- Copper and gold explorer Cannidah Resources’ (CAE) shares are up today after retiring its debt
- After a shareholder meeting, the company issued 190 million shares to Aquis Finance to wipe off its debt
- Chairman Tom Pickett is thankful for the support Aquis has given Cannidah
- On the market close for the weekend, Cannidah is up 1.96 per cent and trading at 5.2 cents per share
Cannidah Resources’ (CAE) shares are up today after retiring its debt.
After a shareholder meeting, the company issued 190 million shares to Aquis Finance to wipe off its debt.
“We thank Aquis for its continued support of the company,” Chairman Tom Pickett said.
“With the company now debt-free and with some $2 million in the bank following recent capital raises, Cannindah is now poised to further its exploration activities at its exciting Mt Cannindah copper-gold project and its Piccadilly gold project,” he added.
Cannidah is an exploration and development company that focuses on copper and gold. The company’s current projects are located in Queensland, Australia.
Its Mount Cannindah Copper-Gold Project is 100 kilometres in Gladstone and is a large gold-bearing porphyry copper-gold system with significant regional potential within six square kilometres of granted mining leases.
Last month, the company raised $1.25 million through a capital raise. The company will use these funds to advance its Queensland projects.
On the market close for the weekend, Cannidah is up 1.96 per cent and trading at 5.2 cents per share.