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Cavalier Resources Limited (ASX:CVR)

ALERT: Price-sensitive ASX Announcement for CVR
Current share price for CVR : $0.275 -0.045 (-14.06%)+
Announcement
Release
23 Apr 2026 9:16AM
Price at Release
$0.320
Full Release
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Summary
Cavalier Resources Limited announced a successful pre-production placement raising $4 million to advance the Crawford Gold Project. The placement, priced at $0.30 per share, was conducted under existing placement capacities and led by Sanlam Private Wealth. Funds will support the procurement of mining equipment and site development. The company is also negotiating additional funding with Raptor Capital and Ottomin Pty Ltd. The updated Pre-Feasibility Study considers increased gold prices and revised cost estimates, reinforcing the project's economic potential.
Key Points
  • Cavalier Resources Limited received firm commitments for a placement to raise approximately $4 million at $0.30 per share.
  • The funds raised will be used for pre-production and early development activities at the Crawford Gold Project.
  • The placement was conducted using available capacities under ASX Listing Rule 7.1 and 7.1A.
  • The Placement represents a small discount to recent market prices.
  • Sanlam Private Wealth Pty Ltd acted as Lead Manager for the Placement.
  • Funds will be used for procurement of long-lead mining plant and equipment, site preparation, and other pre-production activities.
  • There are ongoing negotiations for additional funding with Raptor Capital International and Ottomin Pty Ltd.
  • The updated Pre-Feasibility Study for the Crawford Gold Project incorporates higher gold prices and updated cost estimates.
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.