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The latest update is out from Carnaby Resources Ltd. ( (AU:CNB) ).
Carnaby Resources Ltd. has secured a A$12.5 million investment from the QIC Critical Minerals and Battery Technology Fund to advance its Greater Duchess Copper Gold Project in Queensland. The funds will primarily support the completion of a Pre-Feasibility Study by the second half of 2025, followed by a Definitive Feasibility Study in 2026, with a Final Investment Decision targeted for the third quarter of 2026. This investment underscores the project’s potential and its significance to the Mt Isa region, positioning Carnaby well for future development and growth in the critical minerals sector.
The most recent analyst rating on (AU:CNB) stock is a Buy with a A$0.87 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 company operating in the mining industry, focusing on the exploration and development of copper and gold projects. The company is advancing its Greater Duchess Copper Gold Project, which includes several iron oxide copper gold deposits in Queensland, Australia. Carnaby is known for its strong management team, tight capital structure, and strategic partnerships, including agreements with Glencore International AG.
Average Trading Volume: 805,440
Technical Sentiment Signal: Hold
Current Market Cap: A$108.5M
For an in-depth examination of CNB stock, go to TipRanks’ Overview page.