Carnaby Resources to Release Shares from Escrow in Strategic Move

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

Carnaby Resources Ltd. announced the release of 9,090,909 fully paid ordinary shares from voluntary escrow on 16 May 2025. These shares were issued to Hammer Metals Limited as part of an Acquisition and Joint Venture Agreement concerning exploration tenements near the company’s Mount Hope Mining Lease in Queensland. This release marks a significant step in the collaboration between Carnaby and Hammer Metals, potentially enhancing Carnaby’s exploration capabilities and strategic positioning in the region.

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 has a strong management team, a tight capital structure, and a robust cash position. Its primary project is the Greater Duchess Copper Gold Project in Queensland, which includes several significant discoveries and is undergoing a Pre-Feasibility Study. Carnaby has also signed binding agreements with Glencore International AG and holds gold projects near De Grey’s Hemi gold discovery.

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Average Trading Volume: 402,502

Technical Sentiment Signal: Buy

Current Market Cap: A$62.81M

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