FINWIRES · TerminalLIVE
FINWIRES

Cannindah Resources Expands, Extends Mineralization at Queensland Project; Shares Rise 3%

By

Cannindah Resources (ASX:CAE) expanded and extended the Southern shoot at the Cannindah Breccia deposit, part of the Mt Cannindah project in Queensland, by a further 50 meters following results from recent drilling, according to a Wednesday Australian bourse filing.

It encountered an intercept of 26 meters at 1.29% grade of copper-equivalent, including 0.27 grams per tonne grade of gold and 0.92% copper from 192 meters. An additional hole is currently being drilled to drill through the entire mineralized zone.

Recent drilling in the Northern shoot targeting data gaps in the current mineral resource estimate also returned strong results, including 26 meters at 1.64% grade of copper-equivalent, including 0.24 g/t grade of gold and 1.28% copper, from 112 meters.

Its shares rose 3% in recent trading on Wednesday.

Related Articles

Asia

Cosmo Chemical Shares Rise 6% on KRW15.5 Billion EcoPro Supply Deal

Cosmo Chemical (KRX:005420) secured a supply contract for cobalt sulfate, a secondary battery cathode material, from EcoPro (KOSDAQ:086520) subsidiary EcoPro EM, according to a Tuesday Korea Exchange filing.The contract, worth 15.47 billion won, is valid till Dec. 31, 2031.Shares of Cosmo Chemical rose nearly 6% in recent trade.

$KOSDAQ:086520$KRX:005420
Asia

Grasim Industries Earmarks INR31 Billion Capex for Lyocell Capacity Expansion

Grasim Industries (NSE:GRASIM, BOM:500300) has received board approval for Phase II expansion of its Lyocell capacity in Harihar, Karnataka, involving capital expenditure of 30.9 billion Indian rupees, according to a Monday filing with the Indian bourses.The expansion will be executed in two phases, adding a total capacity of 110,000 tonnes per annum (TPA) through two 55,000 TPA lines. The first phase is expected to be completed by mid-2028, followed by the second phase by mid-2030.The Phase II expansion will complement Phase I of its Lyocell plant in Harihar, which is already under construction and is expected to be commissioned by mid-2027, the filing stated.

$BOM:500300$NSE:GRASIM
Asia

SEC Wins KRW4.2 Billion Equipment Supply Order from Hanwha Aerospace

South Korean tech and inspection company SEC (KOSDAQ:081180) won an order from Hanwha Aerospace (KRX:012450) to supply the latter with non-destructive testing equipment, according to a Tuesday filing with the Korea Exchange.The contract, worth 4.2 billion won, is valid till Dec. 31, 2027.Shares of Hanwha Aerospace rose nearly 1% in recent trade.

$KOSDAQ:081180$KRX:012450