Shares in Caravel Minerals closed trade on Friday up 11 per cent to 19.5 cents, following news the junior had signed a non-binding MOU with India-based Adani Enterprises.
Shares in Caravel Minerals rose by 12 per cent on Thursday morning, following news the Subiaco-based explorer had submitted its environmental review document for the Caravel copper project to the Environmental Protection Authority.
A change in strategy appears to be close to paying dividends for Alma Metals after it read the global energy tea leaves and shifted from African coal to instead zero in on a big Queensland copper find. The $13.25 million market-capped company is bearing down on a shallow porphyry deposit at its Briggs copper project, 50km west of Gladstone in Central Queensland.
Caravel Minerals has delivered a maiden ore reserve for its namesake project in WA's Wheatbelt, appraising the outfit as one of Australia's largest undeveloped copper deposits.
Caravel Minerals will use $7.5 million raised from a share placement to fast-track the development of its namesake copper project in the Wheatbelt while St George Mining is raising $7 million.
Our board moves wrap includes Richard Monti, Kristie Young, Bryn Hardcastle, Rohan Hockings, Douglas Huey, Dale Schultz, Paul Summers, and Louie Simens.
Black Cat Syndicate has launched a $10 million share placement, with three other Western Australian-based explorers also seeking funds to progress their gold and copper projects.
Caravel Minerals expects copper concentrate from its namesake project in WA's Wheatbelt region to be sought after by copper smelters due to the very low levels of impurities such as arsenic. The concentrate was produced using composite samples from the project and contained about 25% copper while other impurities such as cadmium, selenium, antimony and lead were well below typical threshold limits for smelters.
Ongoing metallurgical test work of ore from Caravel Minerals' flagship copper project in the Wheatbelt region of WA has established that it can be treated using standard process techniques with high recoveries. Testing has found that high recoveries can be achieved using low reagent doses, which could lower processing costs. The company has also revised resources to 1.3Mt of copper, up from the previous estimate of 1.28Mt.
Caravel Minerals' RC drilling has intersected more thick zones of copper including 138m @ 0.35% copper from 74m down-hole and 200m @ 0.31% copper from 42m at its namesake project in the Wheatbelt, WA. Results from the recently completed drilling campaign will now be incorporated into an updated mineral resource model for the Bindi deposit that is scheduled for completion later this quarter.
Caravel Minerals has confirmed a new geological model for the flagship Bindi deposit, located near Perth in WA, after drilling multiple new zones of copper sulphide mineralisation up to 202 metres wide grading 0.31% copper at its namesake project. The company will use the new data to update the mineral resource model and estimate for the Bindi deposit later this quarter.
Caravel Minerals has reported high recoveries of copper averaging 96.1% at coarse grind sizes from a metallurgical test program carried out on diamond core ore composites at its namesake project in the Wheatbelt of WA. The results eclipse the 92% recovery used in the 2016 scoping study and will now feed into the company's updated scoping study report, which is due for release next month.
Caravel Minerals has reported a global mineral resource of 366 million tonnes grading 0.35% copper for its namesake project near Perth in WA, which is a 46% increase in just under three years. The new resources will underpin a new scoping study for the project, which will incorporate all recent technical work to assist in updating capital and operating costs to potentially develop the project.
Caravel Minerals has confirmed a new geological and structural model for the Bindi deposit, located near Perth in WA, by drilling multiple new zones of copper sulphide mineralisation up to 200m wide at its namesake project. The company is updating the mineral resource model and an updated mineral resource estimate for the project is expected later this quarter, incorporating all the new geology and assay data.
Caravel Minerals has drilled multiple zones of thick copper mineralisation at the Dasher prospect within its namesake project, located northeast of Perth in the Wheatbelt region of WA. Best intersections include 56m @ 0.53% copper from 18m down-hole and a new deeper discovery of 31.7m grading 0.42% copper from 146m down-hole that included a higher grade 13.7m section going 0.61% copper from 164m.
Caravel Minerals has the wind in its sails now after its recent diamond drilling program at its copper project in the Wheatbelt confirmed the presence of thick, higher grade zones at the Bindi Hinge zone with assays of up to 26m @ 0.69% copper from 182m down-hole. The new results have increased support for an alternative development model based on the initial mining of higher grade zones at its namesake copper project.
Caravel Minerals very large, lowish grade copper play in the Wheatbelt just got interesting after the ASX listed company this week tabled a set of drill results that show grades up to three times that of the existing global resource. New results include 6m @ 1.03% copper from 108m within a broader zone of 20m @ 0.5% copper from 94m and 18m @ 0.8% copper from 102m.
Caravel Minerals has announced the resignation of its entire board today, while the outgoing directors have agreed to withdraw legal proceedings against incoming director Alasdair Cooke.
West Perth-based Caravel Minerals has been forced to call a general meeting to vote on the election of two new directors, who are part of a dissident group that had also wanted shareholders to vote on the removal of three existing board members.
Caravel Minerals believes its Calingiri copper mine is set to be an outstanding project, based on a detailed scoping study that it believes is a best-case example of what listed companies need to prepare in order to meet current disclosure rules.
Global miner First Quantum Minerals is set to purchase a stake in West Perth copper junior Caravel Minerals, adding to its interests in Western Australia.
Caravel Minerals gone to the market to raise some extra cash as it seeks to develop its gold and copper acreage in WA and Queensland with a reunited management team from Dominion Mining.
Perth-based Silver Swan Group says it has received firm commitments to raise $5.1 million, which will be applied towards explroation activities across its Western Australian projects.
Silver Swan Group Ltd has announced the all-scrip acquisition of a portfolio of prospective gold, copper and base metal tenements in Western Australia's Murchison region from Mercator Gold plc.
West Perth-based explorer Silver Swan Group Ltd has earned a 51 per cent stake in the Cocata copper-gold project after meeting the exploration expenditure committments set out under its joint venture with Sydney-based Intermet Resources Ltd.
