WE’RE READY!
Progress Report
May 2024
Wholly owned subsidiary of:
CAUTION REGARDING
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that reflect the current expectations of Camalco S.A. and its parent company Canyon Resources Ltd.
regarding future results, performance, events, or future developments. These forward-looking statements are often identified by the use of terms
such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "should," or variations of these terms, or by statements indicating
that certain actions, events, or results "may," "could," "would," "should," or "will" be taken, occur, or be achieved.
These forward-looking statements are based on certain assumptions and analyses made by the management of Camalco S.A. and its parent company
Canyon Resources Ltd. based on its experience and perception of historical trends, current conditions, and anticipated future developments, as well as
other factors considered appropriate in the circumstances. These statements are subject to a number of risks and uncertainties, many of which are
beyond the control of Camalco S.A. and its parent company Canyon Resources Ltd., which could cause actual results to differ materially from those
anticipated in the forward-looking statements.
Readers are cautioned not to place undue reliance on these forward-looking statements, which are only valid as of the date they are made. Camalco S.A.
and its parent company Canyon Resources Ltd. expressly disclaim any obligation or intention to update or revise any forward-looking statement publicly,
whether as a result of new information, future events, or otherwise, unless required by law.
Our Mining Agreement Was Signed on 22 January 2022
| We're just waiting on the presidential decree to kickstart the mine development process." §In 2018, Camalco S.A. was granted exploration permits forbauxite concessions in Minim Martap, Makan, and Ngaoundal located in the Adamaoua region. §Since
then, the company has successfully completed geologicalmapping,surveys and
sampling, data integration and interpretation,resources estimation and
feasibility studies.
§The
bankable feasibility study has confirmed the Project”s economic,financial,and
technical viability, which allowed the company to securenearly US$60 million in project financing. §Historical
significance lies in this being Cameroon's inaugural commercially operated
mine, setting a precedent to allure more foreign investment. |  |
An Investment of ∽US$300 Million
|
|
 | Eagle Eye Asset Holdings Pte. Ltd., operating under the brand name Fortuna Holdings SFO, is a private fund registered with the Monetary Authority of Singapore. Headquartered in Singapore, it also has offices in Dubai, United Arab Emirates. Eagle Eye's portfolio boasts substantial investments in gold, bauxite, and lithium mining exploration and operations across Australia, Cameroon, Colombia, Mozambique, Namibia, and Zimbabwe. This not only positions it as a crucial financial ally but also establishes Eagle Eye as a world-class technical partner upon which Camalco can rely on. Eagle Eye's portfolio extends to growing sectors within the United States, encompassing aviation, healthcare, and biotechnology investments. In addition, in collaboration with various global investment funds, it maintains stakes in enterprises operating within the realms of life sciences and advanced technologies. The promoters behind Eagle Eye also operate two prominent sister organisations. ARISE Integrated Industrial Platforms, created in 2010, specialises in identifying industrial gaps within African nations, orchestrating the design, financing, and operation of manufacturing ecosystems. Its mission is to facilitate the sustainable utilisation of local natural resources, thereby catalysing economic growth on a national scale. Africa Transformation and Industrialisation Fund, created in 2021, is headquartered in Abu Dhabi, United Arab Emirates, and is dedicated to actively engaging in Africa's industrialisation journey by spearheading the development of integrated and sustainable industrial ecosystems. Eagle Eye commands significant
influence over Canyon Resources and its subsidiary, Camalco, as it possesses around 40% of
Canyon Resources' outstanding shares |
 | 5,600
§1,400
direct jobs §4,200
indirect and induced jobs
§3,000
temporary jobs during construction |
Significant Economic Benefits for Cameroon §Payroll
& Benefits:--------------------------------------------- $61.3
M §Workforce
Training:-------------------------------------------- $1.2 M §Local
Procurement:------------------------------------------- $16.6 M §Taxes,
Duties & Other Payments to the State:---------- $58.0 M §Voluntary
Social Investments1:----------------------------- $0.4 M 1 Camalco will contribute to financing dynamic and transformative socio-community projects at a rate of US$0.06 per tonne exported. |  |
 | Exceptional
Bauxite Reserves §Location:------------------------ Cameroon,
Adamaoua region §Concession
Area:------------- 1000
km2 §Estimated
resources:-------- 1
billion tonnes §Confirmed
reserves:---------- 109
million tonnes §Quality:--------------------------- Exceptional
(51.1% AI2O3)
/ 2% SiO2) §Shipping-------------------------- Existing,
but improved, rail and port infrastructure |
| The development of the Minim Martap deposit will not lead to any displacement of population, as the Adamaoua region is thinly populated due to its infertile soil. Moreover, the mining concession is entirely uninhabited. Only a few groups of nomads cross the area seasonally in search of pastures for livestock grazing, which constitutes their main economic activity. |
Refinery Project Maximising the value derived from metals extracted within Cameroonian territory stands as a pivotal and justifiable goal embraced by Camalco. The company aims to enhance the ripple effects within the national value chain, focusing on both upstream supplier relationships and downstream resource transformation.
Additionally, Canyon Resources, Camalco's parent company, is exploring the prospect of constructing and managing an alumina refinery in Cameroon. To this end, ongoing discussions are being conducted with national authorities and potential technical and financial partners to establish the necessary conditions for realising this project. |  |
 | Camalco’s Commitment: Shared Prosperity §Generate
value for our shareholders. §Foster
prosperity among our domestic workforce through well-paying jobs. §Stimulate
local and national economic growth by prioritising local employment and
procurement. §Embrace our social responsibilities to the people and government of Cameroon, as well as to
humanity at large |
Jean-Sébastien Boutet Chief Executive Officer CANYON RESOURCES jsboutet@canyonresources.com.au
| Rana Singh Chief Executive Officer CAMALCO rpsingh@camalco.net Anshum Khandelwal Deputy
Chief Executive Officer CAMALCO
anshum@camalco.net |
