Canterbury Resources (ASX: CBY) Share Price Today: Why Is It Down?

Sonal Goyal

20 October 2026 03:07 PM AEDT

Canterbury Resources (ASX: CBY) Share Price Today: Why Is It Down?

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Key highlights

Canterbury Resources (ASX:CBY) shares fell 11.43% to $0.031 during the Trading session on 20 October 2026.
The 2026 annual report, dated 29 September 2026, reported a loss for the year of $1,256,600 and cash of $220,503.
The company lists deposits holding an aggregate 3.3 million tonnes of copper and 3.2 million ounces of gold.

Shares of Canterbury Resources Limited (ASX:CBY) fell 11.43% to $0.031 during the trading session on 20 October 2026. Separately, the company’s Annual Report 2026, dated 29 September 2026, set out its operations and financial results for the year ended 30 June 2026. The share price move and the report occurred on different dates and are not linked in this article.

About Canterbury Resources Limited

Canterbury Resources is an ASX-listed company that generates, explores and evaluates projects in the south-west Pacific. Its portfolio is prospective for large-scale porphyry-related copper, molybdenum and gold deposits across eastern Australia and Papua New Guinea. Partners include Rio Tinto, Alma Metals and Syndicate Minerals.

Queensland projects

At Briggs, held 49% by Canterbury and 51% by Alma Metals, which is funding the project alone under an earn-in, the resource is 932 million tonnes at 0.21% copper, 36 ppm molybdenum and 0.6 g/t silver. A scoping study was completed in November 2025, and the partners committed to a pre-feasibility study evaluating an aspirational 30 million tonne per annum operation, scheduled for completion in late 2027. About 4,500 metres had been drilled across 13 holes at the report date.

The Monto Project, acquired in April 2026 and held 100%, covers a 20 kilometre corridor of porphyry copper-molybdenum occurrences. Drilling at the John Hill deposit began in August 2026, and an updated resource is planned for early calendar 2027. Peenam and Jack Shay are also held 100%, with drilling at Peenam to take place when funding and personnel are available.

Papua New Guinea portfolio

The Bismarck Project on Manus Island is held 40% by Canterbury and 60% by Rio Tinto, with further mapping and sampling proposed. At Morobe, Syndicate Minerals can earn up to 70% by funding up to US$20 million of assessment activity. Core Assets are the Idzan Creek deposit, with an Inferred resource of 137.3 million tonnes at 0.53 g/t gold and 0.24% copper, and Wamum Creek, with 141.5 million tonnes at 0.18 g/t gold and 0.31% copper.

Financial results

The consolidated loss after tax for the year ended 30 June 2026 was $1,256,600, compared with $1,072,445 the previous year. Cash and cash equivalents fell to $220,503 from $704,634, total assets were $11,836,764 and total liabilities were $547,284. Net assets decreased by $20,469 to $11,289,480, with share issuances of $1,591,954 offsetting the loss. No Dividend was paid or declared.

The financial report states that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern, and notes that directors expect to raise funds and reduce discretionary costs.

Sector backdrop

Copper Demand is linked to electrification and infrastructure, and the report’s Chairman’s letter refers to supportive Commodity prices for copper, molybdenum and gold. Large porphyry copper projects typically take many years of drilling, studies and permitting, and require substantial Capital to develop.

Queensland’s central region has existing infrastructure, including ports and rail, which affects project economics.

Risks shareholders should weigh

The company has disclosed a material Going Concern uncertainty and held only $220,503 in cash at year end. Funding is needed for exploration and studies, and capital raisings may dilute shareholders.

The Briggs pre-feasibility study depends on converting Inferred resources to Indicated, and the project is controlled by Alma Metals under the earn-in. Papua New Guinea projects are subject to partner funding and local conditions, and the company reports a loss with no operating revenue. At $0.031, the 11.43% fall on 20 October 2026 shows how volatile low-priced shares can be.

What’s next

Items listed include continued infill drilling at Briggs toward a pre-feasibility study in late 2027, John Hill drilling at Monto and an updated resource in early calendar 2027, further work at Bismarck, and Syndicate Minerals’ ongoing funding of Morobe.

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