Canyon Resources (CAY) H1 2026 earnings summary

Executive summary

• Focused on development of the Minim Martap Bauxite Project in Cameroon, transitioning from exploration to mine development after the project was deemed commercially viable and technically feasible on 1 September 2025.

• Loss after income tax for the half-year ended 31 December 2025 was $5,458,170, an improvement from $7,535,406 in the prior corresponding period.

• Major management changes included the appointment of a new CEO and a new Non-Executive Director.

Financial highlights

• Revenue (interest received) was $373,388 for the half-year, up from $336,887 year-over-year.

• Net loss after tax improved to $5,458,170 from $7,535,406 year-over-year.

• Basic and diluted loss per share reduced to 0.29 cents from 0.54 cents year-over-year.

• Cash and cash equivalents at 31 December 2025 were $85,818,735, up from $15,553,285 at 31 December 2024.

• Total assets increased to $164,148,472 from $51,559,623 at 30 June 2025.

Outlook and guidance

• Stage 1 of Minim Martap Development continues to be funded by the undrawn portion of the US$140 million credit facility.

• Project development is underpinned by a pre-tax NPV6 of US$835 million and pre-tax IRR of 29%, with a 20-year mine life.