Carnaby Advances Greater Duchess Project with Robust PFS and Strong Drill Results

Carnaby Resources Ltd. ( (AU:CNB) ) has issued an announcement.

Carnaby Resources reported strong progress at its Greater Duchess Copper Gold Project, highlighted by a pre-feasibility study outlining a 12-year mine life targeting 9.3 million tonnes at 1.9% copper equivalent and total recovered metal of about 165,000 tonnes copper equivalent. The study indicates robust economics, including high pre-tax NPV, strong EBITDA, rapid payback and low pre-production capital costs, underpinned by toll milling and offtake arrangements with Glencore.

The company plans to complete a feasibility study by mid-2026, targeting a final investment decision and first ore production in the second half of 2026, while also advancing a potential stand-alone concentrator option. Recent drilling at the Trekelano prospects delivered some of the best copper-gold intercepts to date, and with all major deposits remaining open at depth, Carnaby is positioning Greater Duchess as a significant emerging copper-gold operation, supported by a $13 million cash balance and a growing development team.

The most recent analyst rating on (AU:CNB) stock is a Buy with a A$0.95 price target. To see the full list of analyst forecasts on Carnaby Resources Ltd. stock, see the AU:CNB Stock Forecast page.

More about Carnaby Resources Ltd.

Carnaby Resources Ltd. is an Australian mineral exploration and development company focused on copper and gold, with its flagship Greater Duchess Copper Gold Project in the Mount Isa inlier of Queensland. The company controls a large Iron Oxide Copper Gold (IOCG) camp with multiple deposits, supported by a tight capital structure, strong cash position and tolling and offtake agreements with Glencore.

Average Trading Volume: 789,951

Technical Sentiment Signal: Buy

Current Market Cap: A$143.6M

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