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Cannindah Resources Limited (ASX:CAE)

ALERT: Price-sensitive ASX Announcement for CAE
Current share price for CAE : $0.035 -0.009 (-20.45%)+
Announcement
Release
30 Apr 2026 8:10AM
Price at Release
$0.044
Full Release
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Summary
Cannindah Resources Limited provided a Quarterly update for the period ending 31 March 2026, focusing on the expansion of the Cannindah Breccia and the Southern Porphyry Target. The company completed 4,140m of reverse circulation drilling for 17 holes targeting extensions of the Cannindah Breccia Mineral Resource Estimate (MRE) and 374.2m of diamond drilling at the Southern Target. The company reported high-grade mineralisation results with the discovery of new ore shoots, specifically the Southern Shoot, which remains open and is a key growth driver to expand the current MRE. Financial activities for the quarter included a $15M capital raise and share purchase plan, leading to a strong cash position. The report also highlights ongoing exploration with a focus on extending the mineralization potential of the Mt Cannindah project, which shows significant copper and gold resource potential.
Key Points
  • Cannindah Resources completed 4,140m of reverse circulation drilling.
  • Results show extension potential in the Cannindah Breccia and a new Southern Shoot.
  • The firm undertook a $15M capital raise through Canaccord Genuity.
  • Drilling results indicate a substantial potential for copper and gold resources.
  • The Southern Shoot is a key driver for future Mineral Resource Estimate growth.
  • The quarterly report ends with a strong cash position at $13,965,000.
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.