- Carnaby has development projects underway in copper/gold and lithium.
- The company’s flagship asset is the Greater Duchess Copper/Gold Project.
- Crediting three great discoveries over the last two years, Carnaby released a maiden resource estimate for the Greater Duchess Project on 27th
Within the Greater Duchess Project, Mount Hope may be the most standout prospect. On 11th April 2022, the company announced the 100% acquisition of the Mount Hope mining lease. What followed was a series of positive results at the Mount Hope prospect, leading to the release of the maiden resource, totalling 21.8 million tonnes, with the lion’s share coming from Mount Hope – 10.3mt. Two other significant prospects within the Greater Duchess Project contributed – Nil Desperandum and Lady Fanny.
The stock grabbed investor attention with a December 2021 announcement to the market entitled “Spectacular Copper Discovery – Greater Duchess Project.” Drilling at Nil Desperandum found strong copper sulphide mineralisation.
The announcement jolted the stock price upward, but continued positive reports were not enough to sustain the momentum. While over five years the stock price is up more than 750%, year over year, it is down 19.88%, and within the last three months the price is down 35.38%.
Source: ASX
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An analyst at Seneca Financial Solutions has a HOLD recommendation on Carnaby Resources stock, citing recent drilling updates and the potential mine life of over 20 years, while commenting the stock is most suitable for patient investors looking to get in on the green transition led by copper.
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