Latest Cannindah Resources (ASX:CAE) News

Cannindah Resources has expanded drilling at its Mt Cannindah copper-gold project, identifying the Southern Shoot and extending the Southern Porphyry Target, while equity raisings lifted cash to $14.1 million. The exploration-led result came with a larger annual loss and a substantially expanded share count.

Cannindah Resources has identified a higher-tenor copper, gold and silver zone at its Appletree Prospect, with grades increasing southward toward a potential buried porphyry centre. Three diamond-hole assays remain outstanding before the company commits to the next phase of drilling.

Cannindah Resources has reported preliminary NovaCell testwork recovering 94% of copper and 92% of silver at a substantially coarser grind, while rejecting 82% of processed material. The results could support a higher-throughput, lower-energy processing route, although gold recovery and concentrate quality still require further work.

Avenira led the week after securing an offtake deal covering more than 80% of expected Wonarah phosphate output. Copper, gold and rare earths explorers also gained, while several companies raised cash to fund drilling or mine construction.

Cannindah Resources is accelerating drilling at its Cannindah Breccia deposit after identifying mineralisation beyond the existing resource and along a broader 2km structural corridor. An updated resource estimate, incorporating 45 additional drill holes and new metallurgical inputs, is targeted by the end of September.

Cannindah Resources has delivered compelling drilling results that expand and upgrade its Mt Cannindah copper-gold resource, alongside initiating metallurgical test work to support a resource update scheduled for Q3 2026.

A brutal sell-off in a few small caps sat alongside takeover bids, fresh capital raisings and strong gains in medtech. The week split the market in two: buyers chased clear funding and approval news, while weaker stories sank fast after reopening.

Big price swings hit the materials board as deal news, capital raisings and resource updates pulled stocks in opposite directions. Gold M&A stayed busy, while critical minerals names kept feeding the market with drilling, testwork and project studies.

Cannindah Resources continues to push the boundaries of its Cannindah Breccia copper-gold deposit with new drilling extending the Southern Shoot and revealing wider, higher-grade zones in both Southern and Northern Shoots, setting the stage for a significant resource upgrade later this year.

Gold explorers and small-cap tech names drove the biggest share price swings this week, while one healthcare stock sank after a deeply discounted funding move. Deals, drill hits and fresh financing dominated trading across the ASX.

Gold stories drove the week, but the biggest jumps came from drill hits and project studies that gave investors a reason to chase smaller names. At the larger end, merger activity and fresh funding kept attention on producers that want to get bigger, faster.

Cannindah Resources has uncovered a significant new high-grade Southern Shoot at its Cannindah Breccia copper-gold deposit, expanding the known mineralised system well beyond current resource boundaries and offering fresh exploration upside.