Cannindah Resources
Cannindah Resources Limited (ASX:CAE) is a pre-revenue Australian mineral exploration company focused on the porphyry Cu-Mo-Au Mt Cannindah Project and the Piccadilly gold project in Queensland.
- Company typePublic
- Founded2005
- HeadquartersSouthport, Australia
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Cannindah Resources does
Cannindah Resources Limited (ASX:CAE) is an Australia-domiciled mineral exploration and resource development company headquartered in Perth, Western Australia, with operations in Queensland. Its flagship asset is the Mt Cannindah Project, a porphyry-style Cu-Mo-Au mineralised system located approximately 100 km south of Gladstone, Queensland, on a tenement area exceeding 9 km². The project holds a JORC 2012-compliant Mineral Resource Estimate of 14.5 Mt @ 1.09% CuEq (159 Kt Cu equivalent) at a 0.3% CuEq cut-off, with the majority classified as Measured and Indicated. The resource is open along strike and at depth, and the company's exploration thesis draws analogies to Newcrest Mining's Cadia and Ridgeway Cu/Au deposits. A second asset, the Piccadilly Project (60 km north of Charters Towers, Queensland), is a high-grade gold play acquired through the 2020 takeover of Piccadilly Gold Mine Holdings Limited (PGMH).
The company's core technology is porphyry copper-gold exploration delivered through diamond drilling campaigns—the most recent (commenced March 2026) plans up to 10,000-20,000 metres of drilling targeting the Southern Porphyry Cu-Au-Mo zone. Notable historical intercepts include 493 m @ 1.17% CuEq from surface in hole CAE003 (November 2021) and 71 m @ 0.95% CuEq in CAE024 (March 2025). Cannindah is pre-revenue, generating no operating income; its activities are funded entirely through equity capital raises (AU$2 million placement in August 2022, AU$15 million two-tranche placement in February 2026 with Lion Selection Group as a strategic investor for an expected 3.3% stake).
The company's go-to-market is investor-relations-led: ASX announcements, the RIU Explorers Conference, Stockhead interviews, and an investor guide feature form the primary communications channels to both institutional and retail shareholders. Customers are not end-buyers of metals today—future offtake or development partners sit in the mining sector target segment. Leadership was substantially refreshed in 2025-2026, bringing in Chairman Tony Rovira (ex-Azure Minerals, $1.7B Andover Lithium discovery), CEO Cameron Switzer (ex-Newcrest APAC Exploration Manager, Cadia/Telfer/Lihir/Havieron pedigree), and Exploration Manager Chris Chambers (ex-Newcrest/Normandy/Evolution).
Cannindah Resources firmographics
Firmographics- Name
- Cannindah Resources
- Legal name
- Cannindah Resources Limited
- Website
- https://cannindah.com.au
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Cannindah Resources Limited (ASX:CAE) is a pre-revenue Australian mineral exploration company focused on the porphyry Cu-Mo-Au Mt Cannindah Project and the Piccadilly gold project in Queensland.
- Ownership category
- akta.pro rank
Cannindah Resources industry classification
Industry- Product category
- Mining Exploration
- NAICS
- Support Activities for Metal Mining (213114), Copper, Nickel, Lead, and Zinc Mining (212230)
- SIC
- Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Copper Exploration & Resource Development (IMAKADAA)
- akta.pro secondary industries
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
Keywords
Where Cannindah Resources is headquartered
LocationHeadquarters
- HQ city
- Southport
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Cannindah Resources business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Others
Revenue model
- Pre-Revenue Exploration: Cannindah Resources is a pre-revenue exploration and resource development company. The company is focused on advancing its Mt Cannindah copper-gold project and Piccadilly gold project through exploration drilling, with the goal of defining sufficient resources to support future mining operations. Currently in exploration phase with no commercial production or revenue.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels9 records
Cannindah Resources product offering
Product offeringCore offering
Cannindah Resources is an ASX-listed exploration and resource development company focused on copper, molybdenum, and gold mineral exploration across its flagship Mt Cannindah Project (a porphyry Cu-Mo-Au system) and the Piccadilly gold project, both located in Queensland, Australia. The company conducts diamond drilling programs and geological evaluation to define JORC-compliant mineral resources, with the goal of supporting future mining operations. It is pre-revenue, funded through equity capital raises, and does not yet produce commercial minerals.
Product overview
Cannindah Resources Limited is an ASX-listed (ASX:CAE) Queensland, Australia-based exploration and resource development company with two active mining projects: the flagship Mt Cannindah Project (a porphyry copper-gold-molybdenum system) and the Piccadilly Project (a gold exploration project). The company focuses on advancing exploration at Mt Cannindah while evaluating strategic options for Piccadilly.
Differentiator
Problem solved
Functional benefit
Products and services
- Mt Cannindah Project A large porphyry-style Cu-Mo-Au mineralized system located 100km south of Gladstone, QLD, with a JORC 2012-compliant resource of 14.5Mt @ 1.09% CuEq. The project is the company's flagship asset and is currently undergoing diamond drilling exploration targeting extensions of the Cannindah Breccia and newly identified southern porphyry Cu-Au-Mo potential.
