
February 25, 2025
CanyonContinuesRapidAdvancementTowardProduction
Canyon Resources Limited (ASX: CAY) (‘Canyon’ or the ‘Company’) is pleased to provide an update on key development workstreams at the Company’s flagship Minim Martap Bauxite Project (‘Minim Martap’ or ‘the Project’), located in Cameroon, as the Company continues to make rapid progress toward production.
Minim Martap ranks among the world’s richest bauxite deposits, underpinned by an Ore Reserve of 109Mt at 51.1% total Al2O3 and 2.0% total SiO2 and a JORC Mineral Resource Estimate of 1,027Mt at 45.3% total Al2O3 and 2.7% total SiO2
The Definitive Feasibility Study (DFS) remains on schedule for completion in Q3 2025, with a focus on optimising operational efficiencies, ensuring sustainable economics and confirming the preferred pathway to production. The Company remains confident that the DFS will reinforce the viability of Minim Martap as a world-class bauxite project. Concurrently, discussions with select debt providers are progressing positively, as Canyon seeks to secure an optimal funding structure in alignment with strategic objectives and results from the DFS.
As part of the DFS, Canyon is currently evaluating the implementation of a two-stage development strategy, aimed at accelerating production through a phased ramp-up to enable a first bauxite shipment in 2026. This approach would enable earlier revenue generation, strengthen supply chain relationships and strategically position Minim Martap for future growth as rail capacity expands. In addition to this process, Canyon has engaged several internationally recognised consultants to refine and optimise the existing rail infrastructure required for the transport of the bauxite ore. Detailed assessments are now underway to enhance logistical efficiency and explore capacity expansion strategies that will support long-term operational growth.
As part of project execution planning, Canyon is working with leading mining equipment vendors to define procurement schedules and delivery timelines, ensuring timely access to critical mining equipment, which will be essential for meeting targeted production timelines and targets and maintaining operational efficiency. The Company remains focused on aligning equipment availability with its potential staged development strategy to support seamless project execution.
Discussions with potential offtake partners are advancing well, with negotiations reflecting strong market interest in Minim Martap’s high-quality bauxite product and supporting the Company’s efforts to secure long- term sales agreements. Establishing these strategic partnerships is a key step in de-risking the Project, working through the relevant financing discussions and ensuring an efficient pathway towards commencement of operations.
Bauxite market fundamentals and pricing has strengthened over the past 12 months, with the CIF China price for 45% Al203 and 3% total SiO2 ex Guinea reported to be approximately $US 100/DMT in February 2025. The product from Minim Martap with a proved or reserve grade 51.1% total Al203 and total SiO2 should achieve a considerable premium price compared to a 45% Al2O3 and SiO2 bauxite product.
Lastly, Canyon continues to focus on building out its project team and management team to ensure the Company is well-positioned during the next phase of development growth, as Canyon works toward becoming a near-term bauxite producer.
Mr Jean-Sebastien Boutet, Canyon Chief Executive Officer commented:“Progress at our world-class Minim Martap Project continues as planned, reinforcing our confidence in our timeline towards production. Notably, the analysis of a potential two-staged development strategy has been particularly promising, offering the opportunity for fast-tracked production and revenue generation, while strategically positioning the Company to capitalise on expanding rail capacity and the establishment of key supply chain relationships.
"Our team remains committed to transforming the Minim Martap Bauxite Project into a world-class operation that delivers sustainable, long-term value for shareholders and stakeholders alike. We will continue to provide timely updates as we achieve key milestones and advance toward production.”
Click here for the full ASX Release
This article includes content from Canyon Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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12h
Strategic US Antimony Acquisition, Coyote Creek
EV Resources Limited (ASX:EVR) (“EVR” or “the Company”) has reached agreement with a resources private investor based in the USA, for the acquisition of 49 unpatented claims (“The Claims”) over the Coyote Creek Antimony Project.
Highlights:
- EVR has reached agreement with a private US Investor to acquire 49 unpatented claims over the Coyote Creek Antimony Project in Utah, USA.
