# CBY: Full Year Statutory Accounts Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cby-full-year-statutory-accounts--af6253a7-efc2-42b1-b8e6-e0df1570f34b Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145560 Publisher: asx Original announcement: 2026-09-29T07:57:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T14:33:09.641Z Atlas analysis updated: 2026-09-29T14:33:09.641Z - Company: Canterbury Resources Limited - Ticker: CBY - Exchange: ASX - Region: Queensland, Papua New Guinea - Primary commodity: Copper - Secondary commodities: Gold, Molybdenum, Silver - Document categories: Resource update, Agreement transaction, Other, Metallurgy - Extracted: 2026-09-29 14:33:10 UTC Narrative sentiment: -0.20 · Bearish ## Minestarters Atlas summary Canterbury Resources Limited reported a net loss of $1.26 million for the year ended June 30, 2026, and a decrease in net assets, with a material uncertainty regarding its ability to continue as a going concern. Despite financial challenges, the company acquired the Monto Project, expanding its exploration portfolio in Queensland, and highlighted significant outlined resources of 3.3Mt copper and 3.2Moz gold across its projects in Queensland and Papua New Guinea, with ongoing PFS work at Briggs indicating high copper recoveries. Reasoning: The company reported a significant financial loss and a going concern warning, indicating financial challenges. However, it also highlighted strategic acquisitions, substantial existing resource base, and ongoing project development with funding partners, suggesting operational progress and future potential. - Positive factor: Acquisition of Monto Project expands exploration portfolio - Positive factor: Significant outlined resources of 3.3Mt copper and 3.2Moz gold - Positive factor: Ongoing Preliminary Feasibility Study \(PFS\) at Briggs Copper Project - Positive factor: Funding partners providing capital for PNG projects - Positive factor: High copper recoveries \(94-95%\) indicated for Briggs project - Negative factor: Net loss for the year of $1.26 million - Negative factor: Decrease in net assets - Negative factor: Material uncertainty regarding going concern due to net current liabilities and reliance on future capital raises - Negative factor: No new drill results reported in this financial update Facts used in scoring: 8 ## Classification and evidence **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The resource estimates for Idzan Creek and Wamum Creek are signed off by Mr Geoff Reed, a Member of the Australasian Institute of Mining and Metallurgy and a Competent Person. Evidence · text > The information in this report that relates to the Mineral Resources at Wamum Creek and Idzan Creek, has been prepared by Mr Geoff Reed, who is a Member of the Australasian Institute of Mining and Metallurgy, is a Consulting Geologist of Bluespoint Mining Services \('BMS'\) and is a shareholder of Canterbury Resources Limited. Mr Reed has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Reed consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The resource estimates for Idzan Creek and Wamum Creek are defined under the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ \(JORC Code\). Evidence · text > Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ **High Recovery** Polarity: positive Story-specific tag Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The Briggs Copper Project indicates very high copper recoveries of 94-95% through conventional flotation processing, which is above the exceptional band for flotation. Evidence · text > conventional crushing, grinding and flotation processing to produce very high copper recoveries \(94-95%\) **Pilot Scale Complete** Polarity: positive Story-specific tag Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: The metallurgical studies are part of a Preliminary Feasibility Study \(PFS\), implying advanced and detailed testwork beyond bench scale, moving towards pilot scale understanding. Evidence · text > At the Briggs Copper Project in central Queensland, we are undertaking a Preliminary Feasibility Study \(PFS\) assessing a conceptual long-life 30Mtpa operation that utilises conventional crushing, grinding and flotation processing to produce very high copper recoveries \(94-95%\) into high-grade concentrates \(23-29% Cu\) at coarse to very coarse primary grind sizes. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/cby-full-year-statutory-accounts--af6253a7-efc2-42b1-b8e6-e0df1570f34b#fact-resource-facts-2) Idzan Creek · gold #### Identity - Project: Idzan Creek - Commodity: gold - Region: png - Reported Region: Morobe Province, Papua New Guinea - Ticker: CBY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Geoff Reed - Resource group id: resource:e2db51ba56d280067256 #### Resource Data - Tonnes: 137300000 - Grade: 0.53 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Idzan Creek project outlines a significant gold resource, contributing to the company's overall asset base, with the estimate prepared by a Competent Person under JORC standards. - Positive factor: Large tonnage resource - Positive factor: Gold grade contributes to project value - Positive factor: QP/CP signed and JORC compliant Evidence · text > Idzan Creek \(137.3Mt at 0.53g/t Au and 