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Cannindah confirms copper-gold intercepts at Mt Cannindah, extending 700m strike. With $17M cash, 2026 drilling targets porphyry system — Co

Porphyry systems are highly valued in the mining sector due to their large-scale mineralization. These deposits often contain significant quantities of copper and gold, making them economically viable for long-term operations. The expansion highlighted in Cannindah Resources Expands Southern Porphyry Footprint as Mt Cannindah Delivers Broad Copper-Gold Intercepts suggests that the resource base could be much larger than previously estimated.

Cannindah Resources (ASX: CAE) secures AUD 15 million via placement and SPP to fund expanded copper-gold drilling at Mt Cannindah, its flags

The timing of the raise is strategically aligned with strong commodity fundamentals. Copper demand is surging globally due to its essential role in electric vehicles, renewable power grids, and battery storage systems.

Cannindah Resources Limited (ASX: CAE) advances a potential transformational critical minerals copper–molybdenum–gold project in Queensland

Infrastructure accessibility is a major differentiator for Mt Cannindah. Road connectivity, nearby ports, and power availability streamline logistics from exploration through to production.

As Cannindah Resources Limited Accelerates Growth at Mt Cannindah as Critical Minerals Demand Strengthens, infrastructure readiness supports cost control and timeline certainty. This is particularly important amid global inflationary pressures on mining projects.

Water access, camp facilities, and regional services further support operational scaling. These fundamentals make the transition from explorer to producer more achievable.

Queensland’s mining ecosystem—including contractors, engineers, and suppliers—adds operational depth, reducing reliance on fly-in, fly-out models.

Cannindah Resources Limited (ASX: CAE): Secures $15M Placement to Accelerate Mt Cannindah Growth 🚀⛏️

Cannindah Resources has successfully completed a $15 million two-tranche placement and launched a $2 million Share Purchase Plan (SPP), significantly strengthening its balance sheet to accelerate drilling and resource growth at the flagship Mt Cannindah Copper–Gold Project in Queensland.

💰 Capital Raise Highlights

$15M placement at $0.045/share (two tranches)

Strong support from institutional and existing shareholders

$2M SPP offered to eligible shareholders at the same price

Funding provides an extended runway through 2026

🔧 Use of Funds

Proceeds will be used to:

Expand the Mt Cannindah Breccia MRE (currently 14.5Mt @ 1.09% CuEq)

Restart RC drilling within one week

Advance diamond drilling at the Southern Porphyry Copper–Gold Target

Continue broader exploration across the project area

📈 Why It Matters

Confirms strong market confidence in Mt Cannindah’s upside

Enables aggressive drilling programs in a strong copper–gold market

Southern Porphyry Target offers transformational discovery potential

💬 Management Commentary

Chairman Tony Rovira noted that the strong support reflects growing confidence in the Company’s strategy and the upside potential at Mt Cannindah, with plans to scale drilling activity and accelerate exploration through 2026.

📊 Investor Outlook

Cannindah Resources last traded at $0.050, giving the Company a market capitalisation of approximately $57.77M. With funding secured, drilling restarting, and multiple high-impact targets in play, Cannindah is positioned for sustained news flow and potential resource growth in a tightening global copper market.

🔗 Read more: https://colitco.com/cannindah-resources-raises-aud-15-million/

⚠️ Disclaimer: This is not an investment advise, please do your own research for any investment decisions.