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METALS & MINING | Precious Metals
canyonresources.com

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Founded Year

1979

Stage

Unattributed VC - III | Alive

Total Raised

$12.55M

Last Raised

$4.95M | 15 yrs ago

About Canyon Resources

Canyon Resources is a Metals & Mining/Precious Metals company based in Golden, Colorado. Canyon Resources' investors include Paramount BioCapital Asset Management, Hedgehog Capital, Cantara, Heller Capital Partners, Milfam and Iroquois Capital.

Canyon Resources Headquarter Location

14142 Denver West Parkway Suite 250

Golden, Colorado, 80401,

United States

303-278-8464

Latest Canyon Resources News

Canyon Resources : Appointment of CEO

Nov 15, 2021

10/26 11/15/2021 | 04:53pm EST Message : Highlights Canyon secures highly experienced metals and mining executive Jean-Sebastien Boutet as CEO to drive development of the Minim Martap Bauxite Project Mr Boutet is an accomplished leader and boasts a very strong background in bauxite project development, commodity marketing, operations, international negotiations, business & corporate development and international supply chain logistics Mr Boutet most recently held senior positions with Alufer Mining Limited and Alcoa Corporation and boasts extensive bauxite and alumina experience worldwide including West Africa, previously serving alongside the Guinea Mines Minister on the board of Compagnie Des Bauxites de Guinée (CBG) Managing Director, Phillip Gallagher to transition to an Executive Director role Canyon Resources Limited (ASX: CAY) ("Canyon" or the "Company") is pleased to announce that it has appointed Mr Jean-Sebastien Boutet as Chief Executive Officer (CEO). Mr Boutet is an experienced metals and mining executive, with more than 16 years in the bauxite and aluminium industry. Mr Boutet's official commencement date with the Company is 1 January 2022. The material terms and conditions of Mr Boutet's Executive Services Agreement are set out in the Annexure to this announcement. Mr Boutet has more than 6 years' experience working in West Africa, most recently as Chief Commercial Officer at Alufer Mining Limited, an independent bauxite mining company that discovered and developed the now operational Bel Air bauxite deposit. He was previously a member of the Board of Directors of Compagnie des Bauxite de Guinée (CBG) while working as Commercial and Market Development Director for Alcoa Corporation. With a background in business development, operations management and mine logistics, Mr Boutet has significant experience in securing key partnerships, developing and implementing marketing and commercial strategy, and ensuring key workstreams towards development are achieved on time and on budget. The appointment of Mr Boutet is well timed as the Company shifts its focus to the financing and development of the Minim Martap Bauxite Project, with key offtake and other commercial partnerships progressing. Mr Boutet will complement the existing and highly experienced team in Cameroon of Mr Rick Smith (CEO of Camalco Cameroon SA) and Mr Andre Henry (Director Port and Rail of Camalco Cameroon SA). Mr Boutet is bilingual in French and English and holds an Executive Master of Business Administration qualification from McGill and HEC Universities in Montreal, Canada. Canyon founder and Managing Director, Mr Phillip Gallagher, is currently in Cameroon conducting negotiations on the Mining Convention for the Project and intends to transition to an Executive Director role. Canyon Resources Limited ACN 140 087 261 L9/863 Hay street Perth WA 6000 | PO BOX 7606 Cloisters Square WA 6850 | p: +61 8 6382 3342 f: +61 8 9324 1502 | info@canyonresources.com.au | www.canyonresources.com.au Page 1 of 7 Appointment of CEO Mr Gallagher will transition Mr Boutet into the key CEO role and will continue to work closely with the established team to progress the Minim Martap Project into production. Mr Boutet commented: "I am thrilled and highly motivated to join Canyon Resources at such a pivotal time in the development of the Minim Martap Project. This project is most likely the highest-grade undeveloped bauxite deposit in the world. I am very excited to use my experience and to work with the team to deliver a world class bauxite mine into production in Cameroon creating value for all stakeholders." Canyon Non-Executive Chairman, Mr Cliff Lawrenson, commented: "We are delighted to have Jean- Sebastien join the Canyon team. He is an outstanding mining executive who is eager to put his experience and connections to work. This is a natural progression as Canyon evolves from exploration and the permitting phase of the Minim Martap Project to the construction and operations phase. We now have a team of experienced West African bauxite operational and business development executives, and we are well positioned to bring the world's highest-gradebauxite mine into production. "Phil Gallagher, who has accumulated a wealth of experience and a deep network in Cameroon, will remain with the Company as an Executive Director to transition the CEO role and to support the next phase of development. Phil has done a tremendous job in progressing the Minim Martap Project over the past few years, often in trying circumstances, and we are most appreciative of his drive and contribution in this regard. His continued contribution to the Project leveraging from his established and sound relationships with senior members of the Cameroon government, with added support from our new CEO, will underpin the success of the Minim Martap Project." Canyon Resources Limited For personal use only Base Salary The Company will pay an annual base salary of $400,000 (inclusive of any other benefits or emoluments). Cash Incentives If the Company commences commercial production from the Minim Martap Project, the Executive will be entitled to participate in any cash based short-term incentive scheme the Company may implement. Termination and Notice Either the Company or the Executive may terminate the employment by giving the other 6 months' written notice. Security Based Incentives The Executive shall be entitled to participate in a Long-Term Incentive Plan via the issue of Performance Rights as follows: Shares for Vesting Milestones Summary Canyon Resources is focussed on the development of the 100% owned Minim-Martap Bauxite Project, a direct shipping ore (DSO) project development opportunity in central Cameroon. The Project is situated adjacent to the main rail line linking the region to the Atlantic port of Douala. The rail line is currently underutilised and coupled with the existing port of Douala, supports a low capex, low opex solution to deliver high grade, low contaminant, seaborne bauxite to market to fuel the large and growing aluminium industry as described in the 2020 Pre-FeasibilityStudy. The country is planning a rail extension and is undergoing rail line debottlenecking upgrades, giving longer term potential for export through the newly built, deep-waterport of Kribi. Canyon is planning the development of the bauxite Project in a 2 Stage, 2 Port execution programme with initial production exported though the port of Douala utilising the existing rail and port infrastructure and Stage 2 unlocking tonnes and reducing costs by utilising the planned rail extension to access the deep-waterport of Kribi. Resources and Reserves The Project is validated by the Ore Reserve estimate, (ASX announcement 25 May 2021), prepared by a Competent Person, in accordance with the JORC Code (2012) and is presented as: Reserve

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Canyon Resources Patents

Canyon Resources has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/17/2008

4/17/2012

Medical equipment, Wireless networking, Instrument amplifiers, Computing input devices, Fender amplifiers

Grant

Application Date

11/17/2008

Grant Date

4/17/2012

Title

Related Topics

Medical equipment, Wireless networking, Instrument amplifiers, Computing input devices, Fender amplifiers

Status

Grant

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