0.24% Cu\) #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/cby-full-year-statutory-accounts--af6253a7-efc2-42b1-b8e6-e0df1570f34b#fact-resource-facts-3) Idzan Creek · copper #### Identity - Project: Idzan Creek - Commodity: copper - Region: png - Reported Region: Morobe Province, Papua New Guinea - Ticker: CBY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Geoff Reed - Resource group id: resource:e2db51ba56d280067256 #### Resource Data - Tonnes: 137300000 - Grade: 0.24 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Idzan Creek project outlines a significant copper resource, contributing to the company's overall asset base, with the estimate prepared by a Competent Person under JORC standards. - Positive factor: Large tonnage resource - Positive factor: Copper grade contributes to project value - Positive factor: QP/CP signed and JORC compliant Evidence · text > Idzan Creek \(137.3Mt at 0.53g/t Au and 0.24% Cu\) #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/cby-full-year-statutory-accounts--af6253a7-efc2-42b1-b8e6-e0df1570f34b#fact-resource-facts-4) Wamum Creek · gold #### Identity - Project: Wamum Creek - Commodity: gold - Region: png - Reported Region: Morobe Province, Papua New Guinea - Ticker: CBY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Geoff Reed - Resource group id: resource:2b9c4ff34f0b3e48137e #### Resource Data - Tonnes: 141500000 - Grade: 0.18 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Wamum Creek project outlines a significant gold resource, adding to the company's resource base, with the estimate prepared by a Competent Person under JORC standards. - Positive factor: Large tonnage resource - Positive factor: Gold grade contributes to project value - Positive factor: QP/CP signed and JORC compliant Evidence · text > Wamum Creek \(141.5Mt at 0.18g/t Au and 0.31% Cu\) #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/cby-full-year-statutory-accounts--af6253a7-efc2-42b1-b8e6-e0df1570f34b#fact-resource-facts-5) Wamum Creek · copper #### Identity - Project: Wamum Creek - Commodity: copper - Region: png - Reported Region: Morobe Province, Papua New Guinea - Ticker: CBY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Geoff Reed - Resource group id: resource:2b9c4ff34f0b3e48137e #### Resource Data - Tonnes: 141500000 - Grade: 0.31 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Wamum Creek project outlines a significant copper resource, adding to the company's resource base, with the estimate prepared by a Competent Person under JORC standards. - Positive factor: Large tonnage resource - Positive factor: Copper grade contributes to project value - Positive factor: QP/CP signed and JORC compliant Evidence · text > Wamum Creek \(141.5Mt at 0.18g/t Au and 0.31% Cu\) #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## Metallurgical Results (2) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/cby-full-year-statutory-accounts--af6253a7-efc2-42b1-b8e6-e0df1570f34b#fact-metallurgical-facts-6) Briggs Copper Project · copper #### Identity - Project: Briggs Copper Project - Commodity: copper - Region: australia\_qld - Reported Region: central Queensland - Ticker: CBY #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: conventional crushing, grinding and flotation processing #### Recovery - Recovery: 94 % - Recovery Basis: actual\_test - Conc. Grade: 23 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Metallurgical studies for the Briggs Copper Project indicate very high copper recoveries and high-grade concentrates using conventional flotation, which is a strong positive for project economics. - Positive factor: Very high copper recovery - Positive factor: High-grade concentrate - Positive factor: Conventional and proven processing route - Positive factor: Supports Preliminary Feasibility Study Evidence · text > conventional crushing, grinding and flotation processing to produce very high copper recoveries \(94-95%\) into high-grade concentrates \(23-29% Cu\) #### 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/cby-full-year-statutory-accounts--af6253a7-efc2-42b1-b8e6-e0df1570f34b#fact-metallurgical-facts-7) Briggs Copper Project · copper #### Identity - Project: Briggs Copper Project - Commodity: copper - Region: australia\_qld - Reported Region: central Queensland - Ticker: CBY #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: conventional crushing, grinding and flotation processing #### Recovery - Recovery: 95 % - Recovery Basis: actual\_test - Conc. Grade: 29 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Metallurgical studies for the Briggs Copper Project indicate very high copper recoveries and high-grade concentrates using conventional flotation, which is a strong positive for project economics. - Positive factor: Very high copper recovery - Positive factor: High-grade concentrate - Positive factor: Conventional and proven processing route - Positive factor: Supports Preliminary Feasibility Study Evidence · text > conventional crushing, grinding and flotation processing to produce very high copper recoveries \(94-95%\) into high-grade concentrates \(23-29% Cu\) #### 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: 95% is at or above the exceptional band \(92%\) ## 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.