Canterbury Resources Limited has announced the completion of its acquisition of Molcopnick Pty Ltd, which holds 100% of the tenement EPM 29106 covering the Jack Shay Project in central Queensland. The transaction was settled by issuing 5 million fully paid Canterbury Resources Limited shares—escrowed for 12 months—along with 5 million options at a conversion price of $0.05, expiring on 31 December 2026. This tenement, covering 40 sub-blocks approximately 310 kilometers northwest of Brisbane and 50 kilometers west of Mundubbera, lies in an area characterized by limited outcrop and modest terrain that has traditionally been used for cattle rearing. The region sits within the Connors-Auburn Province, featuring Permian-aged volcanics and sediments interlaced with mafic and felsic intrusive rocks that hint at prospects for diverse mineralisation. Early exploration efforts at the project have pinpointed two key targets of immediate interest: the Nerangy copper-molybdenum porphyry prospect and the Red Hill nickel-copper-cobalt-platinum prospect. Historical sampling at Nerangy has identified a sizable soil geochemical anomaly measuring roughly 800 by 400 meters and an exposed, clay-altered porphyry suggesting a near-surface, large tonnage, low-grade copper-molybdenum deposit. With no prior drilling conducted on these targets, Canterbury Resources Limited has outlined plans for a scout drilling program later in 2025, following further surface sampling, mapping, and shallow drilling to better define the underlying geology and geochemistry. The company also highlighted progress at its Briggs copper-molybdenum project in Queensland, one of Australia’s largest undeveloped copper deposits, with a Scoping Study expected to be completed in mid-2025. Market sentiment on these developments appears mixed. On the bullish side, the acquisition strengthens Canterbury Resources Limited’s central Queensland portfolio by adding a project with significant discovery potential. The identification of extensive undrilled geochemical anomalies, coupled with a well-planned exploration program, presents an opportunity for the company to unlock valuable copper, molybdenum, and potentially nickel and platinum resources. The parallel advancement of the Briggs project further adds to the company’s appeal, given its favorable metallurgical characteristics and low open pit strip ratio, which are promising for potential large-scale development. Conversely, some caution is warranted. The Jack Shay Project’s terrain—characterized by limited outcrop and extensive colluvial cover—could pose challenges to exploration efforts, particularly given the historical lack of drilling data. Additionally, exploration ventures inherently carry risks associated with identifying commercially viable mineralisations, and delays or unexpected results during the scout drilling phase could temper investor enthusiasm. Overall, while the acquisition broadens Canterbury Resources Limited's project base and technical prospects, investors may need to remain mindful of execution risks and broader market uncertainties.