RT Brill (🐝) (@thenameisbrill)A project with $200M already raised,@AndreCronjeTech behind it, and a model designed to protect your downside?And here’s 1 billion reasons why you don’t want to skip this 🧵 https://t.co/6AjJd64bh2 ...

Core Viewpoint - Canyon Resources has secured a funding package of A$215 million ($140 million) to accelerate the development of its Minim Martap bauxite project in Cameroon, demonstrating strong institutional support and confidence in the project [1][4]. Funding Details - The funding consists of a two-tranche placement to raise A$205 million, along with an options exercise by major shareholder Eagle Eye Asset Holdings (EEA) to generate up to A$10 million [1]. - The first tranche aims to raise A$36 million from institutional, sophisticated, and professional investors [1]. - The second tranche includes a commitment from EEA to subscribe for A$100 million, pending shareholder approval, and Afriland Bourse & Investissement has pledged to invest up to A$70 million, subject to approvals [2]. Shareholding Structure - After the completion of the second tranche, EEA will hold a 56.5% shareholding in Canyon, while Afriland will have a 10.1% stake [2]. Share Offer Pricing - The offer price for the new shares is set at A$0.26, reflecting a 5.5% discount to the last closing price and a 9.6% discount to the five-day volume-weighted average price [3]. Project Development Plans - Canyon plans to allocate A$206 million for the development of the Minim Martap project, A$46 million for increased investment in Camrail, and A$14 million for general administration and corporate costs [3]. - Operations at the Minim Martap project are expected to commence in early 2026, with the first bauxite shipment anticipated in the first half of 2026 [4]. Project Significance - The Minim Martap project is expected to yield high-grade bauxite with low reactive silica, making it suitable for various alumina refinery technologies [5]. - The project is strategically located adjacent to the rail line connecting to the Atlantic port of Douala, enhancing its logistical advantages [4].

Project Overview - Jaguar Project aims to become the Western World's next major nickel sulphide mine [1] - The project boasts a Tier-1 scale Mineral Resource of 138.2 million tonnes containing 1.2 million tonnes of nickel [4, 9] - It also has a 52 million tonnes Ore Reserve containing 406,100 tonnes of nickel [4, 9] - The project is moving towards a Final Investment Decision (FID) in H1 2026 [7, 61] Financials and Operations - The project anticipates a Life-of-Mine (LOM) Post-Tax operating cash flow of US$2 billion (A$3.12 billion) [10] - It has a Post-Tax Net Present Value (NPV) of US$735 million (A$1.15 million) and a 34% Internal Rate of Return (IRR) [10] - The capital payback period is estimated at 1.8 years [10, 48] - The project targets an average nickel production of 22,600 tonnes per annum (tpa) in the first 7 years [9, 45] - The Life-of-Mine All-In Sustaining Cost (AISC) is projected to be US$4.43/lb Ni (payable basis) [4, 9, 19, 48] Environmental and Approvals - All key environmental approvals have been received, including EIA approval and Preliminary & Installation Licences (LP & LI) [6, 54] - The project has a low carbon footprint, with a forecast of 6.54 tonnes of CO2 per tonne of Nickel [9, 10, 56]