Canterbury Resources Ltd (ASX:CBY)

ALERT: Price-sensitive ASX Announcement for CBY

Current share price for CBY : $0.048 0.015 (45.45%)⁺

Announcement

Monto Exploration Package Acquisition

Release

24 Apr 2026 3:51PM

Price at Release

$0.033

Full Release

Summary

Canterbury Resources Limited (ASX: CBY) announced the acquisition of the Monto Exploration Package, consisting of six exploration tenements near Monto in Central Queensland. The transaction involves a purchase price of $400,000 and the issuance of 5 million ordinary shares. This acquisition aims to expand Canterbury's exploration portfolio, focusing on porphyry copper-molybdenum mineralization, particularly the John Hill deposit, which is compared to the Briggs deposit due to its significant copper-molybdenum mineralization. The company plans a deep drilling program scheduled for the second half of 2026 to further explore the John Hill deposit. The acquisition is expected to enhance Canterbury's position in the copper supply market amid a global shortage of major copper development opportunities.

Key Points

Canterbury signed an agreement to acquire six exploration tenements near Monto.
Purchase price includes $400,000 cash and 5 million Canterbury shares.
Focus on porphyry copper-molybdenum mineralization, similar to Briggs deposit.
Deep drilling program planned for John Hill deposit in 2H 2026.
Aims to enhance copper supply amid global shortage of development opportunities.

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.