Canyon Resources receives $24.5 million capital injection from major shareholder Eagle Eye Asset Holdings Pte Ltd

From GlobeNewswire: 2025-05-20 22:43:00

Canyon Resources Limited has received an option exercise notice from its major shareholder, Eagle Eye Asset Holdings Pte Ltd, to exercise 350 million options for $24.5 million. This will result in the issuance of 350 million fully paid ordinary shares to Eagle Eye, increasing their total holding in Canyon to 54.7%. The exercise of options was conditional on the granting of the Mining Licence for the Minim Martap Bauxite Project, which was satisfied on April 28, 2025. The funds received will be used to strengthen Canyon’s balance sheet and support the development of the Minim Martap Project. The company remains optimistic about achieving first bauxite shipment in 2026 and unlocking significant value for shareholders.



Read more at GlobeNewswire: Canyon to Receive Significant Capital Injection to Support