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Carnaby Resources Ltd. ( (AU:CNB) ) has shared an announcement.
Carnaby Resources Ltd. has been awarded $386,000 in Collaborative Exploration Incentive grants from the Queensland government for its Greater Duchess Copper Gold Project. The funding will support a fully funded diamond drill hole at the Wimberu Prospect and a VTEM survey at the Magna Lynn Southern Corridor. These initiatives are expected to enhance exploration activities and potentially strengthen Carnaby’s position in the industry. The company is also progressing with the Trekelano acquisition and a Pre-Feasibility Study for the Greater Duchess project, indicating a strategic focus on expanding its resource base and advancing project development.
More about Carnaby Resources Ltd.
Carnaby Resources Ltd. is a company operating in the mining industry, focusing on copper and gold exploration. The company has a strong cash position and a tight capital structure, with significant projects such as the Greater Duchess Copper Gold Project in Queensland, which includes multiple Iron Oxide Copper Gold (IOCG) deposits. Carnaby is also engaged in a joint venture with Rio Tinto and has signed binding agreements with Glencore International AG.
YTD Price Performance: -32.35%
Average Trading Volume: 393,802
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$52.53M
For an in-depth examination of CNB stock, go to TipRanks’ Stock Analysis page.