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Carnavale Resources Limited ( (AU:CAV) ) just unveiled an announcement.
Carnavale Resources has secured the grant of Mining Lease M40/362, which covers all resources at its Kookynie Gold Project, including the high-grade Swiftsure and Tiptoe deposits. The new lease consolidates previous prospecting and exploration holdings and provides sufficient area for all key infrastructure required for project development, such as open pits, waste dumps and processing facilities.
The company is running an extensive drilling campaign with RC and diamond rigs on site to support a Bankable Feasibility Study, with an additional RC rig due shortly. Management expects the study to be completed in the third quarter of 2026, aiming to deliver a de-risked, high-grade, shovel-ready open pit development with potential underground extensions, marking a significant step towards production and enhancing the project’s development certainty for stakeholders.
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 mining company focused on gold exploration and project development in Western Australia. Its flagship Kookynie Gold Project, located between Leonora and Kalgoorlie, targets high-grade deposits such as the Swiftsure and Tiptoe resources, with a strategy to advance them towards commercial production.
YTD Price Performance: 30.43%
Average Trading Volume: 783,794
Technical Sentiment Signal: Sell
Current Market Cap: A$48.93M
Find detailed analytics on CAV stock on TipRanks’ Stock Analysis page.