This ASX copper company's shares are defying a weak market after good project news

MotleyFool09:47

Carnaby Resources Ltd (ASX: CNB) shares are defying weakness in the resource sector, trading higher after the company released a prefeasibility study for its Greater Duchess copper and gold project in...

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href=https://www.fool.com.au/2026/03/16/this-asx-copper-companys-shares-are-defying-a-weak-market-after-good-project-news/><strong>MotleyFool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Carnaby Resources Ltd (ASX: CNB) shares are defying weakness in the resource sector, trading higher after the company released a prefeasibility study for its Greater Duchess copper and gold project in...</p>\n\n<a href=\"https://www.fool.com.au/2026/03/16/this-asx-copper-companys-shares-are-defying-a-weak-market-after-good-project-news/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CSC.AU","symbol_name":"Capstone Copper 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are 4.8% higher at 43.5 cents.Carnaby released both a pre-feasibility study  and a maiden ore reserve for Greater Duchess, with the PFS stating that it would only cost $11 million to bring the project into production.Greater Duchess was expected to produce for 12 years, with a six-year open-pit operation followed by a transition to underground mining.The project is expected to have a payback period of 13 months under the company's base metal price assumptions, improving to 11 months if spot prices for copper and gold are used.The maiden ore reserve indicates that the mine has 8.4 million tonnes of ore at a copper equival","collect":0,"end_time":0,"defaultTopTitle":"fool.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"CSC.AU":"Capstone Copper Corp","BK4195":"互助储蓄与抵押信贷金融服务","CNB.AU":"CARNABY RESOURCES LTD","BK4535":"淡马锡持仓","PFS":"Provident Financial Services Inc","COPJ":"SPROTT JUNIOR COPPER MINERS ETF","CPXR":"USCF DAILY TARGET 2X COPPER INDEX ETF","BGL.AU":"BELLEVUE GOLD LTD","BK7095":"多种金属与采矿","BK7104":"黄金","RRL.AU":"REGIS RESOURCES LTD","BK4211":"区域性银行","BK7110":"铜","XME":"金属与采矿指数ETF-SPDR","CPER":"美国铜指数基金"},"translate_title":"在良好的项目消息传出后，这家澳大利亚证券交易所铜公司的股价顶住了疲软的市场","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RRL.AU":1,"CSC.AU":1,"CPXR":1.5,"BGL.AU":1,"PFS":1,"XME":1.5,"CNB.AU":1,"COPJ":1.5,"CPER":1.5},"content_text":"Carnaby Resources Ltd (ASX: CNB) shares are defying weakness in the resource sector, trading higher after the company released a prefeasibility study for its Greater Duchess copper and gold project in Queensland. \nWhile the share prices of major gold companies such as Bellevue Gold Ltd (ASX: BGL), Regis Resources Ltd (ASX: RRL), and Capstone Copper Corp (ASX: CSC) are lower in mid-morning trade, Carnaby shares are 4.8% higher at 43.5 cents.\nImage source: Getty Images\nLow-cost capex\nCarnaby released both a pre-feasibility study (PFS) and a maiden ore reserve for Greater Duchess, with the PFS stating that it would only cost $11 million to bring the project into production.  \nGreater Duchess was expected to produce for 12 years, with a six-year open-pit operation followed by a transition to underground mining. \nThe project is expected to have a payback period of 13 months under the company's base metal price assumptions, improving to 11 months if spot prices for copper and gold are used.\nThe maiden ore reserve indicates that the mine has 8.4 million tonnes of ore at a copper equivalent grade of 1.7%.\nForging ahead with next steps\nThe company has now started its feasibility study, which it expects to finish in the second quarter of calendar year 2026, with a final investment decision targeted by June 30.\nThis is expected to be followed by first production in the second half of calendar year 2026.\nCarnaby Managing Director Rob Watkins said:\n\nThe release of the Greater Duchess PFS is a major milestone for Carnaby and its shareholders and is the culmination of extensive work completed by the Carnaby team and independent consultants over the course of the last year. The PFS results highlight an extremely robust new mine development project located close to existing world class infrastructure and processing facilities in the Mount Isa region. The Greater Duchess Copper Gold project has a clear pathway to a low pre-production capex ($11M) near term mining operation (target first production H2 CY26) that will capitalise on record copper and gold prices.\n\nThe mining project is expected to deliver EBITDA of $983 million, or $1.27 billion at spot prices.\nThe company added that there was the potential for further expansion of the mineral resource.\n\nAll deposits remain open at depth and the exploration upside in the Greater Duchess mine camp has clearly demonstrated potential to deliver additional production target tonnes in the future. This is particularly evident at Trek 1 and Trek 2 where recent outstanding exploration results have been recently reported.\n\nThe project will have an all-in sustaining cost of production of $9583 per tonne of copper, compared with the assumption used in the PFS of $16,500 per tonne.\nCarnaby Resources was valued at $115 million at the close of trade on Friday.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2619647487","isCrawlerRequest":true}