Cannindah boosts cash and drills high-grade hits despite wider loss

An update from Cannindah Resources Limited ( (AU:CAE) ) is now available.

Cannindah Resources reported a half-year loss of $1.26 million to 31 December 2025, wider than the prior period, but significantly strengthened its balance sheet with $4.55 million raised via an entitlement offer, lifting cash to $1.64 million. Board changes during the period saw Cameron Switzer appointed managing director and Anthony Rovira become chairman following the resignations of former chair Michael Hansel and former managing director Tom Pickett.

Operationally, the company advanced exploration at its Queensland projects, identifying potential extensions to the Cannindah Breccia Mineral Resource and a new pencil porphyry system at the Southern Target’s Appletree Prospect, where trenching and drilling returned high-grade copper-gold intersections. Completion of a 6,136-metre scout RC drilling program significantly upgraded the Cannindah Breccia and highlighted the Southern Target as potentially transformational, underscoring the project’s upside despite current losses and ongoing exploration risk for investors.

The most recent analyst rating on (AU:CAE) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Cannindah Resources Limited stock, see the AU:CAE Stock Forecast page.

More about Cannindah Resources Limited

Cannindah Resources Limited is an Australian mineral exploration company focused on projects in Queensland. The group targets copper and gold mineralisation, with its key asset being the Cannindah project area, where it is advancing breccia-hosted and porphyry-style deposits that could enhance its position in the base and precious metals exploration sector.

Average Trading Volume: 1,952,318

Technical Sentiment Signal: Sell

Current Market Cap: A$55.12M

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