Carnaby Resources' (ASX:CNB) Trekelano acquisition and drilling commencing in the coming weeks can be a "major" short-term catalyst for the company's shares, said Euroz Hartleys in a Monday note.
The maiden drilling program is expected to begin over the coming few weeks in its Greater Duchess copper-gold project, the company said on Friday.
"CNB has significantly de-risked the Greater Duchess project in our view, removing plant construction risk and acquiring relatively low-risk economic ore with Trekelano," the note added.
The note said that the company is "well placed" to take advantage of the underutilized copper concentrator in Glencore's Mt Isa plant with a binding agreement now signed.
Euroz Hartleys maintained Carnaby Resources' speculative buy rating with a price target of AU$1.01 with both under review.
The company's shares rose 10% in recent Monday trade.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。