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Canyon Resources Ltd (ASX:CAY)

ALERT: Price-sensitive ASX Announcement for CAY
Current share price for CAY : $0.046 -0.004 (-8%)+
Announcement
Release
26 Aug 2026 10:00AM
Price at Release
$0.050
Full Release
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Summary
The Takeovers Panel received an application concerning the affairs of Canyon Resources Limited due to a takeover bid by A2MP Investments FZCO. A2MP is part of a Dubai-based mining investment group with significant control over Canyon. The applicant, Jeremy Raper, who has a minor stake in Canyon, raised concerns about the validity and transparency of A2MP's bidder statement, suggesting it was misleading. The statement implied Canyon's financial instability in supporting its Minim Martap bauxite project in Cameroon. Furthermore, there was an issue with Canyon's credit facility being suspended by AFG Bank Cameroon, pending a project review. Raper seeks intervention to pause A2MP's actions and demands comprehensive disclosure to address possible ownership and voting irregularities involving key shareholders.
Key Points
  • The Panel received an application related to Canyon Resources Limited.
  • A2MP Investments FZCO launched a takeover bid for Canyon.
  • A2MP holds a significant voting power in Canyon.
  • Canyon's Minim Martap project is facing financial difficulties.
  • AFG Bank Cameroon suspended Canyon's credit facility drawdowns.
  • Jeremy Raper, holding a minor stake, claims A2MP's statements are misleading.
  • Raper seeks interim and final orders for corrective disclosures.
  • Concerns raised about non-disclosure of pivotal shareholders' dealings.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.