Canterbury Resources Advances Briggs Copper Project to Pre-Feasibility After Robust Study

Canterbury Resources Ltd. ( (AU:CBY) ) has issued an update.

Canterbury Resources has advanced its flagship Briggs copper project in Queensland with the completion of a Scoping Study evaluating a very large-scale, long-life open-pit operation producing copper concentrate, and has committed with its joint venture partner to a Pre-feasibility Study featuring infill drilling, detailed metallurgical test work, process optimisation studies and baseline environmental surveys. Strong assay results from two deep diamond drill holes at Briggs and plans for a major infill and extensional drilling campaign, alongside continued early-stage target evaluation at the Waits Creek and Ekuti Range projects in Papua New Guinea and the recent completion of a A$1.24 million share purchase plan, collectively underscore the company’s push to de-risk and grow its copper-focused asset base and position itself for potential future development decisions.

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

More about Canterbury Resources Ltd.

Canterbury Resources Limited is an ASX-listed mineral exploration company focused on large-scale copper and copper-gold projects, primarily in Australia and Papua New Guinea. Its portfolio includes the Briggs copper project in Queensland, as well as the Waits Creek and Ekuti Range projects in PNG, targeting porphyry and high-grade lode-style Cu-Au-Mo mineralisation for potential long-life mining operations.

Average Trading Volume: 929,448

Technical Sentiment Signal: Buy

Current Market Cap: A$10.52M

For detailed information about CBY stock, go to TipRanks’ Stock Analysis page.