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Carnavale Resources Limited ( (AU:CAV) ) has issued an announcement.
Carnavale Resources reported that December quarter activities centred on the Kookynie Gold Project, where it achieved a key milestone by signing a Mining and Heritage Agreement with the Wangkatja Tjungula Aboriginal Corporation on behalf of the Nyalpa Pirniku native title holders. The agreement, which underpins the pending grant of mining lease M40/362, establishes a framework for collaboration on exploration, development and operations, including cultural heritage protection, compensation, employment and contracting opportunities, and royalty-linked payments for the traditional owners. An ethnographic and archaeological survey under the new heritage protocol found no culturally significant areas within the proposed open pits and Bankable Feasibility Study drilling zones, allowing Carnavale to advance its feasibility work and move the Kookynie project closer to production while reinforcing its social licence to operate.
The most recent analyst rating on (AU:CAV) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Carnavale Resources Limited stock, see the AU:CAV Stock Forecast page.
More about Carnavale Resources Limited
Carnavale Resources Limited is an Australian mineral exploration company focused on advancing the high-grade Kookynie Gold Project in Western Australia, located between Leonora and Kalgoorlie. The company is progressing this project toward development and potential production, with an 80% interest alongside joint venture partner Western Resources Ltd, which holds 20%.
YTD Price Performance: 35.87%
Average Trading Volume: 665,353
Technical Sentiment Signal: Sell
Current Market Cap: A$57.08M
For detailed information about CAV stock, go to TipRanks’ Stock Analysis page.