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Cavalier Resources Limited (ASX:CVR)

ALERT: Price-sensitive ASX Announcement for CVR
Current share price for CVR : $0.278 -0.1 (-26.49%)+
Announcement
Release
30 Apr 2026 5:28PM
Price at Release
$0.378
Full Release
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Summary
Cavalier Resources Limited reported its activities for the quarter ending 31 March 2026, highlighting significant exploration and development efforts at the Crawford Gold Project. The company completed a revised Pre-Feasibility Study, which increased the project's Net Present Value by 50% to A$77.2 million. The firm secured a $4 million pre-production placement to fund development activities and plans further financing arrangements to support its operations. Despite a net cash outflow from operating activities, Cavalier is confident in continuing its operations due to successful capital raising efforts. The report detailed various financial metrics, including cash positions and expected funding availability, as well as updates on tenements in Western Australia.
Key Points
  • Cavalier Resources Limited completed significant exploration activities at the Crawford Gold Project, including drilling and updated feasibility studies.
  • The company reported cash inflows from financing activities, notably a $4 million pre-production placement.
  • Net cash used in operating activities for the quarter was reported as A$160,000, with year-to-date net cash used at A$611,000.
  • There were no substantive mining production activities during the quarter.
  • The company has various tenements in Western Australia, including the Leonora Gold Project and Hidden Jewel Gold Project.
  • A revised Pre-Feasibility Study (PFS) was completed, showing an increase in NPV to A$77.2 million, a 50% uplift from previous estimates.
  • Cavalier's financial position at the end of the quarter showed cash and cash equivalents of A$460,000.
  • The company is planning further financing through a US$13 million facility with Raptor and a potential A$5 million Gold Loan Facility with Ottomin.
  • Cavalier expects to continue operations despite current negative cash flows due to successful capital raising initiatives.
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.