- The claims cover both old workings and waste from historical antimony mining up to the 1920’s.
- A historical non JORC resource estimate of 12.7 million metric tons grading 0.79% Antimony was estimated by the Utah Geological and Mineral Survey in 1975.
- The historical estimate above is not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources or ore reserves in accordance with the JORC Code, and it is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.
- The USA currently has no operating antimony mine and imports all its antimony concentrates.1
The USA imports all of its antimony concentrates at present1 and the Coyote Creek Project appears to have the potential to become a domestic supplier of antimony at a time of well documented supply shortages.
This acquisition follows EVR’s recent announcement of the proposed acquisition of 70% of Los Lirios, an open pit antimony mine in Oaxaca state Mexico. The Coyote Creek Project fits with EVR’s preference to develop an Americas antimony division based upon open pit mining opportunities. (See ASX announcement “Acquisition of Los Lirios Antimony Mine (EVR 70%) Mexico” dated 28th January 2025).
Background to Coyote Creek Antimony Project
The demand for raw materials for the defense effort during the 2nd World War prompted a review of the Coyote Creek Project, and field work including trenching was conducted between November 1941 and February 1942.
Location
The Coyote Creek claims are located in Garfield County, Utah, 11km east of the town named Antimony. The Canyon in which it is located is referred to variously as Coyote Creek Canyon or Antimony Canyon. Access to the project is via paved roads and then unpaved forestry roads navigable with a low clearance vehicle.
Map 1 Location of the Project
Map 2 Claims at Coyote Creek
Click here for the full ASX Release
This article includes content from Ev Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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13h
IP Surveys to Commence at Birdsnest & Epithermal Prospects
Peregrine Gold Limited (“Peregrine” or the “Company”) (ASX: PGD) is pleased to announce a Gradient Array Induced Polarisation (GAIP) survey will commence at the Birdsnest and Epithermal gold and base metals prospects located within the Company’s 100% owned Newman Gold Project (Figure 1).
HIGHLIGHTS
- Gradient Array Induced Polarisation survey to commence at the Birdsnest & Epithermal prospects located within the 100% owned Newman Gold Project
- Additional Dipole-Dipole Induced Polarisation survey to follow in order to refine geophysical targets for subsequent drill testing
Figure 1: Location of the Birdsnest and Epithermal Prospects within the Newman Gold Project.
The Birdsnest and Epithermal Prospects are situated proximal to the bounding contact of the Sylvania Inlier and north of the Nanjilgardy Fault, both of which are highly prospective zones for gold mineralisation (Figure 2). The GAIP survey data is expected to provide useful layers of geophysical information to assist Peregrine’s interpretation of sub-surface geology and structure, provide feedback for further drill targeting of existing gold and base metal mineralised trends and potentially identify new target zones in other parts of the prospect areas.
Figure 2: Newman Gold Project relative to regional geological structures and neighbouring tenements.
The GAIP surveys will produce plan view maps of Induced Polarisation (IP) chargeability and resistivity anomalies relating to potential sulphide minerals associated with gold and/or base metal mineralisation within approximately 100m from surface within the GAIP survey grid areas. The planned GAIP survey grid areas are both 1.2km long (NW-SE) by 900m wide (NE- SW) (Figure 3).
Figure 3: Planned IP Survey area of Birdsnest & Epithermal Prospects (E52/3850).
The GAIP transmitter electrodes and receiver survey lines will be oriented NE-SW across the grid areas, which is perpendicular to the general geological strike. IP receiver lines will be spaced 100m apart, with receiver electrodes spaced 50m apart along the IP receiver survey lines.
Pending GAIP survey results, follow-up Dipole-Dipole IP (DDIP) surveying across priority GAIP anomalies identified at these prospects may be considered in order to produce cross section images of IP chargeability and resistivity to a maximum depth from surface of approximately 350m along the DDIP survey lines, which will provide feedback on the depth and orientation of the GAIP anomaly sources and thereby allow more accurate drill targeting of IP anomalies in the future.
