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Caravel Minerals Limited (ASX:CVV)

ALERT: Price-sensitive ASX Announcement for CVV
Current share price for CVV : $0.230 -0.06 (-20.69%)+
Announcement
Release
19 Jun 2026 9:04AM
Price at Release
$0.290
Full Release
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Summary
Caravel Minerals Limited has announced an updated Ore Reserve for its 100%-owned Caravel Copper Project, located in Western Australia's Wheatbelt region, approximately 150km north-east of Perth. As of June 1, 2026, the Ore Reserve is estimated at 597 million tonnes grading 0.24% copper, containing 1.42 million tonnes of copper, with a cut-off grade of 0.10% copper. This update reflects an approximately 48% increase in Proven Ore Reserve tonnage relative to the 2022 maiden Ore Reserve, largely attributed to the November 2023 Mineral Resource update and detailed mining studies for the Definitive Feasibility Study. The Ore Reserve update also includes molybdenum, silver, gold, iron, and sulphur grades for the first time. Environmental and approval processes are being progressed, with anticipated construction-ready status by Q1 2028. The project's viability is supported by significant local and national stakeholder engagement and a robust social license to operate.
Key Points
  • Ore Reserve estimated at 597Mt at 0.24% Cu for 1.42Mt of contained copper.
  • Proven Ore Reserve tonnage increased by 48% from 2022.
  • Includes molybdenum, silver, gold, iron, and sulphur grades.
  • Definitive Feasibility Study provides increased confidence.
  • Environmental approval processes are ongoing.
  • Construction-ready status targeted for Q1 2028.
  • Significant stakeholder engagement and social license to operate.
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.