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Canterbury Resources Ltd (ASX:CBY)

ALERT: Price-sensitive ASX Announcement for CBY
Current share price for CBY : $0.041 -0.014 (-25.45%)+
Announcement
Release
15 May 2026 8:28AM
Price at Release
$0.055
Full Release
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Summary
Canterbury Resources Limited has completed the acquisition of the Monto Project, which includes six exploration tenements in central Queensland. The acquisition cost was $400,000 in cash and 5 million ordinary fully paid shares in Canterbury. The Monto Project is considered prospective for porphyry copper-molybdenum mineralization, with substantial exploration conducted between 2008 and 2013. Canterbury plans to focus on the John Hill deposit, which is similar to its Briggs project, with a deep drilling program scheduled for the second half of 2026. This initiative aims to explore significant copper-molybdenum-silver mineralization further. The acquisition also involved issuing new shares under the Corporations Act without investor disclosure, increasing the company’s total shares to 277,798,164.
Key Points
  • Completion of the Monto Project acquisition.
  • Purchase price: $400,000 and 5 million ordinary shares.
  • Monto Project located 80km south of Briggs Copper Project.
  • Prospective for porphyry copper-molybdenum mineralization.
  • Focus on John Hill deposit for further exploration.
  • Deep drilling program planned for 2H 2026.
  • Issuance of 5 million new shares under Corporations Act.
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.