InvestSMART

Carnaby Resources Limited (ASX:CNB)

ALERT: Price-sensitive ASX Announcement for CNB
Current share price for CNB : $0.530 0.115 (27.71%)+
Announcement
Release
16 Mar 2026 9:15AM
Price at Release
$0.415
Full Release
download
Summary
Carnaby Resources Limited announced the results of a Pre-Feasibility Study (PFS) and Maiden Ore Reserve for the Greater Duchess Copper Gold Project located in Mt Isa, Queensland. The project includes multiple deposits with a Mineral Resource Estimate of 29 million tonnes at 1.5% copper equivalent, and a Probable Ore Reserve of 8.4 million tonnes at 1.9% copper equivalent. Financial projections show significant returns with an NPV (Net Present Value) of $472 million pre-tax and $322 million post-tax, and an IRR (Internal Rate of Return) of 281%. The project features a 12-year production plan, with initial open-pit mining transitioning to underground mining. Agreements with Glencore for ore processing and offtake have been established, and the project has binding tolling and offtake agreements. The study highlights robust financial metrics, including a payback period of 13 months, emphasizing the project's strong economic potential.
Key Points
  • Carnaby Resources Limited conducted a Pre-Feasibility Study on the Greater Duchess Copper Gold Project.
  • The project has a Mineral Resource Estimate of 29Mt at 1.5% CuEq and a Probable Ore Reserve of 8.4Mt at 1.9% CuEq.
  • Financials indicate an NPV of $472M pre-tax, $322M post-tax, and an IRR of 281%.
  • The project includes a 12-year production target with a transition from open-pit to underground mining.
  • Agreements with Glencore have been established for ore processing and offtake.
  • The project is expected to generate significant returns with a payback period of 13 months.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.