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A good day yesterday, looks like it could even have another crack at that 0.60 cents area.
CAE - Cannindah Resources
- Thread starter springhill
- Start date
Sean K
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Wow, that's a big hit.
greggles
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Another big hit. Looks like CAE are really onto something at Mount Cannindah.
Sean K
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Certainly are. Just a matter of how long/wide this system is. Can you make heads or tails of the dimensions? Looks like 200x300x200 ish? x2.6 = 31Mt @1%Cu ish. So far.
greggles
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Yes, those would appear to the approximate dimensions. Below is a visual interpretation of the orebody as defined by drilling to date. Looks suitable for an open pit mine. The grades are best between 183m and 194m.
Drilling is ongoing and management appear to have a good understanding of the orebody so I assume there are more encouraging assay results to come.
Drilling is ongoing and management appear to have a good understanding of the orebody so I assume there are more encouraging assay results to come.
Sean K
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That's a better indication of the dimensions. I haven't seen that before, good one.
Looks like they've extended it a bit more to the NE with this.
I'll stick with my best guess dimensions for now for 200x300x200x2.6 = 31Mt @1%Cu for 310K Cu, so far. If they can double or triple that at that grade, it's a pretty good deposit. Not sure what it's comparable to.
Sean K
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This is certainly turning into something. While this hole goes in the opposite direction to a couple of others, it looks like it's just intersecting the breccia similar to the others, so not too much more on the dimensions of 200x300x200.
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With a ~$130 million market cap and virtually no money left these guys went out and raised only $2.75 million from sophisticated investors this week at 20 cents. They did $2 million back in August and $1 million in March.
Don't understand what these directors are thinking with micro-share placements. You have to spend money to get things drilled out and only spending a million or two a quarter simply isn't good enough and is a massive red flag.
Don't understand what these directors are thinking with micro-share placements. You have to spend money to get things drilled out and only spending a million or two a quarter simply isn't good enough and is a massive red flag.
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Latest East Coast Research pump fwiw
Up today 22% - presumably on the back of this report and useful idiots and numpties disseminating it on share forums
Not Held
No current plan to Buy
New Report Launched
Cannindah Resources (ASX: CAE)
We initiate coverage on Cannindah Resources (ASX: CAE) with a 12-month target price of A$0.180, representing a 149.7% upside from the current share price of A$0.072. This valuation reflects our DCF and peer-based EV/resource analysis, highlighting CAE’s high-grade, fully permitted Mt Cannindah Project with a JORC-compliant 14.5Mt at 1.09% CuEq and 158,050 tonnes contained CuEq.
The open-pit potential and granted mining lease provide a de-risked development path, differentiating CAE from early-stage peers. Recent drilling results, including 82m @ 2.32% Cu, reinforce the project’s expansion potential. With copper demand accelerating due to global electrification trends and supply constraints, key catalysts include drilling success, resource expansion, and potential strategic partnerships, positioning CAE for a significant re-rating.
Queensland’s Next Copper-Gold Powerhouse with World-Class Potential
Cannindah is unlocking one of Queensland’s most exciting copper-gold opportunities at the Mt Cannindah Project, where recent drilling has delivered exceptional high-grade intercepts such as 493m @ 1.17% CuEq from the surface. With a JORC-compliant resource of 14.5Mt @ 1.09% CuEq, the project presents significant expansion potential, with mineralisation open along strike and at depth. The discovery of large scale IP chargeability anomalies, including the untested Southwest IP anomaly, signals attractive-scale potential, positioning Cannindah as a leading player in Australia’s copper supply story
Proven Leadership Driving Exploration Success & Multi-Asset Upside
Backed by a highly experienced and credentialed leadership team, Cannindah Resources is advancing its high-impact exploration strategy under the leadership of Tom Pickett, with further strength added by the recent appointment of Tony Rovira, whose industry expertise enhances the company’s growth trajectory. This team brings decades of expertise in major discoveries, resource development, and corporate growth strategies, ensuring effective project execution. With a strong financial position following a $5 million capital raise, the company is aggressively advancing its multi-asset portfolio, including the high-grade Piccadilly Gold Project. Historical production from the Piccadilly main lode averaged over 31 g/t Au, while recent trenching has delivered outstanding gold results, including 5m @ 14 g/t Au.
Attractive valuation with significant upside
Our valuation of Cannindah demonstrates its significant upside potential, driven by its high-grade copper resource, strategic location, and near-term development catalysts. In the Base Case, we derive a firm value of A$127.4M, translating to an implied share price of A$0.175, while the Bull Case valuation reaches A$134.4M, or A$0.185 per share. This represents a 143.0%–156.4% upside from the current price of A$0.072, with a midpoint target of A$0.180 per share.
