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Caravel Minerals Limited (ASX:CVV)

ALERT: Price-sensitive ASX Announcement for CVV
Current share price for CVV : $0.215 -0.065 (-23.21%)+
Announcement
Release
13 Aug 2026 9:43AM
Price at Release
$0.280
Full Release
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Summary
Caravel Minerals Limited has provided an update on its Caravel Copper Project in Western Australia, emphasizing the near completion of the Definitive Feasibility Study (DFS), which consolidates extensive work since the 2022 Pre-Feasibility Study. The project has an updated Ore Reserve of 597 million tonnes at 0.24% copper, with significant advancements in mining studies, environmental reviews, water supply, and power solutions. The company has secured a $30 million funding from Regal Funds Management and is exploring potential investment collaborations, including a non-binding MOU with Kutch Copper Ltd for copper concentrate offtake. The project stands as a considerable derisked large-scale copper project, with its DFS expected to integrate these advancements into a comprehensive execution and economic plan.
Key Points
  • DFS nearing completion, enhancing project definition.
  • Updated Ore Reserve at 597Mt at 0.24% Cu.
  • Mining study confirms conventional open pit operation.
  • Environmental Review Document targeted for Q4 2026 submission.
  • Water demand reduced from 18GL/yr to 12GL/yr.
  • Combined State grid and renewable power solution in place.
  • Non-binding MOU with Kutch Copper for offtake agreement.
  • Funding strengthened with $30 million from Regal Funds Management.
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.