- Piccadilly Project A gold exploration project located 60km north of Charters Towers, QLD, consisting of one mining lease (ML1442) and two EPMs. The project has historically produced high-grade gold with the main lode grading over 31g/t Au, and recent rock chip sampling returned up to 15.02g/t Au.
Quantifiable outcome
- 183% increase in overall tonnes from previous resource estimate
- +5 more outcomes
Companies that use Cannindah Resources
Customer profileSegments1 record
Ideal customer profiles2 records
Cannindah Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Cannindah Resources partnerships and signals
Strategic signalScale indicators7 records
Recent moves8 records
Expansion highlights6 records
Cannindah Resources competitors and assessment
Company assessmentDirect peers
- Rex Minerals: ASX-listed copper-gold focused explorer-developer with the Hillside porphyry Cu-Au project in South Australia. Direct porphyry Cu-Au analog and closest comparable in scale and stage to Cannindah's Mt Cannindah project.
- Stavely Minerals: ASX-listed explorer pursuing porphyry copper-gold-silver mineralization at the Thursday's Gossan project in Victoria. Same porphyry Cu-Au target style and junior-Australian copper-focused profile as Cannindah.
- Kincora Copper: TSX-V listed junior explorer focused on porphyry copper-gold discovery in the Macquarie Arc, NSW, Australia. Directly comparable as a junior porphyry Cu-Au explorer with Australian assets.
- Alma Metals: ASX-listed copper-gold explorer with the Briggs and Cork Tree copper projects in Queensland. Closely comparable as an Australian copper-focused junior explorer operating in similar Queensland jurisdiction.
- Hillgrove Resources: ASX-listed copper-gold producer/developer with the Kanmantoa copper-gold mine in South Australia. Comparable as a small-cap Australian copper-gold operator-developer at a similar scale of resource and corporate footprint.
Broad incumbents
- Newmont Corporation: Global major gold and copper producer now owning Cadia (NSW) following the Newcrest acquisition - the deposit Cannindah's Mt Cannindah is geologically modeled on. Relevant as the ultimate comparable for resource quality and market reception.
- Sandfire Resources: Mid-tier Australian copper-gold producer (formerly DeGrussa, now MATSA/Black Butte). Comparable as an established Australian copper-gold operator that progressed from junior explorer status.
- Evolution Mining: Mid-tier Australian gold and copper-gold producer with operations including Cracow and Mt Rawdon. Relevant as an Australian gold-copper operator with comparable Queensland operating geography and an Exploration Manager (Chris Chambers) who worked there before joining Cannindah.
- Aeris Resources: ASX-listed mid-tier copper-gold producer with Tritton and Cracow-style assets. Comparable as a small-mid cap Australian copper-gold operator that early-career Cannindah team members worked at.
Others
- BHP Group: Global diversified major and owner of the Oak Dam copper-gold project in South Australia following the OZ Minerals acquisition. Functions as a comparable for ultimate acquirer profile given copper-gold strategic interest in Australian tenements.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Cannindah Resources social profiles
Digital presenceCannindah Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cannindah Resources leadership team
Management profileNumber of profiles
Profiles6 records
Cannindah Resources subsidiaries and ownership
Company hierarchySubsidiaries1 record
Cannindah Resources funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cannindah Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cannindah Resources
What does Cannindah Resources do?
Cannindah Resources is an ASX-listed exploration and resource development company focused on copper, molybdenum, and gold mineral exploration across its flagship Mt Cannindah Project (a porphyry Cu-Mo-Au system) and the Piccadilly gold project, both located in Queensland, Australia. The company conducts diamond drilling programs and geological evaluation to define JORC-compliant mineral resources, with the goal of supporting future mining operations. It is pre-revenue, funded through equity capital raises, and does not yet produce commercial minerals.
Is Cannindah Resources a public or private company?
Cannindah Resources is a public company. It is classified as public and is currently operating.
When was Cannindah Resources founded?
Cannindah Resources was founded in 2005. It employs 1 to 10 people.
Where is Cannindah Resources based?
Cannindah Resources is headquartered in Southport, Australia, in the Oceania region.
How does Cannindah Resources make money?
One revenue line is on record: pre-Revenue Exploration.
Who are Cannindah Resources's main competitors?
Direct peers on record are Rex Minerals, Stavely Minerals, Kincora Copper, Alma Metals and Hillgrove Resources. Broad incumbents are Newmont Corporation, Sandfire Resources, Evolution Mining and Aeris Resources. BHP Group is listed as an others.
Does Cannindah Resources have an API?
No public API is recorded for Cannindah Resources.
What industry is Cannindah Resources in?
Cannindah Resources's product category is Mining Exploration. Its primary akta.pro industry code is IMAKADAA, Copper Exploration & Resource Development, with a secondary code of IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling). Its NAICS code is 213114 and its SIC code is 1090.