Our valuation approach combines discounted free cash flows (DCF) and a peer-based EV/resource multiple of 354.32 A$/t CuEq, reflecting Cannindah’s mining lease, open-pit potential, and favourable project economics. Despite trading at a premium to peers due to its stronger resource base, higher potential for exploration upside, and greater future production potential, it remains well-positioned for a re-rating as development progresses and market sentiment for copper improves.
Up today 22% - presumably on the back of this report and useful idiots and numpties disseminating it on share forums
Not Held
No current plan to Buy
New Report Launched
Cannindah Resources (ASX: CAE)
We initiate coverage on Cannindah Resources (ASX: CAE) with a 12-month target price of A$0.180, representing a 149.7% upside from the current share price of A$0.072. This valuation reflects our DCF and peer-based EV/resource analysis, highlighting CAE’s high-grade, fully permitted Mt Cannindah Project with a JORC-compliant 14.5Mt at 1.09% CuEq and 158,050 tonnes contained CuEq.
The open-pit potential and granted mining lease provide a de-risked development path, differentiating CAE from early-stage peers. Recent drilling results, including 82m @ 2.32% Cu, reinforce the project’s expansion potential. With copper demand accelerating due to global electrification trends and supply constraints, key catalysts include drilling success, resource expansion, and potential strategic partnerships, positioning CAE for a significant re-rating.
Queensland’s Next Copper-Gold Powerhouse with World-Class Potential
Cannindah is unlocking one of Queensland’s most exciting copper-gold opportunities at the Mt Cannindah Project, where recent drilling has delivered exceptional high-grade intercepts such as 493m @ 1.17% CuEq from the surface. With a JORC-compliant resource of 14.5Mt @ 1.09% CuEq, the project presents significant expansion potential, with mineralisation open along strike and at depth. The discovery of large scale IP chargeability anomalies, including the untested Southwest IP anomaly, signals attractive-scale potential, positioning Cannindah as a leading player in Australia’s copper supply story
Proven Leadership Driving Exploration Success & Multi-Asset Upside
Backed by a highly experienced and credentialed leadership team, Cannindah Resources is advancing its high-impact exploration strategy under the leadership of Tom Pickett, with further strength added by the recent appointment of Tony Rovira, whose industry expertise enhances the company’s growth trajectory. This team brings decades of expertise in major discoveries, resource development, and corporate growth strategies, ensuring effective project execution. With a strong financial position following a $5 million capital raise, the company is aggressively advancing its multi-asset portfolio, including the high-grade Piccadilly Gold Project. Historical production from the Piccadilly main lode averaged over 31 g/t Au, while recent trenching has delivered outstanding gold results, including 5m @ 14 g/t Au.
Attractive valuation with significant upside
Our valuation of Cannindah demonstrates its significant upside potential, driven by its high-grade copper resource, strategic location, and near-term development catalysts. In the Base Case, we derive a firm value of A$127.4M, translating to an implied share price of A$0.175, while the Bull Case valuation reaches A$134.4M, or A$0.185 per share. This represents a 143.0%–156.4% upside from the current price of A$0.072, with a midpoint target of A$0.180 per share.
Our valuation approach combines discounted free cash flows (DCF) and a peer-based EV/resource multiple of 354.32 A$/t CuEq, reflecting Cannindah’s mining lease, open-pit potential, and favourable project economics. Despite trading at a premium to peers due to its stronger resource base, higher potential for exploration upside, and greater future production potential, it remains well-positioned for a re-rating as development progresses and market sentiment for copper improves.
Just over 3 minutes, short and snappy audio executive summary on what they got in the ground. Impressive numbers.
Half yearly report published 14 March 2025 in part pp5,6 (see attached):
Going Concern
The Consolidated Entity’s incurred a net loss of $502,564 and had net cash outflows from operating and investment activities (exploration expenditure) of $1,463,362 for the six months ended 31 December 2024 but had an excess of current assets over current liabilities of $1,940,685 at that date. Whilst the events and conditions described above indicate that there is a material uncertainty relating to going concern, the Directors expect that to complete the projected exploration activities over the next 12 months additional funds will be required. It is expected that these funds will be obtained through additional capital raisings and/or loan funds as required. Based on their previous experience and success in raising capital and loan funds, the Directors are confident that the required additional funds can be obtained. In this regard, the Directors note that during the period 5 $5,000,000 in cash (before issue costs) was raised from sophisticated and professional investors through a Share Placement. The Directors are satisfied that they will be able to secure the additional funds required, and that the going concern basis of preparation for the financial report is appropriate.
HA HA HA HA HA HA HA HA HA HA HA HA HA HA
Not holding
Kind regards
rcw1
