# CAE: Highly Encouraging Initial Metallurgical Results

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cae-highly-encouraging-initial-metallurgical-results--e49001d5-5403-4002-8a82-14624b0d7e5c

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03141982

Publisher: asx

Original announcement: 2026-09-21T22:26:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-21T23:19:26.816Z

Atlas analysis updated: 2026-09-21T23:19:26.816Z

- Company: Cannindah Resources Ltd

- Ticker: CAE

- Exchange: ASX

- Region: Queensland

- Primary commodity: Copper

- Secondary commodities: Silver, Gold

- Document categories: Metallurgy

- Extracted: 2026-09-21 23:19:27 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Cannindah Resources has reported highly encouraging initial metallurgical results using NovaCell™ Coarse Particle Flotation at the Mt Cannindah Project. The technology achieved 94% Cu and 92% Ag recoveries at a coarse P80 of 450μm while rejecting 82% of the material, suggesting potential for significantly reduced energy and processing costs.

Reasoning: Strong initial metallurgical results using NovaCell technology demonstrate high copper and silver recoveries at a coarse grind, offering significant potential for lower-cost processing.

- Positive factor: High copper and silver recoveries using coarse particle flotation

- Positive factor: Significant mass rejection \(82%\) potentially reducing downstream costs

- Positive factor: Coarser grind size \(P80 450μm\) offers energy and throughput advantages

- Positive factor: Conventional flotation confirms saleable concentrate with low penalties

- Negative factor: Gold recovery is variable and lower in NovaCell tests compared to conventional

- Negative factor: Gold assaying issues noted due to small concentrate masses for fire assay

Facts used in scoring: 4

## Classification and evidence

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: NovaCell™ testwork achieved 94% Cu and 92% Ag recovery.

Evidence · text

> NovaCell™ Coarse Particle Flotation delivers 94% Cu and 92% Ag recovery

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: Testwork involves flotation processes.

Evidence · text

> NovaCell™ Coarse Particle Flotation delivers 94% Cu and 92% Ag recovery

**Gravity Route**

Polarity: neutral

Definition: Gravity separation forms a material part of the flowsheet.

Why it applies: the document describes a gravity route \("gravity"\)

**Multi-Domain Tested**

Polarity: positive

Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed.

Why it applies: 2 distinct composites were tested

## Extracted facts

Stored fact records: 4. Some facts used in scoring do not have a stored record.

## Metallurgical Results (4)

### flotation

[Link to this fact](https://atlas-staging.minestarters.com/news/cae-highly-encouraging-initial-metallurgical-results--e49001d5-5403-4002-8a82-14624b0d7e5c#fact-metallurgical-facts-0)

Mt Cannindah · copper

#### Identity

- Project: Mt Cannindah
- Commodity: copper
- Region: australia\_qld
- Reported Region: Queensland
- Ticker: CAE

#### Test Work

- Program Status: preliminary
- Test Type: flotation
- Processing Route: NovaCellTM Coarse Particle Flotation
- Sample: NovaCellTM scoping test, P80 450 μm
- Grind P80: 450 µm

#### Recovery

- Recovery: 94 %
- Recovery Basis: actual\_test
- Mass Pull: 18 %

#### Lab

- Laboratory: Core Resources Pty Ltd

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-21T00:00:00.000Z

Reasoning: Exceptional copper recovery at a significantly coarser grind size.

- Positive factor: 94% recovery at coarse grind

Evidence · text

> NovaCellTM scoping test demonstrated strong copper and silver recovery \(94% and 92% respectively\) at a substantially coarser primary grind \(P80 450μm\)

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: 94% is at or above the exceptional band \(92%\)

### flotation

[Link to this fact](https://atlas-staging.minestarters.com/news/cae-highly-encouraging-initial-metallurgical-results--e49001d5-5403-4002-8a82-14624b0d7e5c#fact-metallurgical-facts-1)

Mt Cannannah · silver

#### Identity

- Project: Mt Cannannah
- Commodity: silver
- Region: australia\_qld
- Reported Region: Queensland
- Ticker: CAE

#### Test Work

- Program Status: preliminary
- Test Type: flotation
- Processing Route: NovaCellTM Coarse Particle Flotation
- Sample: NovaCellTM scoping test, P80 450 μm
- Grind P80: 450 µm

#### Recovery

- Recovery: 92 %
- Recovery Basis: actual\_test
- Mass Pull: 18 %

#### Lab

- Laboratory: Core Resources Pty Ltd

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-21T00:00:00.000Z

Reasoning: Strong silver recovery at a coarse grind size.

- Positive factor: 92% recovery at coarse grind

Evidence · text

> NovaCellTM scoping test demonstrated strong copper and silver recovery \(94% and 92% respectively\) at a substantially coarser primary grind \(P80 450μm\)

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: 92% is at or above the exceptional band \(90%\)

### flotation

[Link to this fact](https://atlas-staging.minestarters.com/news/cae-highly-encouraging-initial-metallurgical-results--e49001d5-5403-4002-8a82-14624b0d7e5c#fact-metallurgical-facts-2)

Mt Cannannah · gold

#### Identity

- Project: Mt Cannannah
- Commodity: gold
- Region: australia\_qld
- Reported Region: Queensland
- Ticker: CAE

#### Test Work

- Program Status: preliminary
- Test Type: flotation
- Processing Route: NovaCellTM Coarse Particle Flotation
- Sample: NovaCellTM scoping test, P80 450 μm
- Grind P80: 450 µm

#### Recovery

- Recovery: 68 %
- Recovery Basis: actual\_test
- Mass Pull: 18 %

#### Lab

- Laboratory: Core Resources Pty Ltd

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-21T00:00:00.000Z

Reasoning: Gold recovery is lower than conventional benchmarks and results are noted as potentially unreliable due to small sample masses.

- Negative factor: Lower gold recovery compared to conventional

- Negative factor: Assay reliability issues noted

Evidence · text

> Gold recovery in the NovaCellTM test \(68%\) was lower than the FT-109 comparison \(86%\)

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 68% is below the weak band \(80%\)

### flotation

[Link to this fact](https://atlas-staging.minestarters.com/news/cae-highly-encouraging-initial-metallurgical-results--e49001d5-5403-4002-8a82-14624b0d7e5c#fact-metallurgical-facts-3)

Mt Cannannah · copper

#### Identity

- Project: Mt Cannannah
- Commodity: copper
- Region: australia\_qld
- Reported Region: Queensland
- Ticker: CAE

#### Test Work

- Program Status: preliminary
- Test Type: flotation
- Processing Route: Conventional flotation \(two cleaning stages\)
- Sample: Conventional flotation, FT-111
- Grind P80: 20 µm

#### Recovery

- Recovery: 83.7 %
- Recovery Basis: actual\_test

#### Lab

- Laboratory: Core Resources Pty Ltd

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-21T00:00:00.000Z

Reasoning: Standard recovery for conventional flotation route.

- Positive factor: Confirms saleable concentrate production

Evidence · text

> The adopted final conditions, FT-111, balances this trade-off at 25.0% Cu and 83.7% copper recovery \(two cleaning stages\)

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.