Canyon invests further $5.6 million into Minim Martap bauxite project
2021-08-19 12:10:43 [Print]
Australian-based Canyon Recourses invests a further $5.6 million into its Minim Martap bauxite project after completing the first phase of its $6.2 million placement.
The company has announced it has raised more than $5.6 million from the issue of 70.48 million new shares.
Besides funding the feasibility study, Canyon Recourses have announced it will also use the proceeds to advance strategic projects and offtake discussions.
The Minim Martap project in central Cameroon has a resource of 1 billion tonnes grading 45.3% aluminium oxide and 2.7% silica dioxide that includes an ore reserve of 99Mt at 51.6% aluminium oxide and 2.4% silica dioxide.
The company has announced it has raised more than $5.6 million from the issue of 70.48 million new shares.
Besides funding the feasibility study, Canyon Recourses have announced it will also use the proceeds to advance strategic projects and offtake discussions.
The Minim Martap project in central Cameroon has a resource of 1 billion tonnes grading 45.3% aluminium oxide and 2.7% silica dioxide that includes an ore reserve of 99Mt at 51.6% aluminium oxide and 2.4% silica dioxide.
Alumina 98.5%min FOB Australia
Unit:USD/mt
China alumina producers' inventory statistics by province by month
Unit: mt
