Canterbury Resources Limited (ASX:CBY) is a junior minerals explorer established in 2011, listed in 2019 and assessing large-scale copper-gold plays in the south-west Pacific region. The company has a number of active projects in PNG and Queensland. As highlighted in our note of 23-Aug, a return to drilling at the Briggs Project is now imminent with Africa Energy Resources (ASX:AFR) to fund a 3,000m RC drilling campaign focusing on the higher-grade central porphyry zone. The aim of the campaign is to progress Briggs to scoping study stage by perhaps mid-2022. We see this as a critical path item to deliver potentially material value accretion. With multiple drill-ready opportunities, the period FY22-FY23 could see tangible progress on resource definition and partnering across the portfolio. Through high working interests, the company has strong leverage to success. The increasing global demand for metals, particularly copper, should provide ready financing options in a post-COVID, growth economy.
26 Oct 2021
Briggs ready to rig up
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Briggs ready to rig up
Canterbury Resources Ltd. (CBY:ASX) | 0 0 0.0%
- Published:
26 Oct 2021 -
Author:
Finola Burke | Andrew Williams -
Pages:
6
Canterbury Resources Limited (ASX:CBY) is a junior minerals explorer established in 2011, listed in 2019 and assessing large-scale copper-gold plays in the south-west Pacific region. The company has a number of active projects in PNG and Queensland. As highlighted in our note of 23-Aug, a return to drilling at the Briggs Project is now imminent with Africa Energy Resources (ASX:AFR) to fund a 3,000m RC drilling campaign focusing on the higher-grade central porphyry zone. The aim of the campaign is to progress Briggs to scoping study stage by perhaps mid-2022. We see this as a critical path item to deliver potentially material value accretion. With multiple drill-ready opportunities, the period FY22-FY23 could see tangible progress on resource definition and partnering across the portfolio. Through high working interests, the company has strong leverage to success. The increasing global demand for metals, particularly copper, should provide ready financing options in a post-COVID, growth economy.