The Company has engaged experienced IP contractor Khumsup Geophysics to undertake the surveys in early April and are scheduled to take between 2 to 3 weeks to complete with final reporting to be released in May. Subject to these results, the Company will immediately commence drill planning activities.
Geophysical consultants from Resource Potentials Pty Ltd have assisted with the IP survey planning and will QC the survey data, provide preliminary updates during the survey period and then process, interpret and model the final IP survey data, as well as assist with follow-up exploration planning as needed.
Click here for the full ASX Release
This article includes content from Peregrine Gold Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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13h
Drilling contract awarded for drilling at Kada
Asara Resources Limited (ASX: AS1; Asara or Company) is pleased to announce that it has awarded the drilling contract for the upcoming drilling program at the Kada Gold Project in Guinea (Kada) to Capital Drilling Guinea-SA, a subsidiary of Capital Limited (LSE: CAPD) (Capital).
HIGHLIGHTS
- Contract awarded for up to 22,000m of Reverse Circulation and 4,000m of Diamond Core Drilling, planned to be completed before the end of 2025.
- Drill program aiming to increase geological knowledge at Massan and Bereko and to explore strike and dip extensions of the current Mineral Resource Estimate.
CEO, Matthew Sharples commented:
“We are excited to award this drilling contract to Capital. Capital is a leading provider of drilling services with significant experience both in Guinea and at the Kada Project. This marks a significant milestone in our ramping up of exploration activity at Kada. The drill program has been designed to increase geological knowledge of the Massan deposit as well as explore the strike and dip extensions of both the current Massan and Bereko Mineral Resources.”
KADA GOLD PROJECT
Exploration Activities
Preparation for the 2025 drilling campaign has commenced with drill planning being completed in conjunction with Micon International, a leading UK-based mining consultancy. It is envisaged that the drilling campaign will be comprised of approximately 22,000m of reverse circulation drilling and 4,000m of diamond core drilling. The campaign has been designed to meet two distinct objectives: to infill the existing drilling at Massan, increase geological confidence, and explore down-dip and along- strike extensions to the known mineralized structures.
Consultation with local communities was undertaken during the drill planning phase regarding the proposed bridging of two minor waterways to allow year-round access throughout the permits that comprise the Kada project. The construction of these bridges will benefit the local communities as well as the Company, and the Company was pleased to be able to collaborate with the local community on this project.
The Company looks forwarding to updating shareholders as exploration activities progress at Kada.
Click here for the full ASX Release
This article includes content from Asara Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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27 March
Trump’s Auto Tariffs Ignite Global Trade Tensions and Market Uncertainty
The global auto industry was thrown into turmoil on Wednesday (March 26) as US President Donald Trump announced sweeping 25 percent tariffs on imported vehicles and auto parts.
The tariffs, set to take effect in early April, mark a significant escalation in Trump’s ongoing trade war and are expected to raise car prices, disrupt supply chains and provoke retaliatory measures from key US allies.
The White House is framing the measure as a strategy to boost domestic manufacturing and address what Trump has called an unfair reliance on foreign production. However, the tariffs apply not only to foreign automakers, but also to American brands, which rely heavily on imported parts and assemble many of their vehicles outside the US.
Carmakers take share price hits
The announcement sent shockwaves through global stock markets, particularly in the automotive sector.
Shares of major automakers in Japan, South Korea and Europe plummeted, with Toyota Motor (NYSE:TM,TSE:7203) and Mazda Motor (TSE:7261) leading declines in Tokyo. South Korean carmakers Hyundai Motor (KRX:005380) and Kia (KRX:000270) also took heavy losses, while auto parts suppliers in India and Germany saw sharp drops.
US automakers were not spared — shares of General Motors (NYSE:GM) tumbled nearly 7 percent, while Ford Motor (NYSE:F) and Stellantis (NYSE:STLA) each fell more than 4 percent in after-hours trading on Wednesday.
Tesla's (NASDAQ:TSLA) share price, however, saw a slight increase, despite a warning from CEO Elon Musk that the tariffs will still have a "significant" impact on his company.
