Carnaby Resources (ASX:CNB) could be a target for mergers and acquisitions amid a wave of takeovers in the copper and base metals sector that has left only a few "quality copper developers" on the Australian Stock Exchange, according to a Wednesday note by Euroz Hartleys.
The company is "well-positioned" given its resource base and proximity to Glencore's underutilised Mt Isa copper concentrator, Euroz said.
On Wednesday, the company reported extensional assay results from its Trekelano deposit, part of the Greater Duchess project in Queensland.
The results indicate the orebody widens at depth, remaining open for further exploration, the company said.
Higher-grade intercepts suggest potential for amenable mining grades and significant deposit growth, the company added.
Euroz said these results demonstrate Trekelano's strong exploration upside and potential to evolve into a much larger copper system.
The firm maintained Carnaby's speculative buy rating but lowered its price target to AU$0.80 from AU$1.01.
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。