Canyon Resources Limited · ASX:CAY
Canyon Resources — Investor Presentation (September 2025)
39 slides from Canyon Resources's investor presentation, Sep 25, 2025
Slide 1: Developing a Global Tier One Bauxite Project
Developing a Global Tier One Bauxite Project September 2025
Slide 2: Disclaimer
Disclaimer The following notices and disclaimers apply to this presentation and you are therefore advised to read this carefully before Forward looking statements (Continued) reading or making any other use of this presentation or any information contained in this presentation. This presentation is
Slide 3: Disclaimer (Continued)
Disclaimer JORC Code Production Targets and Financial Forecasts derived from the Production Targets (Continued) It is a requirement for Canyon to report Exploration Results, Mineral Resources and Ore Reserves in compliance with the 2012 These include assumptions and risk factors about the availabili
Slide 4: No liability
Disclaimer No liability The information contained in this presentation has been prepared in good faith by Canyon. However, no guarantee, representation or warranty expressed or implied is or will be made by any person (such as Canyon and its affiliates, directors, officers, employees, associates, ad
Slide 5: The Next Major ASX-Listed Bauxite Producer
The Next Major ASX-Listed Bauxite Producer Canyon Resources is rapidly developing its Minim Martap Bauxite Project, located in Cameroon, into production in early 2026 Minim Martap is a tier-one bauxite asset, ranking among the world’s highest-grade deposits, with >1Bt of Resource including 144 Mt Re
Slide 6: DFS Results Confirm a Low-Cost, Long-Life Bauxite Operation
DFS Results Confirm a Low-Cost, Long-Life Bauxite Operation US$96M US$34.7/wmt US$835M 29% Stage 1 Capex C1 Costs LOM average NPV6 (pre-tax) IRR (pre-tax) US$10 - 15/t 144MT 51% 2% 51%/2% Price Ore Reserve Al2O3 % Silica % Premium to GBIX (Excluding Makan & Ngaoundal) US$174M/annum 1.2, 6.5, 10Mtpa
Slide 7: Minim Martap – MRE and Reserve Upgrade
Minim Martap – MRE and Reserve Upgrade Ore (DMT) Alumina (Al2O3) Silica (SiO2) Total Ore Reserves1 144.0 51.2% 1.7% Proved 133.3 51.2% 1.7% Probable 10.7 51.8% 1.7% Total Mineral Resources2 1,102 45.3% 2.7% Measured 394 46.8% 2.1% Indicated 502 44.7% 2.9% Inferred 206 44.0% 3.4% (1) Ore Reserves rep
Slide 8: Simple Pathway from Resource to Revenue
Simple Pathway from Resource to Revenue Mine & Site Infrastructure Existing Road and IRF Rail and Rolling Stock Port and Shipping • Low strip ratio • Upgrade existing road to 11m width • Order for locomotives and wagons • Existing facility with rail access • 10 MTPA DSO • 2 x village diversion place
Slide 9: Impressive Project Economics – CAPEX of US$96M to First Shipment
Impressive Project Economics – CAPEX of US$96M to First Shipment • Minim Martap has exceptional economics, based on its low CAPEX and existing infrastructure ANNUAL CASH FLOW IN REAL TERMS • Stage 1 CAPEX to first ore shipment of US$96M • AFG Bank Cameroon (AFG) debt facility of US$140M and existing
Slide 10: Bauxite Demand Predicted to Grow at >3.5% CAGR over next Decade
Bauxite Demand Predicted to Grow at >3.5% CAGR over next Decade (1) >51% MINIM MARTAP BAUXITE WILL COMMAND GROWING NEED FOR ALTERNATIVE RELIABLE, ~US$11/t PREMIUM OVER GBIX (2) LONG-TERM SUPPLY 5 YEAR GBIX PRICING ($US/T): Source: (1) www.emergenresearch.com/industry-report/bauxite-market (2) CM Gro
Slide 11: Long-Term Strategic and Supportive Shareholder with Proven African Mining Experience
Long-Term Strategic and Supportive Shareholder with Proven African Mining Experience $0.35 25,000,000 Volume Last Price A$0.265 $0.30 20,000,000 $0.25 $0.20 15,000,000 A$/Share $0.15 10,000,000 $0.10 5,000,000 $0.05 $0.00 0 June 2024 September 2024 December 2024 March 2025 June 2025 PROJECT SHAREHOL