Beyond the stock market reaction, industry analysts predict the tariffs could add thousands of dollars to the cost of vehicles, further straining American consumers already facing high inflation. The tariffs are expected to increase vehicle prices, with estimates suggesting an average rise of US$4,400 per new car.
The Center for Automotive Research previously projected that such tariffs could lead to a reduction of approximately 2 million in US new vehicle sales and result in the loss of nearly 714,700 jobs.
"The tariffs imposed today will make it more expensive to produce and sell cars in the United States, ultimately leading to higher prices, fewer options for consumers, and fewer manufacturing jobs in the US," said Jennifer Safavian, president and CEO of Autos Drive America, in a recent statement.
International backlash and retaliation threats
Key US allies, including Canada, Japan, South Korea and the European Union, swiftly condemned the move from the Trump administration and signaled potential retaliatory actions.
European Commission President Ursula von der Leyen described the tariffs as "bad for businesses, worse for consumers," while Canadian Prime Minister Mark Carney called them a "direct attack" on Canadian workers.
"We will defend our workers, we will defend our companies, we will defend our country and we will defend it together," Carney stated. He has also said Canada's old relationship with the US is "over."
Japanese Prime Minister Shigeru Ishiba said Tokyo is considering "all options" in response to the new tariffs, and South Korea announced plans to implement an emergency response for its auto industry by early April.
Brazilian President Luiz Inácio Lula da Silva also criticized the move, warning that it could lead to inflation in the US and damage global economic stability. "Protectionism doesn’t help any country in the world," Lula said at a press conference in Tokyo, vowing to file a complaint with the World Trade Organization.
Trump, however, has remained defiant.
In an Oval Office statement, he defended the tariffs as a necessary step to curb what he described as foreign nations "taking our jobs, taking our wealth, taking a lot of the things that they’ve been taking over the years."
He warned that if Canada and the EU retaliate, the US will respond with even "larger-scale tariffs."
In a post on Truth Social, Trump stated, "If the European Union works with Canada in order to do economic harm to the USA, large-scale tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had."
Auto industry divided on tariffs
While many automakers and trade groups have voiced opposition to the new tariffs, the United Auto Workers (UAW) union, an American union with over 400,000 active members, has applauded the move.
"These tariffs are a major step in the right direction for autoworkers and blue-collar communities across the country, and it is now on the automakers, from the Big Three to Volkswagen and beyond, to bring back good union jobs to the U.S.," UAW President Shawn Fain said in a statement released on Wednesday.
Some foreign automakers have already announced plans to expand their US operations in an attempt to mitigate the impact of the tariffs. For example, Hyundai recently pledged to invest US$21 billion in the US over the next four years, including a new steel production facility in Louisiana.
Mercedes-Benz Group (OTC Pink:MBGAF,ETR:MBG) has indicated it will expand operations in Alabama, though it remains unclear how significantly these moves will offset the broader economic impact.
What comes next?
Trump’s auto tariff decision is the latest in a string of aggressive trade measures since his return to office.
Earlier this year, he announced tariffs on Canada and Mexico over their alleged roles in allowing fentanyl into the US; in addition to that, Trump has imposed new duties on Chinese imports, and has hinted at an upcoming reciprocal tariff policy that would match the import taxes of other countries.
Trade officials around the world are preparing potential countermeasures. The European Union is reportedly considering tariffs on US agricultural exports, while Canada is exploring retaliatory duties on American goods.
The move also raises questions about Trump’s long-term economic strategy.
While his administration argues that tariffs will encourage companies to bring production back to the US, many economists believe the costs will ultimately be passed on to American consumers and businesses.
For now, the global auto industry is bracing for uncertainty, with markets watching closely for further retaliatory measures and potential negotiations to mitigate the immediate impact of the tariffs.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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27 March
Ignite Investment Summit Hong Kong Presentation
Battery Age Minerals Ltd (ASX: BM8; “Battery Age” or “the Company”) is pleased to advise of its participation at the Ignite Investment Summit being held this week in Hong Kong.
