~US$140M Credit Facility Secured for the Minim Martap Bauxite Project

Core Viewpoint - Canyon Resources Limited has secured a medium-term syndicated credit facility of approximately US$140 million from AFG Bank Cameroon to fund the development of its Minim Martap Bauxite Project in Cameroon, alongside additional funding from its major shareholder, Eagle Eye Asset Holdings [1][2][7]. Group 1: Credit Facility Details - The credit facility amounts to XAF 82,000,000,000 (approximately US$140 million) and is structured as a syndicated medium-term loan [11]. - The interest rate for the facility is fixed at 8.00% per annum plus VAT, with a repayment term of 8 years from the first drawdown [11]. - The drawdown is anticipated to occur in Q3 2025, with conditions including the opening of project accounts and guarantees from Canyon Resources Limited [3][11]. Group 2: Project Development - The funds from the credit facility will be utilized for acquiring locomotives, wagons, and developing rail and port infrastructure for the Minim Martap Bauxite Project [2]. - Since obtaining the Mining License in September 2024, Canyon has made significant progress, including securing key land for port and rail facilities, and is now focused on making a Final Investment Decision [5][6]. - The company aims to commence its first shipment of bauxite from Minim Martap in the first half of 2026 [5]. Group 3: Stakeholder Support - Eagle Eye Asset Holdings intends to exercise 350 million options for AU$24.5 million to further support the funding of Stage One operations at Minim Martap [2][7]. - AFG Bank Cameroon is recognized as a strong partner for Canyon, demonstrating expertise in structured financing and commitment to providing tailored financial solutions [4][7].