Limited advantageously for market expansion and long-term supply stability. However, bearish considerations remain, as the forward-looking nature of the commitments and the potential risks inherent in large-scale project logistics and commodity market volatility could challenge the smooth realization of these ambitious milestones.