BM8’s Chief Executive Officer, Mr Nigel Broomham, will be presenting the Company’s strategy for progressing its diversified & strategic portfolio of projects in Austria, Argentina and Canada today at 11.00am AWST. Attached is the presentation that Mr Broomham will be speaking to at the conference.
Investors can register to attend the conference at: weareignite.com/contact/#investor
Battery Age CEO Nigel Broomham commented:
"Fresh from recent field visits to Austria and Argentina, and following positive advancements across our Bleiberg, El Aguila, and Falcon Lake projects, we look forward to presenting a number of updates and meaningful insights to a fantastic group of investors and stakeholders.”
Click here for the full ASX Release
This article includes content from Battery Age Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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26 March
Terms of Reference for Enviromental Study Provided for Mannar Heavy Mineral Project
Titanium Sands Limited (“TSL”) is pleased to announce the progression of the approval processes for its Mannar Heavy Mineral Project in Sri Lanka, following the release by the CEA of the Terms of Reference for the Mannar Island Environmental Impact Assessment (EIA).
- Central Environment Authority (CEA) has provided the Terms of Reference (ToR) for the environmental assessment of the Mannar Heavy Mineral Project following site visits and input from 35 regulatory bodies and government departments
- The ToR contains the requirements for the environmental studies for an Environmental Impact Assessment (EIA)
- On completion of the EIA, the Geological Survey and Mines Bureau (GSMB) will then be in a position to issue an Industrial Mining License (IML) for the Project
- The ToR outlines environmental, heritage, social and economic requirements necessary for GSMB approval of the IML
- TSL is focused on delivering economic benefits to the people of Mannar, through job creation and generational wealth, while preserving cultural heritage and protecting the environment
The release of the ToR on 20 March 2025 followed a series of CEA meetings and presentations, culminating in the Scoping Presentation on 22 August 2024 and the Scoping Site Visit on 19 February 2025 by stakeholders in the Project. Submissions made by stakeholders at both the scoping meetings have been included in the ToR which forms the basis of the requirements of the EIA.
TSL’s Managing Director, Dr James Searle said“the release of the ToR is a significant step forward in the regulatory approvals process for this Project. The Project will deliver a high-grade mineral sands operation that will create significant employment opportunities and become a source of wealth for local communities, as well as a significant boost in revenues to the Government of Sri Lanka.
TSL is focused on delivering a low impact environmentally friendly project, with the highest levels of social awareness and inclusion. As heavy minerals have been mined for decades on the Sri Lankan mainland, TSL looks forward to building on the size and quality of the industry making a significant impact to the economic benefits of Sri Lanka”.
Next Steps
ToR
The ToR has been prepared on input from 35 departments and regulatory bodies within Sri Lanka’s Government. TSL’s EIA consultants will be required to address the following as outlined in the ToR:
- Overview of the proposed project and reasonable alternatives
- Report on existing environment and surrounds
- Report on anticipated environmental impacts
- Prepare an Environmental Management Plan (EMP) and monitoring program
- Assess all aspects of nature and wildlife restrictions
- Host community consultation and engagement.
The ToR also requires a report on any areas beyond the project site where there is potential for environmental impacts.
Environmental Impact Assessment
The EIA process will commence immediately. The EIA consultants will now be in a position to prepare a draft EIA to address the requirements of the ToR. The EIA will address baseline and impact assessments, mitigation measures and proposed strategies and management plans culminating in an efficient and environmentally successful project. The final EIA submission for GSMB review and approval is expected mid 2025, with support from government agencies and community groups.
As part of the EIA process, community consultation and comment will be undertaken with Mannar communities ensuring any other issues or concerns are addressed in the EIA.
Recent meetings with all of CEA, GSMB and Board of Investment (BoI) in Sri Lanka have led to the understanding that on completion of the EIA, formal IML approval would be granted in a timely manner.
Click here for the full ASX Release
This article includes content from Titanium Sands Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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