Cannindah Resources: Raises $2.75m to fund further exploration at Mt Cannindah, QLD

Cannindah Resources Raises $2.75m to fund further exploration at Mt Cannindah, QLD

• Cannindah Resources (CAE) raises $2.75 million via a placement to fund further exploration at the Mt Cannindah in Queensland
• The placement consisted of 13.75 million shares at an issue price of 20 cents each
• Mt Cannindah covers a total of 71.5 square kilometres-worth of exploration permits, and 5.7 square kilometres of mining leases
• The company has identified the project as a large high-level porphyry copper-molybdenum-gold mineralised system
• Shares in CAE were down 3.26 per cent, trading at 22.3 cents at 1:10 pm AEDT