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Carnavale Resources Limited (ASX:CAV)

ALERT: Price-sensitive ASX Announcement for CAV
Current share price for CAV : $0.088 0.006 (7.32%)+
Announcement
Release
28 Jul 2026 8:24AM
Price at Release
$0.082
Full Release
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Summary
Carnavale Resources Limited released its June 2026 Quarterly Activities Report focusing on the Kookynie Gold Project (KGP) in Western Australia, where a new Mineral Resource Estimate was completed. The project is under development to transition from open pit to underground mining, with an MRE increase to 120,000 ounces of gold. The company plans to begin over 5,000 meters of aircore drilling. Operating activities reported a net cash outflow of $224,000, with $2,991,000 cash at quarter's end. Finalizing the Bankable Feasibility Study is underway, ensuring continued operations with payments to related parties totaling $118,733.
Key Points
  • Carnavale Resources Limited (CAV) released its June 2026 Quarterly Activities Report.
  • The focus was on the Kookynie Gold Project (KGP) where a new Mineral Resource Estimate (MRE) was completed.
  • KGP is planned to be developed initially as an open pit operation followed by underground mining.
  • The total MRE for the KGP increased by 2.5% to 120,000 ounces of gold.
  • Exploration drilling is set to begin with over 5,000 meters of aircore drilling planned.
  • The Company reported a net cash outflow of $224,000 from operating activities.
  • Cash at the end of the quarter was $2,991,000.
  • The Company is finalizing its Bankable Feasibility Study (BFS) for the KGP.
  • There is an expectation of continued operations and meeting business objectives.
  • Payments to related parties totaled $118,733 for the quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.