Slide 12: Equity Raising Details
Equity Raising Details 12
Slide 13: Equity Raising Overview
Equity Raising Overview • An equity raising of approximately A$215 million comprising, a two-tranche placement to raise approximately A$205 million (“Placement”) and an options exercise to raise approximately A$10 million (“Options Exercise”) (together, the “Equity Raising”). • The Placement of appr
Slide 14: Sources and Uses of Funds
Sources and Uses of Funds Minim Martap Project Development CAPEX Sources of Funds1 A$m US$m • CAPEX beyond Stage 1 Equity Raising proceeds 215 140 • Rolling stock and rail corridor capacity works • Inland Rail Facility – post Stage 1 critical items Existing cash and cash equivalents2 51 33 • Douala
Slide 15: Pro Forma Capital Structure
Pro Forma Capital Structure Capital Structure1 Canyon – Current Canyon - Pro Forma2,3 A$ US$ A$ US$ Shares Issued (m) 1,785 1,785 2,712 2,712 Market Capitalisation ($m)3 $464 $302 $705 $458 Cash and Equivalents ($m) $51 $33 $266 $173 Credit facility (Drawn) ($m) $40 $26 $40 $26 Enterprise Value ($m)
Slide 16: Indicative Timetable
Indicative Timetable Event Date (2025)1 Trading halt lifted and announcement of Equity Raising Presentation and completion of Placement Thursday, 25 September Settlement of New Shares issued under Tranche 1 of the Placement Wednesday, 1 October Issue and commencement of trading of New Shares issued
Slide 17: Minim Martap Project
Minim Martap Project 17
Slide 18: Delivering on Fast-Track Production Strategy - Key Milestones Completed
Delivering on Fast-Track Production Strategy - Key Milestones Completed 2024 2025 2026 Mining Convention (July) Inland Rail Facility (IRF) (February) • Initial fleet of new locomotives and Mining Licence (September) Acquisition of 9.1% stake in Camrail wagons delivered (January) (March) • Fi
Slide 19: Impressive Project Economics
Impressive Project Economics1 Avg Avg Production Unit LOM Realised price First Prod Yr (20 year) (20 year) Mine Life Years 20 Shipping cost to China US$/dmt 17 17 Production dmt 144.0 7.2 GBIX price CIF China US$/dmt 76 67 Minim Martap price premium US$/dmt 12 11 Capital Minim Martap price CIF China
Slide 20: Operations – A High-Quality Bauxite Product
Operations – A High-Quality Bauxite Product • Staged ramp up from 1Mtpa to 10Mtpa of DSO product, as World Bank funded PQ2 rail upgrade is completed • Operations to commence at the Danielle Plateau and then transition to Beatrice and Raymonde • Throughout the Life of Mine (LoM), Canyon will maintain
Slide 21: Financing Secured for Stage 1 and Long-Lead Items Purchased
Financing Secured for Stage 1 and Long-Lead Items Purchased • Major site, port and rail development activities progressing to ensure production start timeline • 9.1% ownership in Camrail S.A, provides Camalco Cameroon SA a direct stake in rail infrastructure and a position on the Camrail Board. The
Slide 22: Inland Rail Facility Groundbreaking
Inland Rail Facility Groundbreaking • Groundbreaking ceremony commenced - construction of Inland Rail Facility (IRF) and upgrade of ore haulage access road • Ceremony attended by senior government members, community members, Canyon Executive Chairman Mr Mark Hohnen and cornerstone investor EEA • IRF
Slide 23: Strong ESG Principles to Deliver Long-Term Benefits
Strong ESG Principles to Deliver Long-Term Benefits CAMALCO IS DEDICATED TO DRIVING ECONOMIC GROWTH & REGIONAL DEVELOPMENT ACROSS OPERATIONAL AREAS, THROUGH COLLABORATION WITH LOCAL COMMUNITY & RELEVANT AUTHORITIES ENVIRONMENT SOCIAL GOVERNANCE Responsible environmental The local community strongly
Slide 24: Cameroon, a Supportive Mining Jurisdiction
