$15 Million Loan Secured by Caravel Minerals for Copper Project Advancement

Caravel Minerals Limited ( (AU:CVV) ) has shared an announcement.

Caravel Minerals Limited has secured a $15 million loan facility from Regal Resources Royalties Fund to complete the Definitive Feasibility Study (DFS) for its Caravel Copper Project. This non-dilutive funding will enable Caravel to advance the project, which is a critical milestone for securing further financing and potential partners, thereby enhancing shareholder value and contributing to the global supply of copper.

The most recent analyst rating on (AU:CVV) stock is a Buy with a A$0.60 price target. To see the full list of analyst forecasts on Caravel Minerals Limited stock, see the AU:CVV Stock Forecast page.

More about Caravel Minerals Limited

Caravel Minerals Limited is a company operating in the mining industry, primarily focused on the development of the Caravel Copper Project in Western Australia. The project is notable for being Australia’s largest undeveloped copper project, utilizing conventional open-pit mining and proven copper concentrator design to produce high-quality copper concentrate, alongside gold, silver, and molybdenum.

YTD Price Performance: -13.16%

Average Trading Volume: 264,187

Technical Sentiment Signal: Sell

Current Market Cap: A$92.2M

Learn more about CVV stock on TipRanks’ Stock Analysis page.