Original article by Mark Wembridge
The Australian Financial Review – Page: 15 : 28-Jul-26

Directors of copper miner Carnaby Resources have unanimously endorsed a $213m takever bid from Evolution Mining. The proposed deal will enable Evolution to fully utilise the mill at its Ernest Henry gold and copper mine; the mill processed about 5.6 million tonnes of copper ore in 2025, which is well below its capacity. Evolution has estimated that the addition of Carnaby’s Greater Duchess project will boost copper production at Ernest Henry by 10,000 tonnes a year. Evolution’s all-scrip bid values Carnaby at $0.77 per share; the target’s stock rose 58 per cent to $0.76 on Monday.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, CARNABY RESOURCES LIMITED – ASX CNB