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Carnaby Resources Ltd. ( (AU:CNB) ) has issued an announcement.
Carnaby Resources has delivered an updated JORC 2012 Mineral Resource Estimate for its Greater Duchess Copper Gold Project, lifting total resources to 29.2Mt at 1.5% copper equivalent for 440,500 tonnes of contained copper equivalent. The update includes a 49% increase in Indicated Mineral Resources, a 10% rise in overall resources, a maiden resource at the Mohawk discovery, and higher-confidence inventories at the key Trekelano and Mount Hope prospects, with most resources classified as fresh sulphide ore suitable for conventional flotation. The company reports that its pre-feasibility study on Greater Duchess is close to completion, feasibility work has already started based on third-party processing, and it is targeting a final investment decision in the second quarter of 2026 and first ore production in the second half of 2026, positioning Carnaby to leverage strong copper and gold prices while further upside remains from the high‑grade Trek 1 extension, which is yet to be incorporated into the resource base.
The most recent analyst rating on (AU:CNB) stock is a Hold with a A$0.54 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 (ASX: CNB) is an Australian mineral exploration and development company focused on copper and gold, with its flagship Greater Duchess Copper Gold Project located in the Mount Isa Inlier of Queensland. The company controls a large tenure package hosting multiple iron oxide copper gold (IOCG) deposits, including Mount Hope, Trekelano, Nil Desperandum and Lady Fanny, and is advancing these assets through pre-feasibility and feasibility studies underpinned by tolling and offtake agreements for third-party processing.
Average Trading Volume: 581,054
Technical Sentiment Signal: Buy
Current Market Cap: A$142.2M
For a thorough assessment of CNB stock, go to TipRanks’ Stock Analysis page.