Latest Carnaby Resources (ASX:CNB) News

Big moves came from deal-driven small caps, critical minerals stories and a fresh burst of funding news across gold, copper and rare earths. The strongest gains came where cash, contracts or takeover terms gave investors something concrete to price in straight away.

Carnaby Resources has delivered a robust Pre-Feasibility Study and declared its maiden Ore Reserve at the Greater Duchess Copper Gold Project, setting sights on first production in the second half of 2026.

Micro-caps stole the spotlight, led by a boardroom reset at Killi and a blockbuster cancer update from Amplia. Energy explorers and a few big raisings moved the other way, as traders sold hard into fresh dilution and weak price action.

A boardroom shake-up and a fresh placement sparked the week’s biggest move, while critical minerals deals kept drawing buyers. Gold explorers also ran hard on drill hits, but several gapped stocks showed how fast early moves can fade.

Carnaby Resources has reported exceptional high-grade copper-gold drill results from the Trek 1 extension at its Greater Duchess Project, revealing significant down-plunge continuity that promises to boost the project’s mineral inventory.

A brutal split opened up in small caps: a few stocks surged on hard approvals and funding, while many resource names slid even after announcing big numbers. The week’s tape looked simple: investors paid for certainty and sold anything that still needs time, permits, or more cash.

A brutal sell-off in a few small caps did most of the damage this week, even as project funding and resource upgrades kept rolling in. Lithium, rare earths and tungsten news stayed constructive, but traders punished anything that looked like delays, dilution or weaker prices.

Carnaby Resources has released a compelling Pre-Feasibility Study and maiden Ore Reserve for its Greater Duchess Copper Gold Project, outlining a 12-year mine life with strong financial metrics and a near-term production target.

One stock nearly doubled, another jumped more than 40%, and a finance heavyweight stayed elevated after a merger shock. In resources, the winners were mostly tied to “what was bought” or “what was funded”, while the laggards were often the ones where early optimism quickly turned into selling.

Fluorspar stole the week as OD6 ripped higher, while a fresh wave of trading halts and reopenings produced fast reversals. Rare earth processing deals, big funding packages and takeover timetables kept investors busy across small caps.

Carnaby Resources has reported a standout drill result of 18 metres at 5.0% copper equivalent at its Trek 2 prospect, signalling significant growth potential beyond current resource estimates at the Greater Duchess Copper Gold Project.

The week was split between big earnings reactions and small-cap rocks-and-rigs rallies. Pro Medicus sank despite record numbers, while a handful of explorers jumped on fresh discoveries and policy wins.