Cameroon, a Supportive Mining Jurisdiction Project and Industry Support Key Cameroon Economic Statistics 20251 (in US$) • World Bank committed US$816M in financing to the Cameroon-Chad Transport Corridor (April Population 30M 2024)2 GDP $57.75B • Loan of ~US$359M from African Development Bank to imp
Slide 25: First Bauxite Shipment in 2026
First Bauxite Shipment in 2026 SIGNIFICANT EXISTING INFRASTRUCTURE AND PROJECT FINANCING ALLOWS A FAST-TRACK DEVELOPMENT PROGRAM TO START PRODUCTION IN EARLY 2026 2025 2026 2027 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Debt Financing Min
Slide 26: Bauxite Market
Bauxite Market 26
Slide 27: Chinese Dominance in Bauxite and Alumina Supply
Chinese Dominance in Bauxite and Alumina Supply SECURITY OF SUPPLY BECOMING A SIGNIFICANT FOCUS OF DOWNSTREAM PRODUCERS OUTSIDE OF CHINA Source: CRU Group, USGS Notes: (1) Metallurgical grade alumina (2) Guinea bauxite supply figures also comprise an insignificant share of Ghana and Sierra Leone sup
Slide 28: Looking Ahead
Looking Ahead 28
Slide 29: Minim Martap to Become the Next Major Global Bauxite Operation
Minim Martap to Become the Next Major Global Bauxite Operation Through the location of Minim Martap in Cameroon, Canyon is well-positioned to become a key supplier to key international bauxite markets • Globally significant bauxite India’s fast urbanisation and booming demographics will demand bauxi
Slide 30: Leading Team With +200 Years of Combined Industry Experience
Leading Team With +200 Years of Combined Industry Experience Management Board of Directors Peter Secker - Chief Executive Officer Mark Hohnen – Executive Chairman Over 40 years of project development experience including 20 years as Involved in the resources sector since late 1970s. Brings extensive
Slide 31: A Globally Significant, High-Grade, Long-Life Bauxite Operation
A Globally Significant, High-Grade, Long-Life Bauxite Operation WORLD-CLASS AND LONG-LIFE • Ore Reserve of 144Mt at 51.2% Al2O3 and 1.7% SiO2 + a JORC Mineral Resource BAUXITE PROJECT Estimate of 1,102Mt at 45.3% Al2O3 • Initially targeting high grade 53% Al2O3 and 1.6% SiO2 with very low strip rati
Slide 32: Thank you
Thank you Authorised for release by the Board of Canyon Resources Limited Peter Secker (CEO) info@canyonresouces.com.au Address Canyon Resources Limited 3 Richardson Street West Perth WA 6005 Postal Address Canyon Resources Limited 3 Richardson Street West Perth WA 6005 Registered Address Canyon Res
Slide 33: Appendix – Key risks (1/2)
Appendix – Key risks (1/2) Some of the key risks associated with an investment in the Company are summarised below. These risks and other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of the Shares in the future. Accordingly, an i
Slide 34: Appendix – Key risks (2/2)
Appendix – Key risks (2/2) Definitive Feasibility Study The Company's Definitive Feasibility Study (DFS) released on 1 September 2025 was based on a number of assumptions, estimates and projections, including geological and engineering estimates, which may prove to be inaccurate. The accuracy of any
Slide 35: International Offer Restrictions
International Offer Restrictions 35
Slide 36: International offer restrictions
International offer restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any
Slide 37: International offer restrictions
International offer restrictions Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commission in Hong Kong
Slide 38: International offer restrictions
International offer restrictions Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document or materials in co
Slide 39: International offer restrictions
International offer restrictions United States This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state
Canyon Resources — Investor Presentation (September 2025) on 6ix