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Cannindah Resources Limited ( (AU:CAE) ) just unveiled an announcement.
Cannindah Resources Limited has announced a fully underwritten $4.5 million entitlement offer to accelerate drilling at its Mt Cannindah copper-gold deposit. The funds will be used to expand the existing mineral resource and explore two high-priority porphyry copper-gold targets. The offer is supported by major shareholder Aquis and existing long-term shareholders, highlighting confidence in the company’s growth strategy and potential for significant discoveries.
More about Cannindah Resources Limited
Cannindah Resources Limited operates in the mining industry, focusing on the exploration and development of copper and gold deposits. The company’s primary project is the Mt Cannindah copper-gold deposit, which is a significant focus for its resource expansion and exploration efforts.
Average Trading Volume: 593,929
Technical Sentiment Signal: Sell
Current Market Cap: A$13.83M
Learn more about CAE stock on TipRanks’ Stock Analysis page.