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Carnaby Resources Ltd. ( (AU:CNB) ) has shared an announcement.
Carnaby Resources Ltd. has completed the acquisition of the Trekelano Mining Leases from Chinova Resources Osborne Pty Ltd, allowing the company to commence exploration drilling at the site. This acquisition is integrated into the Greater Duchess Pre-Feasibility Study, with key drilling already completed, enhancing Carnaby’s position in the copper and gold mining sector. The transaction involved a total cash consideration of $8.7 million and a $1.3 million environmental bond with Queensland Treasury.
The most recent analyst rating on (AU:CNB) stock is a Buy with a A$1.45 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 a mining company focused on the exploration and development of copper and gold projects. The company operates the Greater Duchess Copper Gold Project, which includes several Iron Oxide Copper Gold deposits in Queensland. Carnaby Resources is known for its experienced management team, strong cash position, and strategic partnerships, including agreements with Glencore International AG.
Average Trading Volume: 347,918
Technical Sentiment Signal: Sell
Current Market Cap: A$77.65M
For a thorough assessment of CNB stock, go to TipRanks’ Stock Analysis page.